Prague Signs Pact to Aid Vietnamese Firms with Tax and Business Regulations

The Czech Ministry of Finance has entered into a formal agreement with Vietnamese business organisations to enhance the provision of information on finance, taxation, and business law. A memorandum of understanding was signed in Brno on Saturday by representatives from the ministry, the Czech-Vietnamese Educational Institute, and the Association of Young Vietnamese Entrepreneurs in the Czech Republic (AYVE).

The MoU is intended to mark a new step forward in improving connectivity between Czech state management agencies and the extensive Vietnamese business community, which includes both incorporated enterprises and household businesses. The primary goal is to help these entrepreneurs gain faster and more accurate access to the legal regulations that govern their commercial activities within the Czech Republic.

Alena Schillerová, the Czech Deputy Prime Minister and Minister of Finance, spoke at the event, highly valuing the economic contributions of the Vietnamese community. She explained that the agreement would be implemented through specific programmes designed to assist enterprises in accessing and complying with new regulations on taxation, finance, and business administration. Schillerová specifically highlighted upcoming provisions related to the Electronic Sales Records (EET) 2.0 system.

Representing the Vietnamese Embassy in the Czech Republic, Nguyễn Việt Anh spoke highly of the initiative. He stated that timely updates on legal regulations would be crucial in helping the Vietnamese business community integrate more deeply into the Czech business environment and proactively adapt to future changes.

As part of the programme, participants were updated on a range of new regulations affecting their operations, including the EET 2.0 system, which is scheduled to take effect on January 1 of next year. During a dialogue session, many Vietnamese entrepreneurs highlighted persistent challenges they face in adapting to policy changes, citing language barriers, limited access to up-to-date information, and increasing competitive pressure.

In response, experts at the gathering stressed that for businesses to achieve sustainable development, the key would be to proactively keep abreast of evolving legal regulations and to apply modern management technologies.