WB and Japan help foster Vietnam’s revenue administration reform
An important part of this project is building a roadmap to modernize the information technology (IT) system in revenue administration and creating a foundation to build IT structure, thereby, the General Department of Taxation can adopt updated IT solutions for their work.
The World Bank (WB) and the State Bank of Vietnam have signed an agreement for non-refundable finance worth US$4.2 million provided by the Japanese government in revenue administration reform.
The project aims to enhance the tax system effectiveness in Vietnam via launching the comprehensive risk management system and redesigning the professional process and information infrastructure.
The finance also helps Vietnam modernize the existing tax policy framework by assessing the impact of tax policy changes.
The WB’s Country Director to Vietnam Ousmane Dione said that the grant agreement is considered the broader commitment of the WB to support Vietnam in improving the effectiveness of budget revenue collecting and spending as well as implementing fiscal policies to promote economic growth.
He also stressed that the project focusing on the tax system will help improve the capacity of mobilizing domestic resources, which are significant pillars of fiscal consolidation.
An important part of this project is building a roadmap to modernize the information technology (IT) system in revenue administration and creating a foundation to build IT structure, thereby, the General Department of Taxation can adopt updated IT solutions for their work.
Another part of this project focuses on enhancing the capability of policy-makers in analyzing and drafting tax policies skills. It helps analyze the impacts of proposed changes to core tax instruments, in accordance with Vietnam’s Tax Reform Strategy and best international practices. It also supports the preparation of the legislative framework to issue property taxes.
The finance is provided by the Japanese government through the Policy and Human Resources Development Program, which are administered by the WB.
Overview of the signing ceremony. Photo by Huy Thang/VGP
|
The finance also helps Vietnam modernize the existing tax policy framework by assessing the impact of tax policy changes.
The WB’s Country Director to Vietnam Ousmane Dione said that the grant agreement is considered the broader commitment of the WB to support Vietnam in improving the effectiveness of budget revenue collecting and spending as well as implementing fiscal policies to promote economic growth.
He also stressed that the project focusing on the tax system will help improve the capacity of mobilizing domestic resources, which are significant pillars of fiscal consolidation.
An important part of this project is building a roadmap to modernize the information technology (IT) system in revenue administration and creating a foundation to build IT structure, thereby, the General Department of Taxation can adopt updated IT solutions for their work.
Another part of this project focuses on enhancing the capability of policy-makers in analyzing and drafting tax policies skills. It helps analyze the impacts of proposed changes to core tax instruments, in accordance with Vietnam’s Tax Reform Strategy and best international practices. It also supports the preparation of the legislative framework to issue property taxes.
The finance is provided by the Japanese government through the Policy and Human Resources Development Program, which are administered by the WB.
16:35, 2025/01/20
PM invites Skoda to manufacture electric vehicles in Vietnam
The Vietnamese government would offer incentives to investors who meet technology transfer requirements and increase the scientific and technological value of their investments.
16:33, 2025/01/08
US Berggruen Holdings to help Vietnam set up investment funds
Vietnam's growing political and global supply chain prominence solidifies its position as a dynamic nation.
21:21, 2024/12/30
Vietnam releases Esports White Book 2022-2023
The growth of Vietnam's esports market is highlighted in the Vietnam Esports White Book 2022-2023, which outlines global trends.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.