"Vietnam Joins Global Effort to Increase Tax Rates for Multinational Corporations"
Vietnam's parliament is expected to approve a top-up tax for multinationals, raising the effective corporate levy rate to 15% from January in line with a global agreement. The separate resolution to compensate large foreign investors affected by the higher levy, including Samsung and Intel, is not on the parliament's agenda. The controversial tax could reduce Vietnam's appeal among foreign companies if not accompanied by subsidies. The parliament initially ruled out a vote on the tax but has now added it back to its schedule. The new rules, guided by the OECD, will require companies paying less than 15% in a low-tax jurisdiction to face a top-up levy from next year.