Samsung willing to pay more under global minimum tax scheme in Vietnam
South Korean conglomerate Samsung stands ready to pay more taxes in Vietnam in line with the Global Minimum Tax (GMT) roadmap, Dong Thi Hong Anh, chief accountant of its Vietnam operations said Tuesday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam should proactively implement Global Minimum Tax: official
Although the Global Minimum Tax is not mandatory, Vietnam should implement it proactively because it can increase tax revenues, further international integration and create new opportunities, a senior tax official says.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Peer reviews to referee global minimum tax implementation disputes: expert
The Global Minimum Tax being a complicated affair, peer reviews are likely to referee different interpretations, Jonathan Pemberton, a senior advisor with the Washington D.C.-based International Tax and Investment Center (ITIC), said Tuesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
International workshop on Pillar 2 Global Minimum Tax implementation to be held in Hanoi
The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and the Washington D.C.-based International Tax and Investment Center (ITIC) will hold an international workshop themed "Pillar 2 Global Minimum Tax Implementation in Vietnam" on Tuesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
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
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
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 considers cost-based incentives to attract more FDI
Vietnam should consider cost-based incentives as it renews policies to attract foreign direct investment (FDI) because those currently in vogue are becoming outdated, says the Ministry of Planning and Investment.
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 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
Samsung urges Vietnam to find global minimum tax solutions
The government and legislature of Vietnam should check and issue solutions related to the global minimum tax (GMT), Samsung Electronics president and CFO Hark Kyu Park has said.
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
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 to approve global minimum tax policy in October: prime minister
The Vietnamese government will submit global minimum tax (GMT) resolutions to the National Assembly, the country's highest legislative body, for approval in October.
Finance - 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
48% of European firms expect to expand Vietnam investment: EuroCham
A survey conducted by EuroCham has found that 48% of European businesses expect to increase their investments in Vietnam by the end of the next quarter, the commerce chamber said in its Business Confidence Index (BCI) report for the second quarter of this year.
Economy - 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's FDI inflows to remain resilient
VinaCapital’s chief economist Michael Kokalari points out reasons why Vietnam continues to be a prime destination for foreign direct investment (FDI), particularly from multinationals looking to produce for export and seeking an alternative and/or additional manufacturing base to China.
Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7
FDI enterprises should not cut-and-run after enjoying benefits in Vietnam: Samsung CEO
Foreign companies should not take advantage of the benefits Vietnam has to offer and then just leave; they have a responsibility to accompany the Vietnamese people in the spirit of "harmonious benefits, shared risks", said Samsung Vietnam CEO Choi Joo Ho.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Energy, global minimum tax issues top government-corporate dialogue
Energy development policies and the impact of the Global Minimum Tax (GMT) were two of the issues that took center stage at a meeting between Vietnamese government leaders and foreign corporate representatives on Saturday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam government looks at Samsung's Global Minimum Tax proposals
The Vietnamese government has already studied Samsung's proposals regarding the country's implementation of the Global Minimum Tax in 2024, and regulators are supposed to promptly work out proper relevant solutions, Deputy Prime Minister Le Minh Khai said.
Companies - 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
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
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
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 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).
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
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