On 29 November 2023, the National Assembly approved Resolution 107/2023/QH15 ("Resolution 107") promising to bring further changes in Corporate Income Tax ("CIT") when implementing the Global Minimum Tax. Vietnam has reinforced its commitment to apply the Global Minimum Tax by enhancing the legal framework for Global Anti-Base Erosion (“GloBE”) Rules (Global Minimum Tax Regulation) to align with Pillar 2 of the Organization for Economic Co-operation and Development (“OECD”).
The main contents outlined in the Resolution are as follows:
1. Taxpayer
2. Qualified Domestic Minimum Top-Up Tax (QDMTT)
3. Income Inclusion Rule (IIR)
4. Tax declaration and payment
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