WB assists Vietnam’s tax reform

Illustrative image (Source: VNA)

Hanoi (VNA) – A delegation from the World Bank (WB) recently worked with Vietnamese partners to prepare for a project modernising the tax system in Vietnam, according to Deputy Finance Minister Do Hoang Anh Tuan.

The project, worth 4.1 million USD, is funded by the Japanese Government through the Policy and Human Resources Development Fund, with the WB entrusted to receive the funds and disburse them to Vietnam.

The WB delegation and Vietnamese partners also discussed potential projects to improve tax management in Vietnam.

Recently, Prime Minister Nguyen Xuan Phuc issued a directive assigning the Finance Ministry to build a Government decree on e-invoices and submit it to the Government before October.

The e-invoice system is expected to help tax offices improve tax collection, increase transparency and prevent fraud.-VNA

VNA