The National Assembly’s (NA) Standing Committee, a small group of lawmakers that make key decisions when the NA is not in session, has agreed to submit a resolution on implementing the global minimum tax (GMT) when it sits next in October this year, VN Economy is reporting.
The GMT has been a problem for Vietnam with foreign-invested firms in the country receiving very attractive tax rates that in many cases put them below the GMT’s 15 percent threshold. Though the aforementioned article doesn’t contain a lot of specific detail, it’s likely it operates like the Qualifying Domestic-Minimum Top-Up Tax suggested by the OECD for emerging economies like Vietnam.
