The aim is to ensure fairness for businesses, consistency with regulations safeguarding investors'' rights, and compliance with Việt Nam''s international commitments.
The investment support fund aims to stabilise the investment climate, encourage and attract strategic investors and multinational enterprises as well as support domestic companies in prioritised sectors.
Việt Nam''s adoption of the global minimum tax is vital for upholding taxing rights, fostering trust, promoting investment and showcasing transparency.
More than 100 countries and jurisdictions joined the framework, including Việt Nam, many of which start to adopt the global minimum tax from the beginning of next year.
The Ministry of Finance drafted a resolution for the adaptation of the global minimum tax, paving the way for the adoption of the global minimum tax in Việt Nam from next year.
The Ministry of Planning and Investment (MPI) is working on the design of incentives and measures to support new investment activities amid the upcoming application of the global minimum tax.
The global minimum tax of 15 per cent applies to multi-national corporations with annual revenue of 750 million euros, starting from 2024, according to the Ministry of Finance.
Viet Nam needs to develop appropriate policies to adapt to the global minimum tax and remain an attractive FDI destination, a seminar heard in HCM City on March 29.
Global corporate heavyweights in the country are enjoying tax rates of between 2.75 per cent to 5.95 per cent, far lower than the GMTR of 15 per cent. The implementation of GMTR abroad would cost Viet Nam a couple of billions of dollars...
Chairman of the Vietnam Association of Foreign Investment Enterprises (VAFIE) Nguyen Mai speaks with Nha Dau Tu (The Investors) online newspaper on why Viet Nam must implement this rate soon to remain an attractive FDI destination.