Enhancing bilateral cooperation on global minimum tax

On December 16, the Tax Department of Vietnam and a delegation from the Budget Office of the National Assembly of the Republic of Korea held a bilateral meeting to exchange views on the global minimum tax, as part of efforts to strengthen professional cooperation between the two countries, particularly in the tax sector.

Delivering remarks at the meeting, Bui Viet Hung, Deputy Chief of Office of the Vietnam Tax Department, noted that Vietnam-Korea relations have continued to deepen, especially after the two countries elevated ties to a Comprehensive Strategic Partnership. Dialogue and exchanges between state agencies including tax authorities and parliamentary policy research bodies play an important role in supporting evidence-based policymaking and enhancing the effectiveness of state management.

The two sides exchanged a wide range of information and practical experience related to tax policy and tax administration.

Sharing experience in tax reform and digital economy

At the meeting, Park Yeon-seo, Head of Digital Tax Policy Analysis Division I at the Budget Office of the National Assembly of the Republic of Korea, expressed strong interest in Vietnam’s recent reforms in tax administration particularly its proactive participation in and implementation of international standards on the global minimum tax, base erosion and profit shifting (BEPS), and its efforts to adapt to the rapid growth of the digital economy.

These practical experiences, she noted, are not only significant for Vietnam but also provide useful references for Korea as it continues to refine its tax policies.

“The Budget Office of the Korean National Assembly places great importance on strengthening international cooperation, especially with partners such as Vietnam,” Park Yeon-seo said, expressing her hope that the two sides would continue regular exchanges, promote joint research, and share data and experience to improve the quality of fiscal and tax policymaking in both countries.

The bilateral meeting took place in an open, constructive and substantive atmosphere. Discussions focused on coordination and information-sharing mechanisms between parliaments and tax authorities, emerging tax policy issues in the digital economy, and major orientations for tax policy, revenue structure and tax administration to support economic development and investment attraction.

Through the exchange, both sides gained valuable insights and experience particularly in implementing the global minimum tax. Based on the positive outcomes, the two parties agreed to maintain regular communication, expand research cooperation, and deepen experience sharing, contributing to higher-quality fiscal and tax policy development and fostering more effective and substantive Vietnam-Korea cooperation.