Vietnam joins multilateral convention on prevention of tax base erosion
(VOVWORLD) - Vietnam has officially become the 99th member of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).
 Ambassador to France Dinh Toan Thand (left) and OECD Deputy Secretary General Yoshiki Takeuchi (Photo: VNA) |
Ambassador to France Dinh Toan Thang signed the convention on Wednesday at the Organization for Economic Co-operation and Development (OECD) headquarters in Paris. The MLI, a multilateral instrument, covers over 1,800 bilateral tax agreements.
Addressing the signing ceremony, OECD Deputy Secretary General Yoshiki Takeuchi welcomed Vietnam, Thailand, and Lesotho to the convention. He said that the prevention of base erosion and profit shifting will not work without a joint effort.
According to Ambassador Thang, expanding the tax base and preventing collection source erosion and profit shifting is a focus of Vietnam’s tax reform strategy. The signing of international commitments like the MLI is given priority by Vietnam’s Ministry of Finance, he said.