A double taxation agreement has been concluded with the Government of Vietnam, which, if ratified, will enter into force at the start of 2009.

The key figures under the DTA are:

• Dividends – 5% where 70% voting power is held, otherwise 10%
• Interest – 10%
• Royalties – 5% to 15%

There is also a provision governing taxing rights on technical fees – services of a technical, managerial or consultancy nature -7.5%.

Vietnam does not apparently levy a capital gains tax.

In addition, Revenue have issued a press release in relation to the signing of a Memorandum of Co-operation with the Rwanda Revenue Authority. According to the press release, the memorandum is designed to facilitate the exchange of information and best practice on tax and Customs modernisation and specific areas of expertise.