Lat­vian com­pa­nies in Viet­nam to be pro­vided with a sta­ble tax sys­tem

Baltic News Network - - Front Page -

Lat­vian com­pa­nies work­ing in Viet­nam will be pro­vided with a sta­ble tax sys­tem that will not be af­fected by amend­ments of Viet­nam’s reg­u­la­tions. This is pro­vided by Saeima For­eign Af­fairs Com­mit­tee’s con­cep­tu­ally sup­ported on Wed­nes­day, 9 May, as con­firmed by Saeima’s press-ser­vice.

The leg­isla­tive draft pro­vides for rat­i­fy­ing Lat­vian-Viet­namese agree­ment on preven­tion of dou­ble tax­a­tion and tax avoid­ance. The ob­jec­tive of the agree­ment is pre­vent­ing tax avoid­ance of all in­volved sides.

The doc­u­ment will cover a leg­isla­tive base to en­sure di­rect co­op­er­a­tion be­tween Lat­vian and Viet­namese tax ad­min­is­tra­tions, en­sur­ing reg­u­lar ex­change of in­for­ma­tion, as con­firmed by Latvia’s For­eign Af­fairs Min­istry.

Un­til now lack of ap­pro­pri­ate in­for­ma­tion has made tax­a­tion of res­i­dents abroad more dif­fi­cult. It was also dif­fi­cult to ap­ply sev­eral dif­fer­ent na­tional tax reg­u­la­tions, the min­istry states. Latvia’s For­eign Af­fairs Min­istry re­ports that once the agree­ment comes into force, each coun­try’s in­vestors will be pro­vided with more sta­ble tax­a­tion regime.

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