Laos, Cambodia sign agreement to prevent double taxation, boost trade

08 Dec '24

1 min read

Laos, Cambodia sign agreement to prevent double taxation, boost trade

Pic: Adobe Stock

Insights

Laos and Cambodia recently signed three agreements in Phnom Penh to promote bilateral ties and cooperation.
One was on eliminating double taxation on income and preventing 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).

Cambodia is also negotiating DTAs with Japan, Myanmar, Morocco, the United Arab Emirates, France and Qatar, domestic media outlets reported.

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, with imports from Laos worth about $185.13 million during the first 10 months this year, marking a 14.4-per cent increase year on year. Exports to Laos remain minimal as well.

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