Hong Kong implements tax treaty with Vietnam
July 2nd, 2009 . byAn order made under the Inland Revenue Ordinance to implement the tax treaty signed with the Socialist Republic of Vietnam on 16 December 2008, was gazetted on 30 April 2009.
Under the agreement, double taxation is avoided in that any Hong Kong income tax paid by Vietnam residents or companies shall be allowed as a credit against any tax payable in respect of the same incomes in Vietnam. The withholding tax on royalties derived in Vietnam will be capped at 7% where payments are made for the …
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