The Treaty is the first comprehensive income tax treaty between the US and Vietnam. The Treaty also contains a provision on information exchange and administrative assistance. This allows both countries to exchange information on taxpayers.
The Treaty, however, will not take effect until after ratification by both jurisdictions.
On the US side, the US Senate has not ratified such a treaty since 2010. Thus, its fate is unclear. We will keep you posted.
A copy can be downloaded at:
DNLegal, 21 July 2015