On October 19, 2017, an intergovernmental agreement on the elimination of double taxation and the prevention of fiscal evasion with respect to income tax was concluded between the Republic of Latvia and the Socialist Republic of Vietnam.
The agreement provides for appropriate tax rates for passive types of income such as dividends, interest and royalties. Accordingly, the contract stipulates that dividends, interest and royalties may be taxed in the country of origin if the rate does not exceed 5% and 10% of the dividends, 7.5% for interest and royalties and 10% of the combined income.
