Vietnam’s Corporate Incentives to Offset Minimum Tax Too Limited

Business groups are critical of Vietnam’s financial support plan to soften the impact of the global minimum tax on multinationals, saying it’s too vague and narrow in scope, with only large projects able to meet its eligibility conditions.

The government is considering direct cash supports for investment costs of creating fixed assets and for social infrastructure systems. It’s also planning support for costs related to training and development, and production of high-tech products.

The plan doesn’t clearly define what “high-tech” encompasses in the context of the new law, according to Leif Schneider, co-chair of the legal sector committee at the ...