OFFICIAL LETTER NO. 372/TCT-CS ON GLOBAL MINIMUM TAX POLICY ISSUED BY THE GENERAL DEPARTMENT OF TAXATION

On January 22, 2025, the General Department of Taxation issued Official Letter No. 372/TCT-CS regarding the implementation of the global minimum tax policy.

According to the General Department of Taxation, if the constituent units in Vietnam of a multinational group are subject to the global minimum tax regulations and meet the conditions for corporate income tax incentives, they will continue to enjoy these incentives according to current corporate income tax laws.

However, based on Articles 2 and 4 of Resolution No. 107/2023/QH15, if after applying tax incentives the actual tax rate of the group in Vietnam is below the minimum tax rate of 15%, additional corporate income tax must be paid according to the global minimum tax regulations.