"Vietnam welcomes the European Union's (EU) decision to remove the country from the list of jurisdictions that do not cooperate on tax matters," Foreign Ministry spokesperson Pham Thu Hang said on October 10.
She said the EU decision recognised Vietnam's efforts to improve its legal framework and policies and make their implementation more effective. The measures aim to build a favourable, transparent and stable business and investment environment that meets international standards and practices, protect the lawful rights and interests of companies and investors, promote international economic cooperation and improve the economy's competitiveness.
"Vietnam is ready to continue dialogue and cooperation with international partners, including the EU, in a constructive, equal and mutually beneficial spirit. This will help promote tax transparency, improve corporate governance and build a fair, favourable and sustainable international business environment," Hang added.
On October 9, the EU Council announced that it had removed Vietnam and Panama from its list of jurisdictions that do not cooperate on tax matters. The list includes countries that the EU considers not to meet agreed international tax standards or not to have fulfilled commitments to improve tax governance within the required timeframe.
The EU placed Vietnam on the list in February after an assessment by the Global Forum on Transparency and Exchange of Information for Tax Purposes of the Organisation for Economic Co-operation and Development found that Vietnam did not meet the requirements for exchanging tax information.
Vietnam then carried out reforms and received approval for a reassessment.
Sources: VnExpress
