Vietnam GDP growth can reach 5-6.7% in 2024: finance institutions

Vietnam GDP growth can reach 5-6.7% in 2024: finance institutions

Foreign organizations have expressed a positive outlook about Vietnam’s GDP growth next year on the basis that the country’s economic growth is likely to surpass 5% this year as forecast by Party General Secretary Nguyen Phu Trong.

A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam approves global minimum tax, gov’t to build supporting policy

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

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 $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

Foreign investors bet on Vietnam’s growth: minister

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

Global economy likely to grow 3% in 2023, 2.7% in 2024: OECD

Global economy likely to grow 3% in 2023, 2.7% in 2024: OECD

The global economic growth can fall from 3.3% in 2022 to 3% this year and then slow down to 2.7% in 2024, the OECD said in its September interim edition of the OECD Economic Outlook.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam economy expected to grow 6.5% this year: OECD

Vietnam economy expected to grow 6.5% this year: OECD

Vietnam is likely to achieve GDP growth of 6.5% in 2023 and 6.6% in 2024, according to a report released by OECD on Wednesday.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Global minimum tax - opportunities and challenges for Vietnam

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

Response to Global Anti-Base Erosion model rules: key considerations for Vietnam

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 offers big opportunities for Vietnam: expert

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

Global minimum tax workshop to help Vietnam maintain FDI attractiveness

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

Global minimum tax hot issue facing Vietnam

Global minimum tax hot issue facing Vietnam

Vietnam should be paying closer attention to the global minimum corporate tax rate, given the country attracts foreign investors.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam economy to expand over 6%: OECD

Vietnam economy to expand over 6%: OECD

The Organization for Economic Cooperation and Development (OECD), a group of mainly high-income economies, forecasts Vietnam's growth will exceed 6% this year and the next thanks to its post-pandemic recovery amid global recessions.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam to form Global Minimum Tax task force

Vietnam to form Global Minimum Tax task force

The Vietnamese government is due to establish a task group specialized in implementing the "Global Minimum Tax" rule in the OECD’s Base Erosion and Profit Shifting (BEPS) actions, a Government Office official said Tuesday.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Global minimum tax workshop to help lure new foreign investors

Global minimum tax workshop to help lure new foreign investors

The Investor will host a workshop Tuesday on the "Global Minimum Tax" rule in the OECD’s Base Erosion and Profit Shifting (BEPS) actions, which remain quite new to countries attractive among foreign investors.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Implications of global minimum tax rate on investment environment

Implications of global minimum tax rate on investment environment

The concept of a global minimum tax rate, contained within a framework developed by the OECD/G20 Inclusive Framework, has caught the attention of numerous global companies. The Investor talks with Robert King, Indochina Tax Market Leader at EY, about his recommendations for implementation and maintaining an attractive investment environment.

Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam mulls means to apply 'global minimum tax'

Vietnam mulls means to apply 'global minimum tax'

Vietnam is calling for ideas from foreign companies and business associations on how to apply the "Global Minimum Tax" rule in Base Erosion and Profit Shifting (BEPS) actions of the OECD suited to both foreign investors and the government. Dr. Dang Ngoc Minh, deputy chief at the General Department of Taxation, talks with The Investor about the details.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7