Deep cooperation in the tax field

According to the 2024 cooperation plan between the two Ministries of Finance, the General Department of Taxation of Vietnam and the Lao Tax Department have implemented many cooperation activities, including exchanging experiences on tax management for e-commerce activities and studying and learning experiences in building and applying risk analysis in tax management.

Deputy General Director Vu Manh Cuong said that sharing experiences between the two sides will help both Vietnam and Laos improve the effectiveness of tax administration, contributing to the economic development of both countries. In particular, Vietnam will share practical experiences in applying risk analysis to the inspection, audit, and invoice management process.

Risk analysis – the focus of cooperation

One of the main contents of the meeting was sharing experiences on risk analysis in tax management. Vietnam will introduce:

• Overview of tax compliance risk management: Including legal regulations, theoretical foundations, and practical applications in Vietnam.
• Risk management in planning inspections, audits, and invoice management: Methods for assessing risks, building effective inspection plans.
• Application of technology in risk management: Using software, data analysis tools to improve management efficiency.
• Case study at Thanh Hoa Provincial Tax Department: Sharing specific experiences in applying risk analysis at a locality.

Achievements

The meeting achieved the following positive results:

• Increased understanding: Both sides had the opportunity to better understand each other’s tax management systems and the challenges each country is facing.
• Sharing experiences: Vietnam has shared valuable experiences in building and applying effective tax management solutions.
• Expanding cooperation: The two sides have agreed to continue strengthening cooperation in the future, especially in the field of personnel training and information exchange.

Assessment of the Lao delegation

Mr. Su-phan Vi-la-vong, Deputy Director of the Lao Tax Department, highly appreciated the information and experience shared by the Vietnamese side. He said that this knowledge will be very useful for Laos in building and perfecting its tax management system, especially in the context of the growing e-commerce.

Conclusion

The meeting between the General Department of Taxation of Vietnam and the Lao Tax Department was a great success, opening up new cooperation opportunities between the two countries. Sharing experiences and supporting each other will contribute to improving tax management efficiency, creating a favorable business environment and attracting investment.