The signing ceremony of the MoU was held on the sidelines of Russian President Vladimir Putin’s state visit to Việt Nam from June 19-20.

The General Department of Taxation of Vietnam and the Federal Taxation Service of the Russian Federation signed a Memorandum of Understanding (MoU) on bilateral cooperation in Hà Nội on June 20.

The signing ceremony of the MoU was held on the sidelines of Russian President Vladimir Putin’s state visit to Việt Nam from June 19-20.

The General Department of Taxation said the signing of the MoU would create opportunities for the two sides to deploy bilateral cooperation activities, thus contributing to the taxation partnership between Việt Nam and Russia.

The cooperation covers the exchange of experiences in tax policy and management; tax management in e-commerce and retail; digital tax services for taxpayers; automatic exchange of information for tax purposes (including e-commerce); digital transformation in tax management (including big data management); transmission of online data about transactions from cash registers, among others.

The forms of cooperation include the exchange of information and sharing of experiences in the said-above fields; holding seminars, meetings, working groups and field trips in both countries; personnel training; transfer of experience and knowledge between the two sides.

According to the General Department of Taxation, the signing of the MoU was a step forwards in economic, external and political relations between the two nations, helping Việt Nam to improve its capacity in developing and building tax policies and management, especially in the fields where Russia has experience such as tax management in e-commerce, digital tax services for tax payers, automatic exchange of information for tax purposes, and digital transformation in tax management. 

Source: Vietnam News

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