Vietnam moves to bring tax management to internatonal standards

The National Assembly on Friday discussed revisions to the Tax Admin Law to create a legal foundation for managing tax in a modern way, approaching international standards and practice, and preventing corruption.

Tran Van Tien, deputy for Vinh Phuc province said: More details are needed in the draft law to ensure transparency. The bill must cover regulations related to the duties, authority, and responsibilities of tax management agencies, organizations, and individuals.

Revisions to the law are needed now that Vietnam has signed free trade agreements with many countries and regions around the world. The draft updates 70 decrees on bilateral taxation to encompass multi-lateralization and bring Vietnam's tax laws into line with international standards.

Source: VOV5