Signing the double taxation avoidance agreement between Vietnam and Macao 11/05/2018 04:17:00 899

April 16th 2018, in Macao City, on behalf of the Government of the Socialist Republic of Vietnam and the Administration of the Macao Special Administrative Region (People's Republic of China), Deputy Minister of Finance Do Hoang Anh Tuan and Macao Secretary for Department of Economy and Finance Leong Vai Tac signed the Agreement on Double Taxation Avoidance and the Prevention of Income Tax Evasion.

The signing ceremony of the double taxation agreement between Vietnam and Macao

Attending the signing ceremony were Mr. Dang Ngoc Minh - Deputy General Director of the General Department of Taxation, Mr. Pham Tuan Anh - Deputy Director of the International Cooperation Department - Ministry of Finance, Mr. Vu Chi Hung - Director General of International Cooperation - General Department of Taxation, Mr. Tran Thanh Huan- Consulate General of Vietnam in Hong Kong and Macao and Mr. Long Kong Leong, Head of Macao Finance Department.

Over the past time, the cooperation between Vietnam and Mao Cao have seen considerable progress. In 2017, the two-way trade turnover between the two sides reached more than $ 50 million, up 16.7% in comparison with the same period in 2016. Viet Nam trade surplus to Macau was $ 40.7 million, As of March 20, 1818, Macau has 12 projects in Vietnam with total registered capital of 68.525 million, ranking 53rd among 126 countries and territories investing in Vietnam.

The double taxation avoidance agreement between the two countries would served as a concrete evidence of the friendship cooperation between Vietnam and Macao, marking a new step forward in the relationship between the two sides, thus contribute to creating a legal environment in line with international standards, encouraging investment and business activities of the two sides./.

Mai Ly