Laos and Cambodia sign agreement to prevent double taxation, boost trade
Laos and Cambodia sign agreement to prevent double taxation, boost trade
Laos and Cambodia recently signed three agreements in Phnom Penh to promote bilateral ties and cooperation.
One was to eliminate double taxation on income and prevent tax evasion and avoidance between the two neighbours.
This is Cambodia’s 12th double taxation agreement (DTA).
Cambodia is also negotiating DTAs with Japan, Myanmar, Morocco, the United Arab Emirates, France and Qatar.
Laos and Cambodia recently signed three agreements in Phnom Penh to promote bilateral ties and cooperation.
Cambodian Prime Minister Hun Manet and visiting Laotian counterpart Sonexay Siphandone witnessed the signing ceremony after their meeting in Phnom Penh.
One agreement was on eliminating double taxation on income and preventing tax evasion and avoidance between the two neighbours. It was signed by Cambodian Minister of Economy and Finance Aun Pornmoniroth and his Laotian counterpart Santiphab Phomvihane. This is Cambodia’s 12th double taxation agreement (DTA).
Domestic media outlets reported that Cambodia is also negotiating DTAs with Japan, Myanmar, Morocco, the United Arab Emirates, France, and Qatar.
The two sides also signed memoranda of understanding on agricultural, cultural and arts cooperation.
According to Cambodia’s official statistics, the value of trade between Cambodia and Laos remains modest. Imports from Laos were worth about $185.13 million during the first 10 months of this year, marking a 14.4-percent increase year over year. Exports to Laos remain minimal as well.
