Global minimum tax workshop to help Vietnam maintain FDI attractiveness

The Investor will hold a workshop on Friday to discuss solutions to maintain and improve Vietnam’s competitiveness and lure FDI as countries across the world prepare to implement the global minimum tax (GMT).

The GMT under OECD Pillar Two is a once-in-a-lifetime global tax reform. It is aimed at ensuring that multinational companies (MNCs) pay their fair share of taxes at 15%, regardless of where they operate.

A number of Organization for Economic Cooperation and Development (OECD) countries have announced to apply the new tax from the beginning of 2024.

The workshop in Hanoi will look at the progress of implementing the GMT in other countries and propose policies and solutions for Vietnam.

GMT enforcement will directly affect Vietnam’s budget revenue and competitiveness, and its ability to attract FDI.

At a conference on GMT and related issues organized by The Investor on June 14, 2022, experts and business leaders analyzed and assessed the would-be impacts of OECD Pillar Two on Vietnam, and proposed measures to take advantage of the opportunities to increase budget revenue while maintaining the competitiveness of Vietnam's investment environment.

Due to new developments in the implementation of Pillar Two around the world, this week’s workshop will gather opinions and suggestions from experts and the business community on how to increase state budget revenue associated with incentives and investment support in line with international commitments and the GMT.

The conference will be held (8:30 a.m February 24) at a Ministry of Planning and Investment office building, 65 Van Mieu street, Hanoi, on the first floor.

Participants will include representatives of ministries, business sectors and associations, Vietnamese and foreign investors, together with economic experts.

The OECD is a group of developed and richer countries.