VAFIE to maintain core strength focus – offer policy advice, facilitate economic ties
The Vietnam's Association of Foreign Invested Enterprises (VAFIE) will continue participating in policy and law building activities and facilitating multilateral economic relations, its executive committee said at a review meeting Tuesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Foreign firms in Vietnam want clarity, more incentives to offset GMT impacts
Foreign businesses operating in Vietnam have called on the Vietnamese authorities to issue clearer policies and consider further incentives to offset negative effects of the Global Minimum Tax (GMT) that was enacted in January.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam finance ministry mulls incentives to offset global minimum tax
Vietnam’s Ministry of Finance is studying incentives to ensure the country remains attractive to foreign-invested enterprises (FIEs) as it prepares to implement the global minimum tax (GMT), said a senior ministry official.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam to remain FDI magnet despite global minimum tax application
Vietnam is likely to remain attractive to foreign investors even after it began applying the global minimum tax last month, Mirae Asset Securities Vietnam (MAVN) says in a strategy report.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
Rising FDI inflows to further boost Vietnam’s domestic activities: UOB
An increase in both actual and registered foreign direct investment (FDI) inflows in 2023 will further boost Vietnam’s domestic activities in the quarters ahead including construction and employment, said researchers at Singapore-headquartered bank UOB.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam economy could grow 6% in 2024 as exports, manufacturing improve: UOB exec
Vietnam could reach GDP growth of 6% in 2024 and over 6% in 2025 as exports and manufacturing continue to improve, but these figures are still comparatively low given that the country's economic expansion was 7-8% before the pandemic, said Suan Teck Kin, executive director at UOB Global Economics & Market Research.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
HSBC sees ‘manageable’ impact of Global Minimum Tax in Vietnam
While the details of the Global Minimum Tax (GMT) are still being finalized, its impact on Vietnam’s inward foreign direct investment (FDI) should be manageable, HSBC said in a monthly report.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam well positioned for more FDI: UOB research exec
Vietnam is in a good position to attract more foreign direct investment (FDI), given its competitiveness and an ongoing supply chain shift to the Southeast Asian region, an expert said.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global Minimum Tax is not a risk to Vietnam’s inbound FDI: VinaCapital
The implementation of the new Global Minimum Tax (GMT) is unlikely to impede foreign direct investment (FDI) inflows into Vietnam, said Michael Kokalari, chief economist at leading fund management firm VinaCapital.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam to tap global minimum tax revenues for fund to support priority sector investors
The Ministry of Planning and Investment is gathering comments on a draft decree to establish a fund that will use part of Global Minimum Tax (GMT) revenues to support investors in priority sectors.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam M&A market may reach $20 bln in next 3 years: exec
The value of mergers and acquisitions (M&A) in Vietnam is expected to reach $20 billion annually in the next three years as the country opens its economy up further, said Binh Le Vandekerckove, founder and CEO of ASART Deal Advisory Co.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam approves global minimum tax, gov’t to build supporting policy
The National Assembly (NA), Vietnam’s highest legislative body, passed a resolution on global minimum tax (GMT) on Wednesday with a 93.52% endorsement.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Support policies needed for attractive investment environment if GMT enacted: lawmakers
The application of the global minimum tax (GMT) will reduce the attractiveness of Vietnam’s investment environment, so the National Assembly should issue resolutions on preferential support policies for businesses, especially foreign ones, said legislators.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam can collect $600 mln more from global minimum tax enactment
Vietnam can collect VND14.6 trillion ($600 million) of tax differences between the country’s current tax scheme and the Global Minimum Tax (GMT) in the first year of enforcement, if all countries apply the GMT from 2024, according to a government report.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Resolution on global minimum tax to be passed in Vietnam
A resolution on global minimum tax (GMT) is scheduled to be discussed for approval at the ongoing sitting of the National Assembly, Vietnam’s legislature.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Foreign investors bet on Vietnam’s growth: minister
Foreign investment in Vietnam is poised to remain robust as international firms see potential for the country to become a global supply hub and play a crucial role in boosting world trade, according to Minister of Planning and Investment Nguyen Chi Dung.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
No global minimum tax payment for firms in Vietnam until 2025
Businesses in Vietnam will not have to pay the new global minimum tax (GMT) until 2025, says Vu Tuan Anh, a member of the National Assembly’s Finance and Budget Committee.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global minimum tax not on agenda as Vietnam parliament meets
The National Assembly, Vietnam’s highest legislative body, will not discuss approval of the global minimum tax (GMT) at its meeting that begins October 23.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam to incentivize hi-tech investments afresh as global minimum tax looms
A government resolution to support hi-tech investments, subject to National Assembly approval, seeks to offset any disadvantage that arises from deploying the global minimum tax (GMT) in 2024.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam needs breakthrough incentives for semiconductor development: expert
The Vietnamese government needs to consider incentives beyond the existing regulatory framework to stimulate the development of its fledgling semiconductor industry as the country seeks further integration into global chip-related supply chains, an eminent expert has suggested.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam to enforce global minimum tax in early 2024
The Vietnamese government will in October submit a proposal to enforce the global minimum tax (GMT) to the National Assembly for approval, according to the General Department of Taxation.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam's FDI prospects bright as a manufacturing hub: Maybank exec
Vietnam’s FDI prospects will remain bright not only in the second half of this year, but also in 2024 and beyond, said Tyler Nguyen, head of institutional equities sales at Maybank Investment Bank.
Executive Talk - Mon, Dec 22, 2021 | 11:30 am GMT+7
Belgian tech solutions provider seeks hydrogen project partner in Vietnam
John Cockerill, a Belgium-based provider of large-scale tech solutions, has asked Vietnam’s Ministry of Finance to help find partners to build a hydrogen factory in Vietnam.
Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam to double global economic growth: IMF
The International Monetary Fund’s managing director Kristalina Georgieva called Vietnam “a shining star” and forecast the country’s growth would be twice that of the global economy.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam aims to implement Global Minimum Tax from 2024
Vietnam plans to enforce the Global Minimum Tax (GMT) from January 1, 2024, the General Department of Taxation (GDT) told a conference on Tuesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Finance ministry required to assess Global Minimum Tax impacts
Vietnam’s Deputy Prime Minister Le Minh Khai has requested the Ministry of Finance to thoroughly assess the adverse impacts of the Global Minimum Tax (GMT) in order to provide appropriate solutions.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Cost-based incentives should offset global minimum tax-related preference losses: EuroCham, AmCham
EuroCham and AmCham have recommended the Vietnamese government introduce cost-based incentives to offset losses of corporate income tax (CIT) preferences due to the adoption of the Global Minimum Tax (GMT).
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global minimum tax, opportunity for Vietnam to continue reforms: EuroCham vice chairman
The upcoming implementation of the Global Minimum Tax (GMT) will force Vietnam to make further reforms for the new situation, with a key task being to improve its administrative procedures, EuroCham Vietnam vice chairman Nguyen Hai Minh tells The Investor.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global minimum tax - opportunities and challenges for Vietnam
Adoption of the global minimum tax (GMT) will bring both opportunities and challenges for Vietnam in attracting foreign investment, wrote Huong Vu, co-head of the Vietnam Business Forum's (VBF) Tax & Customs Working Group.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global minimum tax, Vietnam’s lawmaking steps
Nguyen Thanh Vinh, Baker & McKenzie Vietnam partner, provides details on Vietnam’s lawmaking steps as the Global Minimum Tax becomes a hot topic worldwide.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Government to mull over global minimum tax proposals in June
The Prime Minister's special working group on Global Minimum Tax (GMT) is set to submit its proposal on the application of the new tax rule in Vietnam to the government this June, said Prof. Nguyen Mai, a member of the taskforce.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Response to Global Anti-Base Erosion model rules: key considerations for Vietnam
If Vietnam chooses not to introduce legislation to implement Pillar Two of the Global Anti-Base Erosion model rules (GloBE model rules), tax incentives may be “clawed back” in another country, and from a multinational enterprise perspective, it means that the investor will not receive tax benefits and will just have to pay tax somewhere else, said Robert King, indochina tax leader at EY.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global minimum tax conference to help Vietnam maintain, improve FDI attraction
Policymakers, economic experts, business leaders, and tax consultants in Vietnam are taking part in a conference held by The Investor to help Vietnam maintain its status as an FDI destination while the global minimum tax (GMT) rules are enforced worldwide.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global minimum tax offers Vietnam golden chance to upgrade FDI attraction strategy, model
The OECD-initiated Global Minimum Tax (GMT) will not only help Vietnam adopt a new mindset and vision, but also have abundant resources and deeper connections with strategic investors in the new period, said Prof. Dr. Vu Minh Khuong from the Lee Kuan Yew School of Public Policy under the National University of Singapore.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global Minimum Tax offers big opportunities for Vietnam: expert
The Global Minimum Tax (GMT) under OECD Pillar Two is a once-in-a-lifetime global tax reform that will apply to multinational companies with revenue above 750 million euros, and many OECD countries are set to implement it at the beginning of 2024.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
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