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THE MINISTRY OF FOREIGN AFFAIRS
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness
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No.: 05/2013/TB-LPQT
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Hanoi, January 24, 2013
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ANNOUNCEMENT
ABOUT
THE INTERNATIONAL AGREEMENT COMING INTO FORCE
Executing the provisions set
out in Clause 3, Article 47 of the Law on signing, acceding and implementing
International Agreement in 2005, the Ministry of Foreign Affairs announces:
The second protocol amending
the agreement between the Government of the Socialist Republic of Vietnam and
the Government of the Republic of Singapore for the avoidance of double
taxation and the prevention of fiscal evasion with respect to taxes on income
signed in Hanoi on March 2, 1994, signed in Singapore on September 12, 2012
coming into force since January 11, 2013.
The Ministry of Foreign Affairs
respectfully sends the copy of the Protocol according to the provisions of
Article 8 of the abovementioned law.
BY ORDER OF THE MINISTER
GENERAL DIRECTOR OF
THE DEPARTMENT OF LAW AND INTERNATIONAL TREATY
Nguyen Thi Thanh Ha
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SECOND PROTOCOL
AMENDING
THE AGREEMENT BETWEEN THE GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM AND
THE GOVERNMENT OF THE REPUBLIC OF SINGAPORE FOR THE AVOIDANCE OF DOUBLE
TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME
SIGNED IN HANOI ON MARCH 2, 1994
The Government of the Socialist
Republic of Vietnam and the Government of the Republic of Singapore, Desiring
to amend the Agreement between the Government of the Republic of Singapore and
the Government of the Socialist Republic of Vietnam for the avoidance of double
taxation and the prevention of fiscal evasion with respect to taxes on income
signed in Hanoi on March 2, 1994 (hereinafter referred to as “the Agreement”), Have agreed as follows
ARTICLE I
With respect to Article 2
(Taxes Covered) of the Agreement:
1. Clause 3(a) shall be deleted
and replaced by the following:
“(a) in Vietnam:
(i) the personal tax income;
and
(ii) enterprise income tax;
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ARTICLE II
With respect to Article 5
(Permanent Establishment) of the Agreement:
Clause 3 shall be deleted and
replaced by the following:
“3. The term “permanent
establishment” also encompasses:
(a) A building site or construction
or installation project constitutes a permanent establishment only if it lasts
more than 6 months; and
(b) The furnishing of services,
including consultancy services, by an enterprise through employees or other
personnel engaged by the enterprise for such purpose, but only if activities of
that nature continue (for the same or a connected project) within a Contracting
State for a period or periods aggregating more than 183 days within any
twelve-month period;”
ARTICLE III
Article 9 (Associated Enterprises)
of the Agreement shall be deleted and replaced by the following:
“1 Where -
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(b) the same persons
participate directly or indirectly in the management, control or contribution
of capital to an enterprise of a Contracting State and to an enterprise of the
other Contracting State,
and in either case, conditions
are made or imposed between the two enterprises in their commercial or
financial relations which differ from those which would be made between
independent enterprises, then any profits which would, but for those
conditions, have accrued to one of the enterprises, but, by reason of those
conditions, have not so accrued, may be included in the profits of that
enterprise and taxed accordingly.
2. Where a Contracting State
includes, in accordance with the provisions of Clause 1, in the profits of an
enterprise of that State - and taxes accordingly – profits on which an
enterprise of the other Contracting State has been charged to tax in that other
State and where the competent authorities of the Contracting States agree, upon
consultation, that all or part of the profits so included are profits which
would have accrued to the enterprise of the first-mentioned State if the
conditions made between the two enterprises had been those which would have
been made between independent enterprises, then that other State shall make an
appropriate adjustment to the amount of the tax charged therein on those agreed
profits.
In determining such
adjustment, fair considerations shall be given to the other provisions of this
Agreement.”
ARTICLE IV
With respect to Article 10
(Dividends) of the Agreement:
1. 1. A new Clause 9 shall be
inserted:
“The exemption provided under
Clause 3 of Article 10 shall not apply to dividends derived by the Government
of Singapore from the carrying on of commercial activities.”
ARTICLE V
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1. Clause 4(b)(i) shall be
deleted and replaced by the following:
“(i) The Monetary Authority of
Singapore;”
2. A new Clause 9 shall be
inserted:
“With respect to the taxation
of interest as provided under Clause 2 of Article 11, if Vietnam, in any
agreement for the avoidance of double taxation with any other State, provides
for a rate of less than 10 percent on the gross amount of interest, the same
lower rate shall apply for the purposes of Clause 2 of Article 11.”
ARTICLE VI
With respect to Article 12
(Royalties) of the Agreement:
1. Clause 2(b) shall be deleted
and replaced by the following:
“(b) 10% of the gross amount of
royalties in all other cases”
ARTICLE VII
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Clause 4 shall be deleted and
replaced by the following:
“Gains derived by a resident of
a Contracting State from the alienation of shares, other than shares of a
company posted on a recognized stock exchange of one or both Contracting
States, deriving more than 50% of their value directly or indirectly from
immovable property situated in the other Contracting State may be taxed in that
other State.
5. Gains from the alienation of
any property other than that referred to in Clauses 1, 2, 3 and 4 shall be
taxable only in the State of which the alienator is a resident.”
ARTICLE VIII
With respect to Article 14
(Independent Personal Services) of the Agreement:
Clause 1 shall be deleted and
replaced by the following:
“1. Income derived by an
individual who is a resident of a Contracting State in respect of professional
services or other activities of an independent nature shall be taxable only in
that State except in the following circumstances when such income may also be
taxed in the other Contracting State:
(a) if he has a fixed base
regularly available to him in the other State for the purpose of performing his
activities; in that case, only the income as is attributable to that fixed base
may be taxed in that other State; or
(b) If his stay in the other
State is for a period or periods exceeding in the aggregate 183 days within any
twelve month period; in that case, only the income as is derived from his activities
performed in that other State may be taxed in that other State;
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Article 23 (Limitation of
Relief) of the Agreement shall be deleted and the subsequent articles shall not
be renumbered
ARTICLE X
With respect to Article 25
(Non-Discrimination) of the Agreement:
1. Clause 2 shall be deleted
and replaced by the following:
“2. The taxation on a permanent
establishment which an enterprise of a Contracting State has in the other
Contracting State shall not be less favorably levied in that other State than
the taxation levied on enterprises of that other State carrying out the same
activities.”
2. Clause 5 shall be deleted
and replaced by the following:
“5. Where a Contracting State
grants tax incentives to its nationals designed to promote economic or social
development in accordance with its national policy and criteria, it shall not
be construed as discrimination under this Article.”
ARTICLE XI
Article 27 (Exchange of
Information) of the Agreement shall be deleted and replaced by the following:
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2. Any information received
under Clause 1 by a Contracting State shall be treated as secret in the same
manner as information obtained under the domestic laws of that State and shall
be disclosed only to persons or authorities (including courts and
administrative agencies) concerned with the assessment or collection of, the
enforcement or prosecution, or the determination of appeals in relation to the
taxes specified in Clause 1, or the oversight of the above. Such persons or
authorities shall use the information only for such purposes. Such persons or
authorities shall use the information only for such purposes. They may disclose
the information in public court proceedings or in judicial decisions.
3. In no case shall the
provisions of Clauses 1 and 2 be construed so as to impose on a Contracting
State the obligation:
(a) to carry out administrative
measures at variance with the laws and administrative practice of that or the
other Contracting State;
(b) to supply information which
is not obtainable under the laws or in the normal course of the administration
of that or of the other Contracting State;
(c) to supply information which
would disclose any trade, business, industrial, commercial or professional
secret or trade process, or information the disclosure of which would be
contrary to public policy.
4. If information is requested
by a Contracting State in accordance with this Article, the other Contracting
State shall use its information gathering measures to obtain the requested
information, even though that other State may not need such information for its
own tax purposes. The obligation contained in the preceding sentence is
subject to the limitations of Clause 3 of this Article but in no case shall
such limitations be construed to permit a Contracting State to decline to
supply information solely because it has no domestic interest in such
information.
5. In no case shall the
provisions of Clause 3 be construed to permit a Contracting State to decline to
supply information solely because the information is held by a bank, other
financial institution, nominee or person acting in an agency or a fiduciary
capacity or because it relates to ownership interests in a person.”
ARTICLE XII
The Protocol (1994) of the
Agreement shall be deleted.
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Each of the Contracting States
shall notify the other Contracting State of the completion of the procedures
required by the law of the respective Contracting State for bringing into force
this Protocol. This Protocol shall come into force on the date of the later of
these notifications and shall thereupon have effect:
(a) in Vietnam:
(i) in respect of taxes
withheld at source, in relation to taxable amounts as derived on or after the
first day of January following the calendar year in which the Protocol comes
into force, and in subsequent calendar years;
(ii) in respect of other
Vietnamese taxes, in relation to income, profits, gains or capital arising on
or after the first day of January following the calendar year in which the
Protocol comes into force, and in subsequent calendar years; and
(iii) in respect of Article XI,
to request made on or after the date of entry into force of the Protocol;
(b) in Singapore:
(i) in respect of tax
chargeable for any year of assessment beginning on or after January 1 in the
second calendar year following the year in which the Protocol comes into force;
(ii) in respect of Article XI,
to request made on or after the date of entry into force of the Protocol.
ARTICLE XIV
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IN WITNESS WHEREOF, the
undersigned, being duly authorized by their respective Governments have signed
this Protocol.
DONE in duplicate at Singapore
on September 12, 2012 in Vietnamese and English, both being equally
authoritative.
FOR THE GOVERNMENT OF
THE SOCIALIST REPUBLIC OF VIETNAM
Vuong Dinh Hue
MINISTER OF FINANCE
FOR THE GOVERNMENT OF
THE REPUBLIC OF SINGAPORE
Tharman Shanmugaratnam
DEPUTY PRIME MINISTER
AND MINISTER OF FINANCE