For more information or to contact the company, please email firstname.lastname@example.org, see www.dezshira.com or download the company brochure. If there is a direct conflict between national tax laws and the tax provisions of a DBAA, they will predominate in the DBAA. However, national tax legislation prevails when the tax obligations contained in the DBAA do not exist in Vietnam or when the tax rates of the agreement are higher than national rates. For example, if a signatory country has the right to impose a tax that does not recognize Vietnam, then Vietnamese tax laws apply. May 16 – In international trade, the tax systems of individual countries often place global investors at a disadvantage to expect redundant taxes on their income, i.e. double taxes. For example, a company may be taxed in its country of residence and in countries where it generates income through foreign investment in the provision of goods and services. 1. If a resident of a contracting state believes that the actions of the competent authority of one or both contracting states result in or result in a imposition that is not in accordance with the provisions of this convention, he may refer his case to the competent authority of the contracting state of which he resides, regardless of the remedies provided by the domestic law of those States. This agreement does not affect the tax privileges granted to members of diplomatic or permanent missions or consular missions in accordance with the general rules of international law or the provisions of specific agreements. It is essential to determine whether this is possible and how a double taxation agreement should be applied, given that it is the country of residence that generally pays tax duties.
Since there are many rules and complications that can arise when applying double taxation agreements, it is important to seek professional help from a qualified and experienced accountant. If you are considered to be established in two or more countries, it is important to understand the possible tax breaks granted through double taxation agreements (4) The agreement also applies to all identical or substantially similar taxes levied by one of the two States Parties after the date of the signing of this Convention, in addition to existing taxes or in place of existing taxes. The competent authorities of the contracting states inform each other of the substantial changes made to their respective tax laws. The text of the tax treaty is on www.gov.uk/government/publications/vietnam-tax-treaties The following table lists countries that have entered into a double taxation agreement with the United Kingdom (as of 23 October 2018). On the UK government`s website, you will find an updated list of active and historic double taxation conventions.