MoF pledges fair, transparent tax policies for Korean investors

At the conference in Hanoi on September 30, Deputy Minister of Finance Cao Anh Tuan highlighted that since diplomatic ties were established in 1992, Vietnam and South Korea have become key partners, particularly in economic, trade, and investment cooperation.

"Despite global uncertainty and rising financial risks, the Vietnam–Korea relationship continues to strengthen. Tax and customs remain top business concerns, and the Ministry of Finance (MoF) is committed to active support, ensuring policies are put into practice," said Tuan.

According to Tuan, in response to domestic macroeconomic challenges and global uncertainties at the outset of 2025, the MoF has quickly proposed to competent authorities a package of support measures covering taxes, fees, charges, and land rents.

Implemented from early 2025, the measures are expected to provide around $9.67 billion in support for businesses and individuals throughout the year.

The ministry has also maintained annual dialogue conferences with South Korean businesses on tax and customs procedures and policies.

"These conferences help Korean firms better understand Vietnam’s tax practices and receive timely support in resolving real-world issues, ensuring business rights are protected. They also contribute to fostering a fair, transparent investment environment that encourages investment in line with Vietnam’s integration process and sustainable development goals," he said.

Tuan noted that at the 2024 dialogue conference between the MoF and Korean enterprises, the ministry had received and addressed 35 concerns – 23 related to taxation and 12 to customs. All issues were either resolved directly during the conference or answered in writing to the Korean Embassy, and subsequently published on the websites of the General Department of Taxation and the General Department of Vietnam Customs for the benefit of relevant organisations and individuals.

"Thanks to the efforts of the business community–of which Korean firms in Vietnam are an integral part–and the effective implementation of support measures by authorities, state budget revenue recorded positive results in 2025. The Ministry of Finance values the contributions of Korean businesses to Vietnam’s socioeconomic development," said the Deputy Minister.

He added that the ministry will continue to closely monitor developments to propose timely measures, while also reviewing and amending tax-related laws under the Tax System Reform Strategy to 2030. This aims to create a comprehensive, synchronised tax policy framework aligned with international best practices and standards.

To achieve these goals, the MoF looks forward to continued, candid feedback from the Korean business community in Vietnam to help refine policies towards greater transparency and clarity. This, it said, will support full compliance with tax and customs regulations, promote investment and exports, and ensure alignment with international practices and Vietnam’s integration commitments.

At the conference, South Korean Ambassador to Vietnam Choi Young Sam said, "This dialogue has become an important platform for the Vietnamese government and Korean businesses to exchange views on tax and customs challenges, while also enabling Vietnam to clearly disseminate policies and procedures and gather feedback for additional refinements."

The ambassador expressed hope that the dialogue would foster a more transparent, open, and stable tax environment – one that encourages both new and expanded investment in Vietnam while making tax compliance easier for Korean enterprises already operating in the country.

During the event, the MoF received nine questions from Korean enterprises in Vietnam, covering 18 topics. These included VAT refund policies, procedures for refunds on on-the-spot export goods, loan interest expenses, and proposals to expand preferential tax policies for businesses.

Most inquiries were addressed promptly by representatives of the General Department of Taxation and the General Department of Vietnam Customs. The conference was held in an open, constructive atmosphere, leaving both Korean businesses and Vietnamese regulators satisfied.

South Korea remains one of Vietnam’s largest foreign investors. As of early 2025, committed investment capital had exceeded $92 billion, with more than 10,000 active projects spanning manufacturing, trade, and services. These investments play a pivotal role in Vietnam’s export activities and contribute significantly to the country’s economic growth.

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