HCMC – Vietnam is strengthening its legal framework and expanding inter-agency data sharing to meet international financial transparency standards and support its removal from the European Union’s tax blacklist.
The move is aimed at fully implementing recommendations from the Organization for Economic Co-operation and Development (OECD), paving the way for the European Union to remove Vietnam from its list of non-cooperative jurisdictions for tax purposes.
This is the main content of the National Action Plan for the Vietnamese Government’s obligation to exchange information upon request for tax purposes, recently signed and issued by Deputy Prime Minister Nguyen Van Thang in Decision No. 948/QD-TTg, according to the Vietnam News Agency.
This is a strategic commitment aimed at ensuring financial and monetary sovereignty, strengthening national prestige, and promoting sustainable international economic integration based on global transparency standards.
The national action plan is structured around two key priorities, comprising 26 specific measures aimed at strengthening Vietnam’s compliance with international tax transparency requirements.
On the regulatory and technical front, Vietnam will review and amend existing laws to clearly define the authority of government agencies to collect, access and provide tax-related information upon request.
The reforms are aimed at removing legal barriers that could hinder the implementation of international commitments and ensuring the availability of information needed for effective tax administration and cross-border information exchange.
At the same time, provinces, cities and government ministries will work together to upgrade technical infrastructure and develop integrated databases to facilitate the efficient sharing of information across agencies.
The system will also incorporate regular monitoring and evaluation mechanisms, enabling authorities to measure implementation outcomes and demonstrate compliance through verifiable data to international institutions.
On the human resources and international cooperation front, relevant agencies will expand training programs and regularly update civil servants on the latest international standards to build a more professional and responsive administrative system.
As part of the plan’s 26th and final key action, Vietnam will maintain regular dialogue and coordination with the OECD, the Global Forum, and the European Union to support the implementation of its commitments and demonstrate progress toward meeting international tax transparency requirements.
