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Strengthening Tax Cooperation Between Vietnam and Australia

Hanoi, August 2, 2024 – Amidst the burgeoning bilateral relationship between Vietnam and Australia, especially in the economic sphere, the enhancement of cooperation between the two tax authorities plays a pivotal role. At the Australian Taxation Office headquarters, a delegation from the Vietnam General Department of Taxation held a meeting with their Australian counterparts, marking a significant step forward in tax cooperation between the two nations.
 

Deepening and Effective Cooperation 

At the meeting, General Director Mai Xuan Thanh affirmed the substantial achievements in the cooperative relationship between Vietnam and Australia, particularly following the signing of the Memorandum of Understanding on Financial Cooperation for the 2021-2025 period. This memorandum has established a comprehensive cooperation framework, facilitating enhanced dialogue and experience sharing between the two sides in various areas, including budget management, fiscal management, and taxation.

Sharing Experiences and Mutual Learning 

The meeting focused on sharing experiences and mutual learning on issues related to tax administration, including:

  • Organizational structure and management: Representatives from both sides exchanged views on organizational structures, functions, and duties of tax departments, as well as experiences in classifying taxpayers and focusing on risk management.
  • Professional expertise: Experts from both countries shared experiences in grouping taxpayers to allocate human resources, support, and manage large enterprises and high-risk enterprises.
  • International cooperation: Both sides discussed enhancing international cooperation in the field of taxation, particularly organizing workshops and conferences to share experiences and knowledge.

Achievements and Future Prospects 

The meeting yielded positive results, laying the groundwork for the two sides to strengthen cooperation in the future. Specifically:

  • Promoting information exchange: Both sides will enhance the exchange of information on tax policies, legal regulations, and tax administration issues.
  • Technical assistance: The Australian Taxation Office will continue to provide technical assistance to the Vietnamese tax authorities in building and perfecting the tax management system.
  • Organizing joint cooperative activities: The two sides will jointly organize workshops, conferences, and training courses to enhance the capacity of tax officials from both countries.

Conclusion 

The meeting between the delegation from the Vietnam General Department of Taxation and the Australian Taxation Office marks a significant milestone in tax cooperation between the two countries. Strengthening this cooperation not only contributes to improving the efficiency of tax administration in each country but also creates a favorable business environment, attracting investment and promoting economic development.