Vietnam National Assembly officially issued Resolution No. 107/2023/QH15 dated November 29th, 2023 on applying additional corporate income tax (CIT) according to global anti-base erosion rules from January 1, 2024.

Any constituent entity of a Multinational Enterprise (MNE) Group that generates a revenue of at least 750 million euros (EUR) for at least 02 years out of 04 years preceding the fiscal year according to the consolidated financial statement of its ultimate parent entity, except for the following cases:

 

·       Governmental entities;

·       International organizations;

·       Non-profit organizations;

·       Pension funds

·       Any investment fund that is an ultimate parent entity;

·       Any real estate investment vehicle that is an ultimate parent entity;

·       Any entity where at least 85% of its asset value is owned directly or through a chain of excluded entities mentioned above.