Vietnam and Hong Kong (China) signed a protocol supplementing an agreement on double taxation avoidance in Hong Kong on January 13.

The supplemented document upgraded an article on information exchange in the agreement, under which the two sides have to exchange information upon request, even if it does not relate to a tax matter.

Vietnam and Hong Kong signed an earlier agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes in income in 2008.

Hong Kong is now a destination of transit for many of Vietnam’s import-export commodities. Two-way trade between the two sides increased from 3.1 billion USD in 2011 to 4.7 billion USD in 2012. The figure was 1.7 billion USD in the first five months of 2013.

Source: VNA