#43: Impact of Global Minimum Tax on Foreign Investors in Vietnam

07 Thg05, 24

Over 140 countries have joined hands to implement a groundbreaking global tax agreement, designed to ensure that multinational corporations contribute their fair share through a minimum tax rate. Spearheaded by the OECD, this agreement imposes a minimum effective tax rate of 15% on corporate profits, aiming to put an end to the practice of sheltering massive profits in tax havens. Additionally, it aims to eliminate the allure of countries serving as tax havens for corporate giants.

While neighboring Southeast Asian economies like Singapore and Thailand have opted to postpone the implementation of the OECD global minimum tax initiative until 2025, Vietnam has set its sights on adopting the tax this year.

In a significant move, the Vietnam National Assembly passed a Resolution on November 29, 2023, paving the way for the implementation of additional corporate income tax aligned with the Global Anti-Base Erosion Rules (global minimum tax), effective from January 1, 2024.

In this episode, we're joined by distinguished guests:

Thang Vu, Tax Advisor at Luther Law Vietnam

Koen Soenens, General Sales and Marketing Director at DEEP C Industrial Zones

Together with our host, Trang Dao, Head of Business Development Services at AHK Vietnam, we explore the potential ramifications of this resolution on foreign investors operating in Vietnam.

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