Global Daily Tax News, Vietnamese Lawmakers Considering Minimum Tax Law, (Nov 16, 2023)

On November 10, 2023, Vietnam's parliament began consideration of domestic legislation for the implementation of the OECD's pillar two minimum tax framework.

The Government is aiming to secure parliamentary approval by the end of this year, for the implementation of an income inclusion rule, undertaxed payments rule, and a domestic minimum top-up tax, to enable Vietnam to top-up the tax payable in the nation to 15 percent, rather than have this tax paid to the location of a multinational's parent company.

The Government has also recently tasked government ministries to consider the range of tax incentives on offer to multinational enterprises, to ensure the country remains internationally competitive.