2011 Bilateral Programme with the Ministry of Finance, Vietnam

(2011. 9. 6 ~ 9, Hanoi, Ho Chi Minh, Vietnam)

□ The Tax Programme, OECD Korea Policy Centre hosted a seminar for officials of the Ministry     of Finance, Vietnam to promote their job performances and disseminate Korea’s advanced     systems and the KTC Family Local Gathering in Ho Chi Minh, and Hanoi, Vietnam.

ㅇ This Bilateral Programme included a 2 day seminar for officials of the Ministry of Finance (GDT) from          September 6 (Tuesday) ~7 (Wednesday) in Ho Chi Minh City. The participants of the seminar were          five officials from the Tax Policy Department of the Ministry of Finance, Vietnam (including Deputy          Director General), one official from the General Department of Taxation, and 20 filed officials who are          in charge of international taxation from the Taxation Agency of Ho Chi Minh City, the Taxation          Agency of Vung Tau Provice and agencies from other major provinces.

ㅇIn the opening speech, Mr. Nguyen Van Phung, Deputy Director General of the MOF, Vietnam          mentioned that this Bilateral Programme was the second event following the first one with the          Ministry of Finance, Vietnam in December, 2010 and expected that this seminar will be very helpful to          the officials in Ho Chi Minh City where there are many foreign companies including Korean          companies in the city.

International Tax Seminar for Officials of the Ministry of Finance, the General  Department of Taxation, Vietnam

ㅇ The lectures were carried out by two experts, Dr. Lee, Gwang Ho (Samil PricewaterhouseCoopers Advisory)     and Dr. Lee, Kyung Geun (Yulchon). They covered the following issues: global economic crisis,     international taxation policies according to changes of economic environment, general theory of     international taxation, differences between OECD models and UN models, permanent establishment,     problems of dual residence, application of tax treaties, major issues within OECD models, recent trends of     transfer pricing (OECD Guidelines), basic theories related to calculating methods of transfer pricing     including profit split methods, and cost plus methods and policy experiences in Korea.

Meeting between Korean Companies and Local Tax Officials in the Southern Part  of Vietnam

ㅇThe Tax Programme held a meeting for local tax officials in the Southern part of Vietnam, and Korean     investors including accounting firms to broaden cooperation between related persons. This event which     became the window for consultation and solution of tax problems was participated by various relevant     people including Korean companies in Ho Chi Minh City, Vung Tau and Dong Nai provinces, accounting     firms and Korean Consulate General.

KTC Family Local Gathering in Vietnam

ㅇ The Tax Programme hosted a KTC Family Local Gathering in Vietnam and a meeting with Korean investors     in September 8 (Tuesday), 2011, in Daewoo Hanoi Hotel. Participants to the event were as follows:     Deputy Director General of the MOF, Vietnam, Vice President of NIF, public officials of GDT and MOF,     relevant people from Korean companies in Vietnam including accounting and law firms, Korean Embassy,     and KOTRA.

Visit to the Relevant Agencies including MOF and NIF, Vietnam

ㅇ The Tax Programme visited the NIF and the MOF and shared opinions on common interests in the     taxation fields.

ㅇ Especially, Mr. Vu Nhu Thang, President of the NIF expressed his appreciation for inviting them to Korea     in July, 2011 and noted that the subject and lectures of the three day seminar on Mid-term Fiscal Plan,     Revenue Forecasting, and Taxation on Real Estate were very helpful in their research projects and asked for     further cooperation in the future.

ㅇ Mr. Ngo Huu Loi, Director of the Taxation Department, MOF delivered his gratitude for helping them to     promote their capacity building and tax systems through KTC seminars and asked for close cooperation in     the advancement of tax systems in Vietnam.