Business

Global minimum tax application under consideration

The General Department of Taxation under the Ministry of Finance has said it will keep a close watch on the implementation of the global minimum tax in other countries, listen to opinions of firms impacted by the tax and study guidelines of the Organisation for Economic Cooperation and Development (OECD) to propose its application in Vietnam.
Global minimum tax application under consideration ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – The General Department ofTaxation under the Ministry of Finance has said it will keep a close watch onthe implementation of the global minimum tax in other countries, listen toopinions of firms impacted by the tax and study guidelines of the Organisation forEconomic Cooperation and Development (OECD) to propose its application inVietnam. 
The application of the global minimum tax should not create adverse impacts on Vietnam’s foreign investment attraction, and shouldensure the country’s tax collection right, said deputy head of the general departmentDang Ngoc Minh at a press conference held by the Finance Ministry inHanoi on March 30.

The OECD’s Pillar Two establishes a global minimumeffective corporate tax rate of 15% for large multinational enterprises (MNEs), which has important implications for the use of tax incentives around theworld.
Global minimum tax application under consideration ảnh 2Deputy head of the General Department of Taxation Dang Ngoc Minh speaks at the press conference. (Photo: VNA)
In Vietnam, a task force in charge of studying theglobal minimum tax and proposing relevant solutions was established in August2022 with Deputy Prime Minister Le Minh Khai as the head.

The Finance Ministry set up a working group inFebruary 2023, led by a deputy minister, to assist the task force.

The general department, which is assigned by theministry to study and propose the implementation of the global minimum tax,held a meeting with businesses on March 28 to acquire opinions raised byenterprises that may be impacted by the tax, according to Minh.

At the press conference, the official also clearedup queries regarding the roll-out of the electronic invoice system and value-addedtax refund./.

VNA
#OECD #Ministry of Finance #General Department of Taxation #tax collection right #Dang Ngoc Minh #Vietnam #VietnamPlus #Vietnam news
Follow VietnamPlus

Related News

Vietnam joins Multilateral Convention to tackle tax evasion and avoidance

Vietnam joins Multilateral Convention to tackle tax evasion and avoidance

The Organisation for Economic Cooperation and Development (OECD) and Vietnam on March 22 signed the world’s most wide-reaching international treaty for multilateral tax cooperation, the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC), bringing the total number of jurisdictions that participate in the convention to 147.

See more

Vietnamese Ambassador to the Republic of Korea Vu Ho speaks at the forum.(Photo: VNA)

Forum promotes Vietnam–RoK supply chain connectivity

Cao Thi Phi Van, Deputy Director of ITPC, said that after more than three decades of cooperation, Vietnam–RoK ties are shifting from traditional manufacturing cooperation towards mastering future-oriented technologies such as semiconductors, artificial intelligence (AI), digital finance, renewable energy and global supply chains.

Fitch Ratings gives positive assessment of Vietnam’s economic fundamentals (Illustrative image. Source: VNA)

Fitch Ratings gives positive assessment of Vietnam’s economic fundamentals

Deputy Minister Tran Quoc Phuong stressed that Fitch’s credit assessments have enhanced Vietnam’s image and credibility in international financial markets, and provided additional motivation for the country to continue improving institutions, strengthening policy management efficiency and increasing economic transparency.

Consumer purchases E10 biofuel at a PVOIL petrol station on Thai Thinh street in Hanoi. (Photo: VNA)

Hanoi strengthens oversight of transition to E10 biofuel

To ensure compliance with the transition roadmap, the Hanoi Market Surveillance Sub-Department has requested petrol traders to proactively review and upgrade storage tanks, fuel pumps and other technical conditions necessary for E10 distribution, thereby preventing disruptions to fuel supply serving consumption and production demands across the capital.

A Phu Tho civil servant guides a local how to switch from presumptive tax mechanism to tax sef-declaration. (Photo: VNA)

📝OP-ED: Vietnam’s tax reform: Fair play, not revenue squeeze

At a time when social media disinformation grows more sophisticated, transparency and public disclosure are the most potent counter to distortions. Facts, data and real-world results deliver the strongest rebuttal to attempts that twist reality and erode trust in tax administration reform.

Experts are expected to analyse opportunities for boosting exports and investment cooperation between Vietnam and South American countries at the coming seminar. (Illustrative photo: VNA)

Seminar on trade promotion in South American market to take place in Hanoi

A seminar on opportunities and challenges in developing the South American market will be held in Hanoi on May 28. It aims to provide updates on the economic outlook, market trends and import demand in South America, particularly in Argentina and Chile, amid continued fluctuations in global supply chains.

A view of the second Asia Agri Food International 2026 in Ho Chi Minh City on May 19 (Photo: VNA)

India pushes stronger agri-food cooperation with Vietnam

Experts noted that Vietnam has established itself as one of Southeast Asia’s leading agricultural product exporters, while India remains a major global supplier of agricultural and food products. By combining India’s production capacity and technological strengths with Vietnam’s dynamic processing and export ecosystem, the two countries can build more resilient supply chains in the region.

A panel discussion at the Meet Australia 2026 programme on May 19 (Photo: VNA)

Meet Australia 2026 promotes sustainable partnership opportunities

Meet Australia 2026 is not only a trade and investment promotion event but also a forum connecting trust, vision and action between Vietnam and Australia, as well as between national-level cooperation orientations and development needs of localities and businesses from both countries.

A customer purchases E10 biofuel petrol at a PVOIL station on Thai Thinh street in Hanoi. (Photo: VNA)

Authorities ordered to closely monitor rollout of E10 biofuel from June 1

According to the agency, the move is aimed at ensuring the effective and synchronised implementation of the E10 transition roadmap under Circular No. 50/2025/TT-BCT, issued by the Ministry of Industry and Trade on November 7, 2025. The plan seeks to avoid delays or supply disruptions that could affect the domestic fuel market.