Viet Nam to apply global minimum tax in 2024
VGP – Viet Nam will apply global minimum tax from January 1, 2024, according to a Resolution approved by the National Assembly on Wednesday.
![Viet Nam to apply global minimum tax in 2024- Ảnh 1. Viet Nam to apply global minimum tax in 2024- Ảnh 1.](https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2023/11/29/qh-toan-canh1-9157-1701221887-17012466284851010576808.jpg)
In October 2021, the international community agreed a landmark deal on the two-pillar solution to the tax challenges arising from the digitalization and the globalization of the economy.
As part of this plan, Pillar Two establishes a global minimum effective corporate tax rate of 15% for large multinational enterprises (MNEs) which has important implications for the use of tax incentives around the world.
It is estimated that Viet Nam would earn additional VND14,600 billion (US$576 million) each year from topped-up corporate income taxes under the Global Anti-Base Erosion (GloBE)./.