Seminar on EU-Supported Tax Reform in Vietnam Opens
The Ministry of Finance and European Technical Assistance Program for Vietnam (ETV2) February 23 opened a seminar in Hanoi on tax reform in Vietnam with technical support from EU.
The two-day meeting focused on ETV2’s assistance with respect to newly-launched and existing important tax laws, including the Personal Income Tax (PIT), Corporate Income Tax (CIT), the drafts of the Environmental Protection Tax and the Land and House Tax Laws.
Dr Kevin Holmes, a European tax expert, has warned that risk management is vital to creating an efficient national system of policies and laws on taxation.
He said Vietnam needs a mechanism to assess risk for each kind of tax and taxpayer in order to help tax authorities to allocate resources rationally, ensuring the equity of the tax system.
The seminar will also be held again on February 26-27 in Ho Chi Minh City.
The ETV2 is a technical assistance umbrella program, funded by the European Commission with a total amount budget of some EUR11 million.
Its aim is to provide the main financial and economic institutions of the Government of Vietnam with expert advice and experience in their present tax law reform drive within the framework of the 2001-2010 Socio-Economic Strategy Plan, in line with the Comprehensive Growth and Poverty Reduction Strategy. (Vietnam Economic Times, Vietnam & World Economy)
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