On 17 February 2026, the Council of the European Union placed Viet Nam on Annex I of the EU list of non-cooperative jurisdictions for tax purposes.
\nThis development is serious.
\nBut it is also manageable \u2014 and resolvable within months.
\nImportantly, the listing does not relate to harmful tax regimes or aggressive tax competition. It concerns technical aspects of the OECD Exchange of Information on Request (EOIR) framework \u2014 primarily transparency, access to information, and administrative efficiency.
\nWith decisive and coordinated action, Viet Nam can secure removal from Annex I at the next EU review cycle in October 2026.
\nBelow is a constructive, transparent and solution-oriented roadmap.
\nThe Objective
\nRemoval from Annex I in October 2026
\nthrough rapid technical alignment with OECD standards and close cooperation with EU counterparts.
\nWhole-of-Government Coordination Is Essential
\nLead Authority:
\nMinistry of Finance (MOF)
\nOperational Lead:
\nGeneral Department of Taxation (GDT)
\nKey Supporting Bodies:
\n\u2022\tMinistry of Planning and Investment (corporate & beneficial ownership registry)
\n\u2022\tState Bank of Viet Nam (banking information access)
\n\u2022\tMinistry of Justice (legal alignment)
\n\u2022\tMinistry of Foreign Affairs (EU engagement)
\n\u2022\tPrime Minister\u2019s Office (strategic oversight)
\n\u2022\tMinistry of Finance
\nThis must be treated as a coordinated national priority.
\nPhase 1 (Immediate \u2013 Next 30 Days)
\n1\ufe0f. Establish a High-Level Inter-Ministerial Task Force
\nClear mandate: removal from Annex I by October 2026.
\n2\ufe0f. Conduct a Rapid Gap Analysis
\nFocus areas:
\n\u2022\tBeneficial ownership transparency
\n\u2022\tAccess to accounting records
\n\u2022\tAccess to banking information
\n\u2022\tTimeliness of EOIR responses
\n\u2022\tEnforcement mechanisms
\nOutcome: A clear technical compliance matrix.
\nPhase 2 (April\u2013July 2026): Fast-Track Corrective Measures
\nThe Government does not need to wait for lengthy legislative cycles.
\nSwift action is possible through Decrees, Circulars and Directives.
\n\u2714 Strengthen Beneficial Ownership Transparency
\n\u2022\tCentralized and updated BO registry
\n\u2022\tMandatory reporting and updating obligations
\n\u2022\tDirect tax authority access
\n\u2022\tAdministrative sanctions
\n\u2022\tCompliance audits
\n\u2714 Ensure Direct Access to Banking Information
\n\u2022\tClear authority for tax administration
\n\u2022\tDefined response timelines for banks
\n\u2022\tSecure digital request channel
\n\u2022\tPenalties for delayed cooperation
\n\u2714 Guarantee Availability of Accounting Records
\n\u2022\tClarified retention requirements
\n\u2022\tDigital record obligations
\n\u2022\tSanctions for non-compliance
\n\u2714 Improve EOIR Administrative Efficiency
\n\u2022\tDedicated EOIR unit within GDT
\n\u2022\tCase tracking dashboard
\n\u2022\tStrict internal response timelines
\nPhase 3 (July\u2013September 2026): Demonstrate Implementation
\nLegislation alone is not sufficient.
\nThe EU and OECD expect evidence of practical enforcement.
\nActions should include:
\n\u2022\tPublication of EOIR response statistics
\n\u2022\tRisk-based beneficial ownership compliance reviews
\n\u2022\tPublic confirmation of enforcement steps
\n\u2022\tStructured technical dialogue with OECD and EU bodies
\nTransparency builds credibility.
\nDiplomatic Engagement
\nParallel engagement with the EU Code of Conduct Group and the European Commission is essential.
\nMessaging should emphasize:
\n\u2022\tFull commitment to OECD standards
\n\u2022\tTechnical nature of the issue
\n\u2022\tCorrective measures already underway
\n\u2022\tClear timeline toward October 2026 resolution
\nConstructive, forward-looking dialogue is key.
\nProposed Timeline
\nMarch 2026 \u2013 Task force established
\nApril 2026 \u2013 Gap analysis completed
\nMay\u2013June 2026 \u2013 Decrees & circulars issued
\nJuly 2026 \u2013 EOIR unit fully operational
\nAugust 2026 \u2013 Enforcement & statistics published
\nSeptember 2026 \u2013 Technical engagement with EU
\nOctober 2026 \u2013 Target: Removal from Annex I
\nStrategic Perspective
\nThis situation is not a structural tax policy issue.
\nIt is a technical compliance matter \u2014 and therefore solvable.
\nHandled correctly, it can become an opportunity to:
\n\u2022\tModernize transparency systems
\n\u2022\tStrengthen inter-agency coordination
\n\u2022\tReinforce investor confidence
\n\u2022\tDemonstrate Viet Nam\u2019s commitment to international standards
\nSwift action today prevents reputational risk tomorrow.
\nViet Nam has successfully exited EU monitoring mechanisms before.
\nWith coordinated leadership and decisive implementation, October 2026 is a realistic and achievable milestone.
\n***
\nPlease do not hesitate to contact Dr. Oliver Massmann under omassmann@duanemorris.com if you have any questions or want to know more details on the above. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.
\n***
\n#Vietnam #EU #TaxTransparency #OECD #InvestmentClimate #PolicyReform #InternationalCooperation <\/p>\n","protected":false},"excerpt":{"rendered":"
On 17 February 2026, the Council of the European Union placed Viet Nam on Annex I of the EU list of non-cooperative jurisdictions for tax purposes. This development is serious. But it is also manageable \u2014 and resolvable within months. Importantly, the listing does not relate to harmful tax regimes or aggressive tax competition. It … <\/p>\n
Continue reading “VIET NAM 2026: A CLEAR, CONSTRUCTIVE ROADMAP TO RESTORE EU TAX COMPLIANCE BY OCTOBER”<\/span><\/a><\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"ppma_author":[1007],"class_list":["post-1896","post","type-post","status-publish","format-standard","hentry","category-vietnam-general"],"authors":[{"term_id":1007,"user_id":24,"is_guest":0,"slug":"omassmann","display_name":"Dr. Oliver Massmann","avatar_url":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-content\/uploads\/sites\/19\/2014\/08\/massmannoliver-125x150.jpg","author_category":"","last_name":"Massmann","first_name":"Dr. Oliver","job_title":"","user_url":"http:\/\/www.duanemorris.com\/attorneys\/olivermassmann.html","description":"Read Oliver's bio.<\/a>"}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/posts\/1896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/comments?post=1896"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/posts\/1896\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/media?parent=1896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/categories?post=1896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/tags?post=1896"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/vietnam\/wp-json\/wp\/v2\/ppma_author?post=1896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}