VN, Israel sign deal to avoid double taxation

VGP – An agreement was inked this afternoon in Hà Nội between Việt Nam and Israel in order to avoid double taxation and prevent the evasion of taxes imposed on incomes and properties.

August 04, 2009 4:48 PM GMT+7

Deputy Minister of Finance Trần Xuân Hà and Israeli Ambassador Ephraim Matityau sign the agreement on double taxation avoidance, Hà Nội, August 04

The agreement is hoped to help boost trade and investment cooperation between the two countries, creating a transparent legal environment of taxation for investors from Israel and Việt Nam to expand their activities and strengthen the bilateral cooperation in the fields of their advantages.

Israel now ranks the 60^th among 85 countries and territories doing investment in Việt Nam. Israeli companies have registered here the total capital of US $11.68 million.

Việt Nam is mainly exporting footwear, attire, agro-products to Israel while importing high technologies, chemicals and fertilizers.

According to Israeli Ambassador Ephraim Matityau, the signing of the agreement marks a new step of development of the bilateral commercial ties. He revealed that some other treaties will be penned soon.

By Xuân Hồng