Binh Duong is proactive in global minimum tax

According to Institute of Policy Administration, Binh Duong is the first locality that cooperates with Institute of Policy Administration to survey FDI firms in the province and develop FDI attraction strategies while the global minimum tax is going to be applied.

Results of the survey will be sent to the Prime Minister's Working Group on the global minimum tax rate, chaired by Deputy Prime Minister Le Minh Khai, to help the Government and the National Assembly make proactive decisions in the law-making process.

Binh Duong actively develops a strategy to attract FDI while the global minimum tax is going to be applied.

The global minimum tax policy is required to apply from January 1, 2024. The global minimum corporate tax rate of 15% is tending to disturb the strategy of investment locations and the way multinational companies operate, and Vietnam's strategy for FDI attraction is also affected. The global minimum tax rate sets new requirements for the business community in general and investment attraction policies in particular.

Binh Duong is planning for an investment promotion conference in 2023 to help the business community connect and participate in the expert - entrepreneur - media ecosystem in the Vietnam Development Strategy to share information, strengthen policy suggestions, accompanies database links to create the most favorable environment for businesses.

Reported by Ngoc Thanh - Translated by Ngoc Huynh