articles | 12 September 2015

Cyprus-Vietnam taxation deal planned

Finance Ministry Permanent Secretary Christos Patsalides and Vietnam’s Deputy Foreign Minister Bui Thanh Son have agreed that a double taxation agreement would be beneficial to both countries.

Speaking during a meeting in Nicosia recently, the two officials said negotiations on a double taxation agreement were expected to take place before the end of this year.

According to an official press release, the two men also briefed each other on the economies of their countries and exchanged points of view on bilateral cooperation matters and the prospects of enhancing economic and commercial ties between the two Cyprus and Vietnam.

Both Patsalides and Bui Thanh Son “referred to the process of signing an Agreement for the Avoidance of Double Taxation between the two states and agreed that it would be beneficial for both countries,” the press release added.

“Renewing, maintaining and expanding the existing network of Double Taxation Agreements, which are of great economic and political importance, aims to further enhance and attract foreign investments and to promote Cyprus as an international business centre,” it said.

Source: InCyprus

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