After years of institutional and economic reform, Vietnam’s poverty rate declined rapidly. In 1990, Vietnam was among the world’s poorest countries with a GDP per capita of $98. By 2010, GDP reached $1,000. Vietnam is now defined as a lower middle-income country by the World Bank. The government has made more firm commitments to opening the market and developing the private sector. Taxation has been one of the major reforms since the opening of the economy and the implementation of Doi Moi in Vietnam. Before the Fair Tax Monitor project, there was little information available on the effect of various tax policies in Vietnam and how these either disadvantage or benefit the country. The FTM revealed that Vietnam is doing quite well on the assessment, yet two areas of taxation can be improved quite a lot. Budget disclosure is not transparent enough and tax exemptions should be more carefully managed.

Read the full country report here: Fair Tax Monitor Vietnam 2018