Vietnam PM Approves Double Taxation Avoidance Pact With UAE
The Vietnamese prime minister on June 10 approved a double taxation avoidance agreement with the United Arab Emirates (UAE).
The agreement was signed between Vietnamese PM Nguyen Tan Dung and Vice President-cum-Prime Minister of the UAE Mohammed Bin Rashid Al Maktoum in Dubai, UAE on February 16.
It is aimed to help two sides avoid levying taxes twice, prevent tax avoidance and adjust taxes put on incomes and assets.
The Ministry of Foreign Affairs will conduct the final procedures and put the agreement into effect from the date of signing.
Vietnam and UAE achieved bilateral trade of US$550 million last year. Bilateral cooperation between Vietnam and UAE covers a wide range of trade, investment and labor.
Vietnam’s main exports to the UAE include foodstuffs, furniture, coffee, tea, spices, tobacco, fruits, electrical equipment and machinery. It imports oil seeds, plants, plastics from the UAE. (VOV)
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