A Well-Attended Event

The event drew a large number of representatives from various ministries, agencies, and businesses, particularly large enterprises and multinational corporations operating in Vietnam. The presence of leading tax experts and representatives from international organizations such as the OECD enhanced the event’s professionalism and significance.

Why is the Global Minimum Tax Important?

The Global Minimum Tax is considered a turning point in the fight against profit shifting and tax evasion by multinational corporations. By imposing a minimum tax rate of 15% worldwide, countries hope to secure more stable revenue and ensure that businesses contribute fairly to state budgets.

Vietnam Proactively Integrates

Speaking at the workshop, Deputy General Director of the General Department of Taxation Dang Ngoc Minh emphasized the importance of implementing the Global Minimum Tax for Vietnam. He stated that Resolution 107/2023/QH15 has created a solid legal framework for Vietnam to integrate more deeply into the global economy.

Highlights of the Workshop

• Challenges and Opportunities: Delegates discussed the challenges that Vietnamese businesses will face when implementing the Global Minimum Tax, while also recognizing it as an opportunity to enhance the competitiveness of Vietnamese enterprises.
• Demand for Transparency: Experts stressed the importance of building a transparent and efficient tax management system to ensure the fair and effective implementation of the Global Minimum Tax.
• International Cooperation: Representatives of international organizations shared experiences and support tools to help Vietnam implement the Global Minimum Tax.

Diverse Opinions and Contributions

Participating businesses provided valuable input, focusing on issues such as:

• Burden on Businesses: Many businesses expressed concerns about increased costs due to additional taxes.
• Need for Specific Guidance: Businesses require detailed guidance on how to calculate and pay the Global Minimum Tax.
• Impact on Investment Attraction: Some businesses worry that the Global Minimum Tax may reduce Vietnam’s investment attractiveness.

Issues to be Addressed in the Future

• Improving the Legal Framework: The relevant legal provisions need to be further refined to ensure transparency and clarity.
• Strengthening Communication: Efforts should be intensified to educate businesses about the Global Minimum Tax and related regulations.
• Supporting Businesses: Policies should be in place to support businesses, especially small and medium-sized enterprises, during the transition to adapt to the Global Minimum Tax.

Conclusion

Vietnam is actively integrating into the global economy, and the implementation of the Global Minimum Tax is clear evidence of this. However, this process also presents numerous challenges. With the efforts of the government, administrative agencies, and the support of the business community, Vietnam will overcome difficulties and successfully implement the Global Minimum Tax.