Vietnam proposes investment support fund to counter global minimum tax impact on foreign firms

January 10, 2024

Vietnam's Ministry of Planning and Investment has responded to the OECD's Global Minimum Tax initiative by proposing a draft decree to establish an Investment Support Fund. This initiative comes after the passage of top-up tax legislation in late

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Vietnam: NA passes resolution to implement Pillar 2 global minimum tax

November 30, 2023

On 29 November 2023, the National Assembly (NA) passed a resolution to implement the Pillar 2 global minimum tax rules. According to this resolution, multinational enterprises with a total consolidated revenue exceeding €750 million (around $800

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Vietnam takes step towards global minimum tax adoption

November 21, 2023

On 10 November 2023, the Vietnam Government declared that the National Assembly is currently deliberating a proposed resolution aimed at enacting the regulations related to Global Minimum Tax. The Global Minimum Tax, also known as Pillar Two, is an

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Vietnam: BEPS MLI enters into force

September 19, 2023

On 1 September 2023, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Vietnam. Regarding the tax treaties covered by the Multilateral Instrument (MLI)

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Vietnam publishes notice regarding entry into force for BEPS MLI

July 30, 2023

On 28 July 2023, Vietnam gazetted the “Notice No. 12/2023/TB-LPQT of 21 June 2023” regarding entry into force for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). The MLI will be entered into force on 1

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Vietnam plans to implement OECD Global Minimum Tax Rules from 2024

July 30, 2023

On 26 July 2023, the government of Vietnam has declared that it will implement the global minimum tax rules under Pillar Two in Vietnam in 2024. The rules will include the introduction of a qualified domestic minimum top-up tax and the income

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Vietnam deposits BEPS MLI ratification instrument

May 28, 2023

On 23 May 2023, Vietnam has deposited its instrument of approval for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS Convention). This move makes Vietnam the 81st jurisdiction to

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Vietnam: MoF announces tax payment extensions for 2023

April 21, 2023

On 14 April 2023, Vietnam's Ministry of Finance (MoF) has issued Decree No. 12/2023/ND-CP, which provides for tax payment deadline extensions for qualifying taxpayers in various sectors, including agriculture, manufacturing, and SMEs. The extensions

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Vietnam sign MAAC for implement Pillar Two global minimum tax

March 30, 2023

On 22 March 2023, Vietnam signed the Convention on Multilateral Administrative Assistance in Tax Matters (MAAC) to apply international cooperation for tax administration, prevent tax evasion and avoidance. With the inclusion of Vietnam, MAAC now

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Vietnam: MoF launches a public consultation regarding extension of tax payment deadlines

February 08, 2023

The Ministry of Finance (MoF) launches a public consultation on the proposed extension of tax payment time limit for corporate income tax, personal income tax and value added tax (VAT). The proposed extensions will apply as follows: The

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Vietnam: MoF publishes guideline for STD fund

December 05, 2022

On 7 November 2022, the Ministry of Finance (MoF) of Vietnam published a Circular No. 67/2022/TT-BTC which provides a detailed tax obligations guideline for the companies that create and use a science and technology development (STD) fund. As per

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OECD: Peer Review Report on Dispute Resolution Mechanisms in Vietnam

September 16, 2022

The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution more effective) in Vietnam was published by the OECD’s Inclusive Framework on 13 September 2022. The report notes that

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Vietnam signs MLI to implement tax treaty related BEPS measures

February 25, 2022

On 9 February 2022, Vietnam signed the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent BEPS (the MLI). The Base Erosion and Profit Shifting (“BEPS”) project developed by the Organization for Economic Development and

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OECD: Thailand, Vietnam, and Lesotho sign MLI

February 15, 2022

On 9 February 2022, Thailand, Lesotho, and Vietnam signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Thailand’s MLI position identifies 58 double tax

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Vietnam proposes incentive package for 2022

January 22, 2022

On 4 January 2022, the Government has proposed a package on reduction and exemption of tax and land use fees worth VND 64 trillion (US$2.81 billion) for 2022 with an aim to facilitate post-pandemic recovery and socio-economic development in 2022 and

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Vietnam publishes draft Decree on supporting industries

November 14, 2021

Recently, the Ministry of Industry and Trade has proposed to finalize the draft decree amending Decree No. 111/2015 / ND-CP of 3 November 2015, which aims to clarify previous guidelines on incentives to support certain industrial sectors. The

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Vietnam publishes special investment incentive policy

October 15, 2021

On 6 October 2021, Vietnam’s government issued Decision No. 29/2021/QD-TTG (Decision 29) on Special Investment Incentives to facilitate more high-tech investments into the country. The decision includes three different incentive scheme levels as

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Vietnam: MoF proposes tax incentives for 2021

August 17, 2021

On 5 August 2021, the Ministry of Finance (MoF) has published a draft resolution according to Notice No. 209/TB-VPCP, for further tax reductions for 2021 due to the COVID-19 pandemic. The draft resolution was submitted to the Vietnamese National

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