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SOLUTIONS FOR GLOBAL MINIMUM TAX IN VIETNAM: HOW?

When OEDC agreed to apply the Global Minimum Tax (GMT) at 15% to prevent multinational corporation tax evasion. The 15% tax would be applied to multinational firms with a consolidated revenue of at least €750 million ($800 million) in at least two of the most recent four years. As same as other countries, the Vietnam government has some plans to retain the investment of foreign partners for compensation for the losses like land access, costs for scientific research, human resource training, and infrastructure. Are those long-term solutions?

The cost burden will be transferred to the Vietnam side to exchange the presence of the foreign investors in our country and they still have to pay the same of 15% GMT. Then one wins, and one loses.

HOW DO WE AVOID THAT?

All enterprises and government agencies could work hand in hand to improve the effectiveness of services, infrastructure, and policies to enhance the productivity of their whole economy including foreign investment businesses. The effectiveness then will keep or hold foreign investors stronger as they feel they are treated well, and their production or investment here is much more beneficial than in other countries.

In that, logistics is one of the key elements in the supply chain to affect foreign investment keep their feet here. That is what Voltrans Logistics has been doing with customers including foreign traders/producers in the improvement of logistics effectiveness in terms of cost and time.

By Thomas
Voltrans Logistics – Your Ware Our Care