Latvian companies in Vietnam to be provided with stable tax payment regime
Latvian businesses working in Vietnam are to be provided with a stable tax-payment regime that will not be subject to amendments of Vietnam’s regulations.
This is provided by Latvian Saeima’s conceptually supported legislative draft, with which it is planned to ratify Latvian-Vietnamese agreement on prevention of double taxation of PIT, as confirmed by Saeima’s press-service.
The goal of the agreement is preventing tax avoidance as well. This document will form the foundation for cooperation and regular exchange of information between Latvian and Vietnamese tax administrations.
Until now exchange of information has been difficult due to different tax regulations in the two countries.
Following the ratification of the agreement will ensure more stable tax regimes in both countries when it comes to corporate income, dividends, interest, royalties and payment for technical services.