Introducing policies to come up with the global minimum tax was essential for Việt Nam to ensure tax revenue but remain attractive to foreign investors as many countries are adopting the initiative. The global minimum tax of 15 per cent is part of a two-pillar initiative of the Organisation for Economic Co-operation and Development (OECD), Base Erosion and Profit Shifting (BEPS). Countries receiving foreign investment, including Việt Nam, are studying policies to complement the global minimum tax. If Việt Nam does not apply the global minimum tax, it still has to accept that other countries will apply it and have the right to collect top-up taxes on MNEs paying a lower tax rate than the global minimum tax for their investments in Việt Nam. The tax authority estimated that about 112 MNEs in Việt Nam would be affected by the global minimum tax if it was applied from 2024.
