Scientific conference on "Tax policy in the context of global economic fluctuations"

Tax policy plays an important role in the socio-economic development of each country. In the context of the global economic recession and macroeconomic fluctuations, tax policy planning needs to be focused to ensure the maximum promotion of available resources in the economy towards the goal of sustainable development. For the above reason, the conference "Tax policy in the context of global economic fluctuations" was organized by the University of Economics Ho Chi Minh City (UEH) in collaboration with the Tax Department of Vinh Long Province on December 14, 2023 at Vinh Long Campus.

Overview of the Conference

Attending the conference, on behalf of University of Economics Ho Chi Minh City (UEH), there was the participation of Prof. Dr. Su Dinh Thanh - President of UEH; Associate Professor, Dr. Bui Quang Hung - Deputy Director of UEH, Director of Vinh Long Campus (VLC); Associate Professor, Dr. Diep Gia Luat - Dean of School of Public Finance, UEH College of Economics, Law and Government (UEH-CELG); Dr. Nguyen Kim Quyen - Vice Dean of School of Public Finance, UEH-CELG; Ms. Nguyen Thi Thi Lieu - Standing Deputy Director of VLC; Mr. Ho Thien Quyen - Deputy Director of VLC; Mr. Nguyen Duc Vinh - Deputy Director of VLC, with teachers, researchers, specialists, and VLC students.

As for the Tax Department of Vinh Long Province - the co-organizer of the conference, there was the presence of Ms. Le Thi Hong Linh - Deputy Director of the Tax Department of Vinh Long province, along with the participation of representatives of leaders and specialized units under the Tax Department of the province.

On behalf of Ho Chi Minh City Tax Agents and Consultants Association, there was the participation of Ms. Le Thi Thu Huong - President of the Association, Mr. Nguyen Manh Khoi - Vice President of the Association; Mr. Le Khanh Lam - Vice President of the Association; Ms. Tran Thi Thanh Phuong - Vice President of the Association; Ms. Ngo Thanh Hanh - Vice President of the Association; Mr. Nguyen Ngoc Tinh - Vice President of the Association; and representatives of leaders of departments and divisions under the Association.

On behalf of the Provincial Departments, there was the presence of Ms. Phan Kim Quyen - Deputy Head of the Economic and Budget Committee, People's Council of Vinh Long Province; Mr. Duong Huu Phu - Vice President of Vinh Long Young Entrepreneurs Association; with the presence of leaders of departments and experts from the Department of Planning and Investment, Department of Agriculture and Rural Development of Vinh Long province.

On behalf of business, there was the attendance of Mr. Le Phu Quoi - Chairman and Director of Vinh Long Petroleum Company; Mr. Huynh Dung Si - Director of Saigon Vinh Long Tourism Joint Stock Company; Mr. Vo Van Son - Director of Phuoc Thanh IV Company Limited; Mr. Vo Thanh Cay - Director of ANT Vietnam Enterprise Solutions Company Limited; Mr. Tran Tri Hieu - Director of TiTas Company Limited; Mr. Le Nguyen Duy Phuong - Director of Vinh Long Tax Agency; Ms. Ha Phan Thanh Phuong - Deputy Director of Phuong Tung Vinh Long Company Limited; and representatives of other companies and businesses in the province.

Speaking at the opening of the Conference, Prof.Dr. Su Dinh Thanh - Director of UEH - emphasized: "Under the impact of international economic integration and the 4.0 Industrial Revolution, countries become interdependent at a deeper and broader level. On a national scale, the tax systems of most countries must adjust tax policies and tax laws to comply with international regulations. As globalization and connectivity become increasingly stronger today, tax policy has become an important tool to regulate and to promote the economic development of each country towards development sustainable goals. Therefore, the topic of tax policy in the context of global economic fluctuations is an urgent today."

Prof.Dr. Su Dinh Thanh - President of UEH - delivering the opening speech at the Conference

Speaking at the conference, Ms. Le Thi Hong Linh - Deputy Director of the Tax Department of Vinh Long Province – stated: "In 2024 and the following years, with the fluctuations of the global economy, it is forecast that there will still be many risks from external factors, along with a number of internal challenges, which will impose pressure on Vietnam's economic recovery and growth in general and the government budget revenue in particular. Accordingly, tax policies need to be supplemented, improved, and flexible to meet the actual circumstances, to create motivation for businesses to expand production and business activities, and to promote economy growth. At this conference, the Tax Department is looking forward to receiving useful information from delegates to clarify theoretical issues about tax, the necessity, legal basis, goals, and requirements for completing policies. tax policy in the context that Vietnam is actively and proactively integrating into the international economy increasingly deeply and widely. Thereby discussing suggestions, recommendations and comments on the draft Law on amendments and supplements to taxes, continuing to improve tax institutions and legal policies."

Ms. Le Thi Hong Linh - Deputy Director of Vinh Long Provincial Tax Department - at the Conference

At the conference, Ms. Le Thi Thu Huong - President of the Ho Chi Minh City Tax Agents and Consultants Association - shared: "Participating in today's conference, the Ho Chi Minh City Tax Agents and Consultants Association wishes to listen to the difficulties and problems of businesses, come up with solutions to support businesses, and minimize risks during operations, contributing to improving compliance with tax obligations as well as strengthening tax management more effectively. At the same time, through the conference, the Ho Chi Minh City Tax Agents and Consultants Association will have practical bases to put into proposals that contribute to perfecting tax policies and related legal policies, responding to the actual situation of local businesses, fields and industries".

Ms. Le Thi Thu Huong - President of Ho Chi Minh City Tax Agents and Consultants Association at the Conference

Within the framework of the Conference, the following key contents were discussed:

(1) Policies to stimulate economic recovery;

(2) Global minimum tax rate issues;

(3) Development of tax agent services;

(4) Enterprises with tax policies in the context of global economic fluctuations.

With the above contents, the conference received 08 papers, of which 06 papers were presented. At the same time, through direct exchanges of opinions at the conference, speakers provided perspectives on the importance of tax policy in adjusting and promoting the economic development of each country as the globalization and connection are increasingly strong, the impacts of factors such as technological change, changes in production and consumption patterns, and the constantly changing international trade situation on the current tax system.

Associate Professor, Dr. Dang Van Cuong - School of Public Finance, College of Economics, Law and Government, UEH - presenting "VAT reduction policy recovering the economy of Vietnam"

Mr. Le Tuan Manh - School of Finance - Banking, Vinh Long Campus - presenting "Tax management for e-commerce"

Ms. Le Thi Hong Linh - Deputy Director of the Tax Department of Vinh Long Province - presenting "Implementing tax collection management in Vinh Long province"

Dr. Le Khanh Lam - Vice Chairman of Ho Chi Minh City Tax Agents and Consultants Association - presenting " Global minimum tax and its impacts on tax reform strategies in Vietnam until 2030"

Mr. Nguyen Ngoc Tinh - Vice President of Ho Chi Minh City Tax Consultants and Agents Association - presenting "Challenges and opportunities for developing tax consulting and tax agency services in Vietnam during the economic integration process"

Dr. Le Phu Quoi - Chairman and Director of Vinh Long Petroleum Company - presenting "Enterprise’s responses in the context of global economic fluctuations"

The conference "Tax policy in the context of global economic fluctuations" took place successfully with the participation and positive contributions of delegates. The conference clarified the importance of tax policy and new trends in tax policy, listed as tax incentive policies and tax adjustment policies to promote investment and economic development. Tax policy is not only a financial adjustment tool but also an opportunity to promote competition, encourage investment and sustainable development.

The Conference Organizing Committee would like to sincerely thank the leaders of Provincial Departments, businesses, researchers, experts, guests, lecturers and students who participated in the conference. The presence and the contributions of the delegates have contributed to making the Conference an important forum to discuss tax policy and propose and recommend practical solutions. Hopefully, the knowledge, experience and information gained from the conference will be applied in practice, contributing to the sustainable development of Vinh Long province and the whole region.