Washington (VNA)🎉 – A delegation from the Finance Ministry led by Deputy Director of the Department of Taxation Dang Ngoc Minh on May 13 afternoon had a working session with Deputy Assistant Secretary for International Tax Affairs at the US Department of the Treasury Rebecca Burch, discussing several issues including the 2015 Double Taxation Avoidance Agreement between the two countries.

The working session formed part of the Vietnamese delegation's working visit and their attendance at the 2025 SelectUSA Investment Summit that took place from May 11-14 in Maryland. Vietnam and the US signed the agreement in Washington, D.C. on July 7, 2015. Following the signing, Vietnam completed all necessary procedures for ratification in accordance with its 2016 Law on International Treaties. However, since a major policy reform in the US in 2017, the agreement has not yet been ratified by the US side, and therefore has not entered into force. Currently, countries around the world, including Vietnam and the US, are engaged in negotiations related to Pillar 1 and Pillar 2 of the OECD/G20 Base Erosion and Profit Shifting (BEPS), aimed at preventing tax avoidance by multinational corporations. The US has requested that countries with existing double taxation avoidance agreements, including Vietnam, revise and update their documents.

During the May 13 meeting, both sides clarified their respective positions on the draft protocol proposed by the US Department of Treasury. They agreed that relevant agencies from both countries would continue to review and revise the agreement before submiting it to authorities for approval. The implementation of the Vietnam-US Double Taxation Avoidance Agreement is expected to establish a legal framework that encourages and protects businesses from both countries when conducting trade or investment activities in the other’s territory. According to the Foreign Investment Agency of Vietnam, as of April 30, 2025, the US had 1,447 valid projects in Vietnam with a total registered capital of over 11.94 billion USD, ranking 10th out of 143 countries and territories investing in the country. Businesses from the US have invested into 18 out of 21 economic sectors, mostly in accommodation and food services, manufacturing and processing industries, water supply and waste treatment, real estate business activities, and transportation and warehousing. Meanwhile, Vietnamese investors injected 1.36 billion USD in 252 projects in the US, mainly in scientific and technological services, real estate business, and manufacturing and processing industries./.