Macao, Vietnam sign tax agreement

Macao and Vietnam tax officials have signed an agreement to prevent double taxation, Macao’s SAR has reported.

The agreement, signed April 16, covers Macao’s professional tax, complementary tax, and property tax, and Vietnam’s individual income tax and corporate income tax, the ministry said.

Topics include immovable property, affiliated companies, dividends, interest, royalties, transfer of property, pensions; government services, and educational study and traineeships. The agreement is also in line with international standards on transparency and exchange of tax information, the Macao government said.

The pact was signed in Macao by Secretary for Economy and Finance, Leong Vai Tac, and Deputy Finance Minister of the Socialist Republic of Vietnam, Do Hoang Anh Tuan.