Vietnam: NA passes resolution to implement Pillar 2 global minimum tax


On 29 November 2023, the National Assembly (NA) passed a resolution to implement the Pillar 2 global minimum tax rules. According to this resolution, multinational enterprises with a total consolidated revenue exceeding €750 million (around $800 million) in any two out of the past four years will be subject to a minimum tax rate of 15%. Aligning with the OECD’s GloBE model, Vietnam’s new tax rules include IIR and QDMTT to close loopholes for multinationals and boost tax revenue.

The resolution’s provisions come into force on 1 January 2024 and will be applied to the 2024 fiscal year and all subsequent fiscal years.



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