On 12 June 2024, the Vietnamese Ministry of Finance (MoF) launched a public consultation on a proposed amendment to the corporate income tax (CIT) law.
The key elements of the proposal include:
- Global Minimum Taxation: Incorporating a 15% global minimum tax in line with OECD’s Pillar Two framework.
- Anti-tax evasion measures: Strengthening provisions to combat tax evasion and avoidance by multinational enterprises (MNEs).
- Tax base expansion: Broadening the tax base and ensuring uniformity in tax calculations.
- BEPS prevention: Introducing measures to prevent base erosion and profit shifting (BEPS), particularly focusing on digital platforms and transfer pricing.
- Tax incentive adjustments: Revising tax incentives for small enterprises and those engaged in science and technology.
