Double taxation agreement with Cambodia approved

BANGKOK, Sept 6 (TNA) -- The cabinet approved the agreeement on the exemption of double taxation between Thailand and Cambodia before Prime Minister Prayut Chan-o-cha’s visit to the neighboring country later this week. Kobsak Pootrakul, vice minister of the Prime Minister’s Office, said the agreement would boost trade and investment with Cambodia that attracted a large number of Thai operators including those who ran gas stations, hotels, ports, textile factories, and restaurants. He said that Cambodia offered numerous promotional privileges to foreign investors, including relaxed rules on shareholding and convenient capital flows. The double-taxation exemption agreement would also facilitate taxation on cargoes transported between both countries. Such cargoes would be taxed only in the land of their origin and would not be taxed at their destinations, Mr Kobsak said. The agreement would be valid for ten years, he said. (TNA)