Cambodia’s Double Taxation with Three Nations Effective from This Month
Cambodia's double taxation agreements with Brunei, China and Vietnam are effective from January this year onward.
The update was shared in a press release from the Ministry of Economy and Finance, stressing that the agreements � of bilateral nature � play a vital role in preventing double taxation in trade.
While the agreement with the Republic of China was signed since October 2016, those with Brunei and Vietnam were signed in July 2017 and March 2018, respectively.
Based on the explanation in the release, the accords will allow official protection to countries involved from dual taxation and will boost foreign direct investment and trade between the countries.
Cambodia is currently negotiating for similar agreements with other countries � including Japan, Malaysia, the Philippines, Singapore, South Korea, and Thailand.
Source: Agency Kampuchea Press