The foreign direct investment (FDI) businesses contributed over 2 trillion VND (86 million USD) to the budget collection, surpassing 21.2 percent while the collection to license mining right hit nearly 16 billion VND, exceeding 30.8 percent.

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Meanwhile, the collection of public land fund reached more than 24 billion VND, exceeding nearly 21 percent and dividend income hit nearly 11 billion VND, exceeding 76%.

Apart from these above collections, 8 out of 15 other revenues in the province meet the schedule. From now till this year end, the provincial Taxation Department will continue urging all tax collections to raise the collection of lower revenues such as land use fee, environmental protection tax, registration fee… so as to complete the domestic revenue of 13 trillion VND assigned by the province.

Tax revenue reaches 663.843 trillion VND in first five months

Vietnam’s tax revenue in the first five months of 2023 was estimated at 663.843 trillion VND (28.27 billion USD), as shown by data from the General Department of Taxation (GDT).

PM pledges support if global minimum tax applied

The government will provide solutions and support to help investors and new projects if the proposed global minimum tax is applied.

Vietnam adapts to global minimum tax

The Vietnamese Government has been closely following the reality and consulting the experiences from other countries on the implementation of the global minimum tax to soon make appropriate policies, towards creating opportunities for foreign enterprises to operate smoothly and make greater contributions to Vietnam without affecting the interests of investors.

Global minimum tax application under consideration

The General Department of Taxation under the Ministry of Finance has said it will keep a close watch on the implementation of the global minimum tax in other countries, listen to opinions of firms impacted by the tax and study guidelines of the Organisation for Economic Cooperation and Development (OECD) to propose its application in Vietnam.

Vietnam should proactively participate in global minimum tax mechanism

The implementation of the global minimum corporate tax will directly affect Vietnam’s efforts to attract foreign direct investment (FDI). With a minimum tax rate of 15% imposed on multinational companies, measures to attract foreign capital through tax incentives will no longer be effective.