Tax Reform in Vietnam

In 2010, after two decades of rapid economic growth, Vietnam passed the threshold to become a lower-middle-income economy. Sustained market-oriented reforms combined with intensive efforts to integrate into the world economy are among the key drivers of this achievement. The reform of tax policy and administration has been a vital part of this transition. This is leading to a fundamental change in the composition of taxpayers, from large state-owned enterprises (SOEs) and foreign-invested companies to a myriad of small and medium private enterprises. Economic transition is also leading to an equally important change in the sources of government revenue, away from cross-border trade-related taxes and revenue collection from crude oil toward a greater share of domestic tax revenue, in particular taxation of business profits, labor income, and capital gains on land. However, completing the transition to a market economy will require changes going beyond tax collection and administration procedures, and will involve changes to the tax instruments themselves. At the end of this process, Vietnam should have a set of taxes that is simple and transparent, secures a stable flow of revenues for the government, encourages an efficient allocation of resources, and does not risk constituting a source of inequality or unfairness. The purpose of the series of studies in this volume is to shed light on the issues Vietnam will be facing in the process of reforming its tax policy and administration. The studies are also expected to lead to concrete policy recommendations contributing to the preparation of key policies and legislative documents to ensure the achievement of the state budget revenue target and other tax administration reform targets in the SEDP 2011-2015. It is expected that the individual studies in this series will become useful inputs into the debate surrounding the issuance of new laws and regulations. It is also hoped that the volume will support the reform momentum in the tax policy area, leading to increased efficiency, transparency, and equity.

Bibliographic Details

Main Authors:	Shukla, Gangadha Prasad, Pham, Duc Minh, Engelschalk, Michael, Le, Tuan Minh
Format:	Report biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2011-09-30
Subjects:	ADDED TAX, AGRICULTURAL TAX, AGRICULTURAL TAXES, ALLOCATION OF RESOURCES, BENEFICIARIES, BENEFICIARY, BONDS, BORDER TAX, BUDGET CYCLE, BUDGET DEFICITS, BUDGET PERFORMANCE, BUDGET PROCESS, BUSINESS CLIMATE, BUSINESS DEVELOPMENT, BUSINESS TAX, CAPACITY BUILDING, CAPACITY ENHANCEMENT, CAPITAL ACCUMULATION, CAPITAL EXPENDITURES, CAPITAL GAINS, CAPITAL INVESTMENT, CASH FLOW, CENTRAL GOVERNMENT, CHARITABLE CONTRIBUTIONS, CITIES, COEFFICIENT OF VARIATION, COMMODITY, COMPLIANCE COST, COMPLIANCE COSTS, CONFIDENTIALITY, CONSUMPTION TAX, CORPORATE INCOME TAX, COST OF COLLECTION, DEBT, DEBT COLLECTION, DECENTRALIZATION, DEDUCTIONS, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT BANK, DISTRICT, DISTRICT LEVEL, DIVIDENDS, DOMESTIC MARKET, E-COMMERCE, ECONOMIC DEVELOPMENT, ECONOMIC EFFICIENCY, ECONOMIC INTEGRATION, EFFECTIVE TAX RATES, EFFICIENT ALLOCATION, EFFICIENT USE, ESTIMATED TAX, EXCHANGE RATE, EXCHANGE SYSTEM, EXCISE TAX, EXCISE TAXES, EXPENDITURE, EXPENDITURE PER CAPITA, EXPORT TAXES, EXPORTERS, FISCAL DECENTRALIZATION, FISCAL MANAGEMENT, FIXED ASSET, FIXED ASSETS, FOREIGN COMPANIES, FOREIGN DIRECT INVESTMENT, FREE TRADE, FUND INFORMATION, GLOBAL ECONOMY, GOVERNMENT BUDGETS, GOVERNMENT OWNERSHIP, GOVERNMENT REVENUE, GOVERNMENT REVENUES, GROSS DOMESTIC PRODUCT, GROWTH RATE, HARMONIZATION, HOUSEHOLD BUSINESSES, HOUSEHOLD INCOME, HUMAN RESOURCE, HUMAN RESOURCES, IMMOVABLE PROPERTY, INCENTIVE STRUCTURE, INCOME GROUPS, INDUSTRIAL COUNTRIES, INFLATION, INFORMATION SYSTEM, INFORMATION TECHNOLOGY, INFRASTRUCTURE DEVELOPMENT, INSTITUTIONAL CAPACITY, INSTRUMENT, INTERNAL AUDIT, INTERNATIONAL BEST PRACTICE, INTERNATIONAL BEST PRACTICES, INTERNATIONAL MARKETS, INTERNATIONAL TRADE, INVESTMENT RESOURCE, IRREGULAR INCOMES, ISSUANCE, JOB CREATION, LAND PARCELS, LAND TAX, LAND TAXES, LAND VALUE, LAND VALUE TAXATION, LEGAL FRAMEWORK, LEVEL OF COMMITMENT, LEVIES, LOCAL CAPACITY, LOCAL GOVERNMENT, LOCAL GOVERNMENTS, LOCAL INFRASTRUCTURE, MACROECONOMIC STABILITY, MARKET ECONOMY, MEDIUM ENTERPRISES, MIDDLE-INCOME ECONOMY, MINISTRY OF FINANCE, MONETARY FUND, NATURAL RESOURCE, NATURAL RESOURCES, OIL PRICES, OUTPUT, PAYMENT METHODS, PAYMENT SYSTEM, PERSONAL INCOME, PERSONAL INCOME TAX, PERSONAL INCOME TAXES, POLICY FRAMEWORK, POLICY MAKERS, POLICY RECOMMENDATIONS, POLICY REFORM, PROGRESSIVE TAX, PROPERTY TAX, PROPERTY TAX REFORM, PROPERTY TAXES, PROVINCES, PROVINCIAL GOVERNMENTS, PROVINCIAL LEVEL, PROVINCIAL REVENUE, PROVINCIAL REVENUES, RAPID ECONOMIC GROWTH, REAL ESTATE, RECURRENT EXPENDITURE, REDISTRIBUTION, REFORM PROGRAM, REGISTRATION FEE, RESOURCE ALLOCATION, RETURN, REVENUE ADEQUACY, REVENUE ASSIGNMENT, REVENUE ASSIGNMENTS, REVENUE AUTHORITY, REVENUE COLLECTION, REVENUE FORECASTING, REVENUE SOURCES, REVENUE STRUCTURE, SMALL BUSINESS, STAMP DUTIES, STATE BUDGET, SUB-NATIONAL, SUBNATIONAL, SUBNATIONAL GOVERNMENTS, TARIFF REVENUE, TAX, TAX ACCOUNTING, TAX ADMINISTRATION, TAX ADMINISTRATION SYSTEM, TAX ASSIGNMENT, TAX AUTONOMY, TAX BASE, TAX BRACKETS, TAX BURDEN, TAX CHANGES, TAX COLLECTION, TAX COMPLIANCE, TAX EVASION, TAX EXEMPTION, TAX EXPENDITURES, TAX FORMS, TAX INCENTIVES, TAX INCIDENCE, TAX INSTRUMENTS, TAX LAW, TAX LAWS, TAX OFFICES, TAX OFFICIALS, TAX POLICIES, TAX POLICY, TAX POLICY REFORMS, TAX RATE, TAX RATES, TAX REDUCTIONS, TAX REFORM, TAX REFORMS, TAX REGIME, TAX REGIMES, TAX REGULATIONS, TAX REVENUE, TAX REVENUE SHARING, TAX REVENUES, TAX SHARING, TAX STRUCTURE, TAX STRUCTURES, TAX SYSTEM, TAX TREATMENT, TAXATION, TAXATION OF BUSINESS, TAXPAYER, TAXPAYER SERVICE, TAXPAYER SERVICES, TAXPAYERS, TECHNICAL ASSISTANCE, TECHNOLOGY TRANSFER, TRADE DEFICIT, TRADE TAXES, TRADING, TRADING ACTIVITIES, TRANSACTION, TRANSFER TAX, TRANSPARENCY, TREATIES, TURNOVER, TURNOVER TAX, TURNOVER TAXES, USE TAX, VALUATION, WORLD ECONOMY, WORLD TRADE,
Online Access:	http://documents.worldbank.org/curated/en/937621468327932237/Tax-reform-in-Vietnam-toward-a-more-efficient-and-equitable-system https://hdl.handle.net/10986/26851
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