Hun Manet Holds Baku Talks with Aliyev as Cambodia and Azerbaijan Sign Double Taxation Agreement
Prime Minister Hun Manet held bilateral talks with President Ilham Aliyev in Baku on October 12, and the two leaders witnessed the exchange of three cooperation documents, including a memorandum of understanding between the Cambodia Chamber of Commerce and its Azerbaijani counterpart, according to Agence Kampuchea Presse.
On the same day, Cambodia's General Department of Taxation announced the signing of a double taxation agreement between Cambodia and Azerbaijan. It is Cambodia's 15th such agreement and makes Azerbaijan Cambodia's first tax treaty partner in the Caucasus. The agreement is intended to eliminate double taxation, enhance tax certainty and facilitate cross-border trade and investment.
The agreement also establishes a framework for allocating taxing rights, administrative cooperation, exchange of information and the prevention of tax evasion and avoidance. It will enter into force only after both countries complete ratification procedures and exchange the required instruments, and reduced withholding rates on some cross-border payments may follow under the final treaty text.
For Cambodian and Chinese businesses considering a Caucasus presence, the treaty's value is predictable cost: written rules for how profits, dividends and royalties will be taxed. Hun Manet and Aliyev both said that more than thirty years after establishing relations, the two countries still have considerable room to expand cooperation.
Source: GSM · USA (original Chinese edition)
Photo: 巴库火焰塔实景，摄影：佚名，CC BY-SA 3.0，来源：Wikimedia Commons（File:Baku, Azerbaijan - panoramio (3).jpg）
