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Int'l Cooperation

Last updated: Friday, April 20, 2018


International Workshop on Base Erosion and Profit Shifting

Posted: Friday, May 26, 2017

The General Department of Taxation in cooperation with the World Bank (WB) and the Organisation for Economic Cooperation and Development (OECD) held an international workshop on priorities for implementation of base erosion and profit shifting (BEPS) in Asia - Pacific economies from May 22 to 25, 2017.

At the seminar, tax officials of Vietnam said that the Government approved for Vietnam to join the Forum for BEPS Cooperation. Some important results of actions 4, 8-10 and 13 of the 15-point BEPS Action were applied to associated transaction prices as per Decree 20/2017/ND-CP dated February 24, 2017 on regulations on tax administration for companies with associated transactions and guiding circulars. In the coming years, Vietnamese tax authorities will continue to implement other BEPS actions, including preparation for the BEPS Implementation Forum in June 2017 and collaboration with the OECD to review specific policies, regulations and plans to implement four standards at a minimum.

Reportedly, the results of this workshop will be reported to the APEC Ministerial Meeting held in October 2017 in Hoi An City, Quang Nam Province. This thus has a practical contribution to the success of the APEC Finance Ministers' Meeting 2017 and cooperation among tax authorities in the region.

Hien Hung

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