Việt Nam Welcomes EU Decision to Remove It from Tax Blacklist
Hanoi, The Gulf Observer: Việt Nam has welcomed the European Union’s decision to remove it from the bloc’s list of non-cooperative jurisdictions for tax purposes. The country said it is ready to keep working with international partners to promote tax transparency and a fair, sustainable business environment.
Responding to reporters on October 10, Ministry of Foreign Affairs spokeswoman Phạm Thu Hằng said: “Việt Nam welcomes the European Union’s decision to remove Việt Nam from the list of non-cooperative jurisdictions for tax purposes.”
She said the decision recognises Việt Nam’s recent efforts to improve its legal and policy framework and strengthen enforcement in practice. These efforts aim to create a favourable, transparent and stable business and investment environment in line with international standards. According to the spokeswoman, this helps protect the lawful rights and interests of businesses and investors, promotes international economic cooperation and makes the economy more competitive.
“Việt Nam stands ready to continue exchanges and cooperation with international partners, including the EU, in a constructive, equal and mutually beneficial spirit, to promote tax transparency, improve the effectiveness of corporate governance and build a fair, favourable and sustainable international business environment,” she said.
The decision was set out in conclusions adopted by the Council of the European Union at a meeting of the Economic and Financial Affairs Council in Luxembourg on October 9. The Council welcomed several jurisdictions that now meet all listing criteria and removed them from the list. The revised blacklist now contains eight entries.
Việt Nam now appears in a separate annex that tracks cooperation with jurisdictions that have committed to good tax governance standards. Under the transparency criteria, it is listed alongside Montenegro and Panama among jurisdictions awaiting an in-depth review by the Global Forum on the exchange of information on request. On the prevention of base erosion and profit shifting, the Council noted that Việt Nam has committed to addressing recommendations on country-by-country reporting from the Inclusive Framework. It is expected to do so in time for the Action 13 peer review report in autumn 2027.
The Council also stressed the importance of promoting good tax governance standards, including fair taxation and tax transparency, and of fighting tax fraud, evasion and avoidance. It praised the continued cooperation between its Code of Conduct Group on Business Taxation and most jurisdictions around the world.
The EU list was first drawn up in 2017 and is updated twice a year as part of the bloc’s efforts to encourage better tax governance worldwide. Việt Nam’s removal is expected to boost the confidence of European investors and support the deepening economic and trade ties between the two sides.
