The Government recently issued a resolution to ratify an agreement and a protocol on avoiding double taxation and preventing income tax evasion between Vietnam and the United States of America.
Hanoi (VNA) – The Government recently issued a resolution toratify an agreement and a protocol on avoiding double taxation and preventing incometax evasion between Vietnam and the United States of America.
The Ministry of Foreign Affairs was asked to complete necessary procedures inaccordance with law.
Meanwhile, the Ministry of Finance was directed to work with relevantministries and agencies to carry out the agreement and protocol after they takeeffect.
On July 7, 2015, Deputy Minister of Finance Vu Thi Mai and US Deputy Secretaryof State for Economic Growth, Energy and the Environment Catherine A. Novellisigned the agreement.
The agreement aims to avoid or eliminate double taxation of the same income inthe two countries while creating a legal framework for Vietnam’s taxationdepartment and foreign taxation agencies in international tax management.
By August 10, 2016, Vietnam had inked agreements on avoidance of doubletaxation and prevention of income tax evasion with 75 countries and territoriesworldwide. -VNA
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Illustrative photo (Photo: VNA) 
