Continuing the 6th Session program, this morning (November 29), the National Assembly voted to pass a Resolution on applying additional corporate income tax according to regulations against global tax base erosion.
The voting results at the hall showed that 462 delegates voted in favor (accounting for 93.52%). Accordingly, the National Assembly officially passed the Resolution on applying additional corporate income tax according to the regulations against global tax base erosion.
The National Assembly officially passed a Resolution on applying additional corporate income tax according to regulations against global tax base erosion (Photo: Quochoi.vn).
Previously, presenting the Report on explanation, acceptance and revision of the draft Resolution on the application of additional corporate income tax according to regulations against global tax base erosion, Member of the Standing Committee of the National Assembly, Chairman of the Finance and Budget Committee of the National Assembly Le Quang Manh said that, basically, the National Assembly deputies highly agreed on the necessity of issuing a Resolution to proactively integrate internationally, internalize OECD regulations to maintain the right to impose global minimum tax in Vietnam.
According to the Chairman of the National Assembly's Finance and Budget Committee, Le Quang Manh, investors subject to adjustment will be required to pay global minimum tax in Vietnam and there is also a possibility that they will file a lawsuit if they want to pay this tax back to their home country. Therefore, at the same time as issuing this Resolution, it is recommended that the Government proactively prepare and have effective and appropriate solutions and handling plans in case of possible disputes and lawsuits to ensure the investment environment.
Chairman of the National Assembly's Finance and Budget Committee Le Quang Manh (Photo: Quochoi.vn).
Regarding the investment environment, some opinions suggested that the Government should make a comprehensive assessment of the investment environment when implementing the global minimum tax in order to have appropriate investment incentive solutions and resolve problems for current investors.
Some opinions suggested clarifying whether enterprises investing in Vietnam after the Resolution takes effect will be subject to tax investment incentives under the provisions of the Law on Corporate Income Tax or tax rates under the provisions of the Resolution.
In response to the opinions of National Assembly deputies, the National Assembly Standing Committee proposed that the Government carry out a comprehensive assessment of the current system of tax incentives and promptly develop a project to amend and supplement the Law on Corporate Income Tax along with a plan to adjust the system of tax rates and tax incentives appropriately.
Many opinions are concerned about the issue of ensuring the investment environment and request the Government to urgently have other appropriate preferential policy solutions to continue maintaining the investment environment when implementing the global minimum tax.
Some opinions suggest that this revenue can be used to implement other support activities besides taxes and that this revenue source should be used reasonably and for the right purpose, which is to attract and improve the investment environment, as experienced by Thailand, and should be included for domestic enterprises.
Some opinions suggested including in the General Resolution of the session the content expressing the National Assembly's concern for the interests of investors affected by the implementation of the global minimum tax; accordingly, it is necessary to issue new investment support policies, replacing and compensating for tax incentives that will no longer be effective when implementing the global minimum tax so that investors can feel secure about the investment environment in Vietnam.
There are opinions suggesting that this Resolution should not be passed if the Resolution on investment support has not been passed.
Chairman of the National Assembly's Finance and Budget Committee Le Quang Manh affirmed that implementing the global minimum tax requires new investment support policies to replace tax incentives that are no longer effective in practice so that investors can feel secure about the investment environment in Vietnam and attract large, strategic investors, while supporting domestic enterprises.
Source
Comment (0)