Government agrees tax deal with Vietnam

The Vietnamese prime minister will today sign a tax pact with the Irish Government during a two-day official visit.

The agreement ensures that businesspeople operating in both countries will only pay tax in one jurisdiction.

The pact was one of three double taxation agreements approved by the Government at a Cabinet meeting on February 26. The other countries benefiting are Moldova and Georgia.

The Vietnamese premier will also sign a Memorandum of Understanding on overseas development co-operation, at Government Buildings after talks with the Taoiseach.

Irish Aid will be spending €22.6m in development aid in Vietnam during 2008. The funding is part of a €87.53m allocation for 2007-2010.

The premier also visited Vietnamese students at UCD where he was hosted by UCD president Dr Hugh Brady and Overseas Development Minister Micheal Kitt.

Mr Tan Dung also paid a courtesy call on Leinster House and met with Ceann Comhairle John O’Donoghue.

An Irish embassy was opened in Hanoi in 2005 and also has diplomatic representation for Cambodia and Laos.