Vietnam is actively implementing the additional corporate income tax under the global base erosion and profit shifting (BEPS) rules, commonly known as the global minimum tax. This is one of the key areas of focus for the government and the Ministry of Finance.

Workshop to Review the Draft Decree

To ensure a smooth and effective implementation process, the General Department of Taxation held a three-day workshop from August 27 to 29 to review the draft decree detailing Resolution No. 107/2023/QH15. The workshop brought together domestic and international experts, representatives from the Ministry of Finance, the General Department of Taxation, and relevant tax departments.

Deputy General Director Dang Ngoc Minh emphasized the importance of implementing the global minimum tax and stated that the General Department of Taxation has held numerous meetings and workshops to develop the draft decree. He also encouraged delegates to take advantage of this opportunity to learn from OECD experts.

Role of the OECD

Ms. Felicite Bonnet, Head of the International Tax Cooperation Group and a delegation of experts from the OECD Centre for Tax Policy and Administration, attended the workshop and shared valuable experiences. She commended Vietnam’s efforts in developing the draft decree and committed to support Vietnam in the implementation process.

The global minimum tax is part of the Base Erosion and Profit Shifting (BEPS) Action Plan initiated by the OECD. Vietnam’s participation in this program demonstrates the country’s commitment to ensuring tax fairness and attracting sustainable investment.

Challenges and Opportunities

Director of the Tax Policy Department, Luu Duc Huy, shared the challenges faced during the development of the draft decree. Incorporating the OECD’s general rules into Vietnam’s practice requires careful consideration to ensure compliance with the country’s tax management conditions.

However, implementing the global minimum tax also presents many opportunities for Vietnam. It not only helps ensure tax fairness but also enhances Vietnam’s reputation in the international community.

Conclusion

Vietnam is striving to integrate into the global economy, and the implementation of the global minimum tax is a significant step. With the support of the international community and domestic experts, Vietnam will soon complete the legal framework for the global minimum tax, contributing to ensuring tax fairness and attracting sustainable investment.