This post is also available in:
简体中文 (Chinese)
On November 29, Vietnam approved the implementation of the world’s lowest tax on multinational companies, forcing more than 100 foreign companies, including electronics giant Samsung, to pay higher tax rates.
In 2021, more than 130 countries, accounting for 90% of the world economy, agreed to set the global minimum tax rate at 15% to end the situation of large companies looking for low tax rates everywhere.
Vietnam’s corporate income tax has reached as high as 20%, but currently offers preferential rates to large foreign investors. According to the Vietnam Taxation Bureau, the tax increase expected to take effect early next year will affect approximately 122 foreign-funded multinational groups in Vietnam.
(Source: Sin Chew Daily Picture source: freepik)
