Viet Nam
Overview of CbC reporting requirements
The domestic legal and administrative framework
Viet Nam’s 2018/2019 peer report recommended that Viet Nam take steps to amend its legislation or otherwise issue detailed definitions and requirements to bring it in line with the Action 13 minimum standard. Viet Nam has made these amendments by issuing a decree and this recommendation is removed.
Viet Nam’s 2018/2019 It is recommended that Viet Nam take steps to amend its legislation or otherwise clarify that local filing in Viet Nam is only required in line with the minimum standard for Action 13. Viet Nam has made these amendments by issuing a decree and this recommendation is removed.
It is recommended that Viet Nam amend its legislation or otherwise take steps to ensure that enforcement provisions relating to effective implementation of filing requirement for CbC reporting are provided for as required by the terms of reference as soon as possible. This recommendation remains in place since the 2018/2019 peer review.
The exchange of information framework
It is recommended that Viet Nam take steps to have qualifying competent authority agreements in effect with jurisdictions of the Inclusive Framework which meet the confidentiality, consistency and appropriate use conditions and with which it has an international exchange of information agreement in effect that allows for the automatic exchange of tax information. This recommendation remains in place since the 2018/2019 peer review.
It is recommended that Viet Nam take steps to implement processes or written procedures to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework as soon as possible. This recommendation remains in place since the 2018/2019 peer review.
Appropriate use of CbC reports
Viet Nam does not yet have controls in place to ensure the appropriate use of CbC reports.
It is recommended that Viet Nam take steps to ensure that the appropriate use condition is met as soon as possible. This recommendation remains in place since the 2018/2019 peer review.