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Vietnam approves tax treaty with Iran

The Government recently approved a mutual tax avoidance agreement between Vietnam and Iran.
The Government recently approved a mutual tax avoidance agreement between Vietnam and Iran.

The day the pact will come into effect has yet to be determined.

As of July 15, 2014, Vietnam had tax treaties with 69 countries and territories across the globe.

Accordingly, residents of contracting nations are taxed at a reducedrate or are exempt from Vietnamese taxes on income or gains they receivefrom Vietnamese sources. These reduced rates and exemptions vary amongcountries and specific items of income. Meanwhile, Vietnamese residentsor citizens are taxed at a lower rate or are exempt from foreign taxeson income or gains they receive from foreign countries.

The treaties also form legal frameworks facilitating cooperationamong taxation agencies of contracting countries to prevent taxevasion.-VNA

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Ngoc Linh ginseng is found within a narrow ecological zone around the peak of Ngoc Linh Mountain. (Photo: VNA)

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The official logo of resort airline Sun PhuQuoc Airways (Photo: Sun Group)

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