Exchange of Notes concerning the addition of a financial institution exempted from interest tax under the Japan-Viet Nam Tax Agreement
1. On November 26, in Hanoi, the Government of Japan and the Government of the Socialist Republic of Viet Nam exchanged diplomatic notes in Hanoi concerning the addition of the Nippon Export and Investment Insurance (NEXI) as a financial institution exempted from interest tax under the Agreement between the Government of Japan and the Socialist Republic of Viet Nam for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (signed on October 24, 1995), based on paragraph 4 of Article 11 of the Agreement.
2. Through the exchange of notes, interest arising in Viet Nam and derived by NEXI or by any resident of Japan with respect to debt-claims insured by NEXI on and after the date of the exchange will be exempt from tax in Viet Nam.
3. It is expected that the exchange of notes will further promote the overseas expansion of Japanese corporations and fostering investment and economic exchange between Japan and Viet Nam.