Cambodia set to boost trade & investment with Laos, Philippines
As double taxation agreements (DTAs) between Laos and the Philippines with Cambodia are set to enter into force soon, Cambodian economists are optimistic that foreign direct investment (FDI) from the two countries and bilateral trade will rise.
Cambodia's general department of taxation believes the DTAs are not designed just to avoid double taxation; these also build investor confidence and certainty by offering several benefits.
As double taxation agreements (DTAs) between Laos and the Philippines with Cambodia are set to enter into force soon, Cambodian economists are optimistic that FDI from the two countries and bilateral trade will rise. Cambodia has completed technical negotiations on a DTA with Myanmar and is now negotiating DTAs with six countries: the United Arab Emirates, Japan, Morocco, France, Qatar and Azerbaijan.
The benefits include clear tax rules between the contracting states, reduction or elimination of certain taxes, the prevention of tax discrimination between domestic and foreign companies, mechanisms for resolving tax disputes and systems for information exchange to combat tax evasion, according to a domestic media outlet.
At present, Cambodia has DTAs with 11 countries and jurisdictions.
Cambodia has completed technical negotiations on a DTA with Myanmar and is currently negotiating DTAs with six countries: the United Arab Emirates, Japan, Morocco, France, Qatar and Azerbaijan.
Fibre2Fashion News Desk (DS)
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