Deepening Cooperation with South Korea

At the meeting with Director-General Kang Min Soo of the National Tax Service of South Korea, both sides agreed on the importance of strengthening cooperation between the two tax authorities. Vietnam and South Korea have had a deep-rooted economic cooperation relationship, and strengthening cooperation in the tax sector will contribute to further promoting this relationship.

Specifically, both sides agreed to:

• Strengthen high-level and expert-level delegation exchanges: Continue organizing meetings at the provincial tax bureau level to share practical experiences.
• Cooperate on information technology: South Korea will support Vietnam in upgrading its information technology system for tax administration.
• Exchange information on CRS: Both sides will strengthen cooperation in the automatic exchange of financial account information under the Common Reporting Standard (CRS).

Promoting Tax Treaty Negotiations with Singapore

The meeting between General Director Mai Xuan Thanh and Director-General Ng Wai Choong of the Inland Revenue Authority of Singapore focused on clarifying the contents related to the tax treaty between the two countries, especially the issue of residence. Both sides agreed to continue negotiating to finalize the tax treaty, ensuring compliance with the laws of both countries and creating favorable conditions for business investment.

Expanding Cooperation with China

At the meeting with Deputy Director-General Wang Daoshu of the State Taxation Administration of China, both sides agreed to establish a regular information exchange channel to share experiences, especially in the field of digital transformation in tax administration. China has also invited Vietnam to participate in workshops on tax administration and digital transformation.

Significance of Bilateral Meetings

The bilateral meetings were successfully held, creating the foundation for strengthening cooperation between the General Department of Taxation of Vietnam and the tax authorities of South Korea, Singapore, and China in the coming time. This cooperation will contribute to:

• Improving tax administration efficiency: Learning from the experiences of developed countries and applying modern technologies to tax administration.
• Creating a favorable business environment: Reducing tax disputes and creating favorable conditions for business investment.
• Strengthening international cooperation: Contributing to building a fair and transparent international tax environment.

Conclusion

The bilateral meetings at the 53rd SGATAR Summit have affirmed Vietnam’s proactive role in international tax cooperation. Strengthening cooperation with partners will help Vietnam enhance its tax administration capacity, contributing to the sustainable development of the economy.