[Webinar Recap] Global Minimum Tax Rate – Pillar 2: What’s Next For Vietnam

On 16 August 2022, EuroCham organised a webinar on the topic “Global minimum tax rate – Pillar 2: What’s next for Vietnam". Mr. Minh Nguyen (Mazars), EuroCham Vice-Chairman, moderated the event. There were over 50 participants, including members and non-members, as well as the following invited speakers:

  • Ms. Annett Perschmann-Taubert, Partner, Tax and Legal Services at PwC Vietnam
  • Mr. Anh Duong Nguyen, Director of Department for General Economic Issues and Integration Studies, CIEM

Mr. Minh Nguyen opened the webinar with some welcoming remarks and a quick overview of the 15 percent global minimum corporate tax rate, which is set to take effect in 2023.

Ms. Annett Perschmann-Taubert continued on to discuss pillar two and its impact on Vietnam. She emphasised that pillar two will cause increased competition for investments globally because tax incentives will no longer be an option. Additionally, she suggested ways for Vietnam to remain attractive to investors, such as political stability, macroeconomic resilience, consistency of policy, infrastructure development, and a stable labour market.

Then, Mr. Anh Duong Nguyen shared his perspective. To begin with, he outlined the global context of the global minimum tax, namely the post-pandemic economic recovery, the emergence of novel viruses, supply chain disruptions, and so on. Furthermore, he discussed foreign investors' concerns and offered suggestions for attracting FDI without engaging in a "race to the bottom".

Following the presentation, participants and speakers engaged in a lively Q&A session. A lot of questions were asked, and we had a deep discussion on whether the global minimum tax is mandatory, whether the tax only applies to multinationals whose parent company earned at least 750 million euros, and so on.
Ms. Minh Nguyen concluded the webinar with words of praise for all participants.

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