WB, Japan help Vietnam improve taxation management

Friday, 2019-08-02 21:12:31
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At the signing ceremony (Photo: VNA)
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NDO/VNA – The World Bank (WB) and the State Bank of Vietnam on August 2 signed an agreement worth US$4.2 million in non-refundable aid provided by the Japanese government to launch a taxation system modernisation project in Vietnam.

The project aims to improve the efficiency of taxation management via a complete risk control and information technology system, and to modernise the tax policy framework.

WB Country Director Ousmane Dione said the project reflects the WB’s greater commitment to partnering with Vietnam to improve the efficiency of State budget expenditure and fiscal reform to propel growth.

It will also help analyse the impact of changes to key taxation policies in line with Vietnam’s tax reform strategy and the best international practices, thus building a legal framework for asset tax imposition.

The aid was funded by the Japanese government via the WB-managed human resources and policy development programme.