Vietnam-Cambodia Double Taxation Officially Signed

PHNOM PENH – Cambodia has officially signed the agreement with Vietnam on double taxation avoidance and preventing tax evasion of tax imposing on income between the two countries.

The agreement was signed by the Ministry of Finance of Vietnam and the Ministry of Economy and Finance of Cambodia in the 6th Greater Mekong Sub-region Summit (GMS) and the 10th Cambodia-Laos-Vietnam Development Triangle Area Summit.

According to local reports, Clint O’Connell, Head of the Cambodia tax practice at DFDL law firm, said the Double Taxation Agreement (DTA) would be the advantage for cross-border trade between both countries [Vietnam and Cambodia].

According to the tax department, the agreement with Vietnam brings the total number of double taxation agreements signed by the Kingdom to five, including deals with Singapore, China, Brunei and Thailand. Negotiations with Malaysia, the Philippines, South Korea and Japan are ongoing.

Vietnam’s economic cooperation with Cambodia has been powerfully growing. Vietnam is Cambodia’s third largest trading partner among more than 140 trading partners.

The agreement between Vietnam and Cambodia will contribute promoting trade and investment cooperation between them, creating a clear, stable tax environment for both countries’ investors to advance and expand their business-investment activities.

Cambodia has officially signed the agreement with Vietnam on double taxation avoidance and preventing tax evasion of tax imposing on income