Macau and Vietnam have signed an agreement to avoid double taxation and prevent tax evasion, aiming to prevent both sides from taxing the same income of their citizens.
Avoid double taxation in Macau.
The Financial Services Authority of the Macau Special Administrative Region (China) has announced that Macau and Vietnam have signed an agreement to avoid double taxation and combat tax evasion.
The agreement, signed by Vietnam's Deputy Minister of Finance Do Hoang Anh Tuan and the Macau Special Administrative Region's Economic and Financial Commissioner Leong Vai Tac, aims to prevent both sides from taxing the same income of citizens in both territories.
Mr. Leong added that besides cooperation on tariffs, the Macau Special Administrative Region is aiming to strengthen bilateral cooperation with Vietnam in areas such as trade, tourism, and education.
Mr. Leong also stated that the signing of the agreement is of great significance in enhancing financial transparency and preventing double taxation, thereby facilitating the promotion of bilateral economic and trade cooperation.
(Source: internet)
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