The new tax policy applies from January 1, 2024

  1. Value-added tax

Reduce VAT from January 1, 2024 to June 30, 2024 for groups of goods and services (goods and services) subject to 10% VAT.

Except for:

  • Telecommunications, financial activities, banking, securities, insurance, real estate business…
  • Goods and services are subject to special consumption tax.
  • Information technology

Tax level:

  • Calculate tax using the deduction method: Reduce 2% VAT (to 8%).
  • Calculate tax using the percentage/revenue method: Reduce the percentage rate by 20% to calculate VAT.

Pursuant to: Resolution 110/2023/QH15, Decree 94/2023

  1. Global minimum tax
  • Officially applied from fiscal year 2024.
  • Minimum tax rate of 15%.
  • Subjects: Any company or organization belonging to a multinational corporation and any permanent establishment of a company or organization belonging to a group that has revenue in the company’s consolidated financial statements supreme parent for at least 2 years in the 4 years immediately preceding the fiscal year equivalent to 750 million euros or more.

Except for:

  • Government organizations
  • International organizations
  • Non-profit organization
  • Retirement fund
  • The investment fund is the ultimate parent company
  • Real estate investment organization is the ultimate parent company of a multinational corporation
  • Organizations with at least 85% of asset value owned directly or indirectly through the above organizations

Pursuant to: Resolution 107/2023/QH15