Delegate Ta Thi Yen and Venerable Thich Duc Thien agreed with the content of the Government's submission, stating that the global minimum tax is not an international treaty, nor is it an international commitment , so countries are not required to apply it. However, if Vietnam does not apply it, it must still accept that other countries applying the global minimum tax have the right to collect additional taxes on enterprises in Vietnam (if they are subject to the application) that enjoy an actual tax rate in Vietnam lower than the global minimum rate of 15%, especially enterprises with foreign investment capital.

“This means that no matter how much corporate income tax incentives we give to FDI enterprises ( below 15%) , other countries will still collect the difference from those enterprises. Therefore, Vietnam needs to apply the global minimum tax as an additional corporate income tax to ensure its legitimate rights and interests, ” affirmed delegate Ta Thi Yen.

According to the draft Resolution, the application of additional corporate income tax according to the regulations against global tax base erosion applies to member companies of multinational corporations with revenue scale in the consolidated financial statements of the ultimate parent company of at least 2 years in the 4 consecutive years before the fiscal year equivalent to EUR 750 million or more. The application period , from fiscal year 2024 , coincides with the common roadmap of countries, to ensure the legitimate rights and interests of Vietnam; create a level of trust between enterprises and the State so that enterprises can feel secure, continue to invest and expand investment in Vietnam; demonstrate progress and transparency in the tax management system and business investment environment approaching international standards, while maintaining current preferential policies applied to enterprises not subject to the global minimum tax.

After applying the additional corporate income tax, delegate Ta Thi Yen suggested that the Ministry of Finance should assess the impact of the additional corporate income tax policy on state budget revenue in order to rebalance the medium-term state budget for the 5-year period 2021-2025, review and adjust spending policies, possibly increasing spending on development investment, and report to the National Assembly, because corporate income tax is always considered a strong tool for the Government to regulate the macro economy.

Delegate Ta Thi Yen said: “Once there is additional revenue for the state budget from this additional corporate tax, the Government can consider, weigh, and report to the National Assembly to amend personal income tax in the direction of: adjusting the family deduction level as well as the taxable income threshold of personal income tax to attract high-quality human resources, including from other countries, to ease people's burden, stimulate consumption, stimulate economic development according to the general trend and orient tax policy reform".

Delegates predicted that the application of additional corporate income tax under the regulations against global tax base erosion would likely eliminate one of the important tax incentives that FDI enterprises had hoped to enjoy when investing in Vietnam. To continue attracting foreign direct investment, delegate Most Venerable Thich Duc Thien suggested that the Government soon direct ministries and branches to study policies to ensure the foreign investment environment in Vietnam.

Delegate Ta Thi Yen believes that the Government, ministries, sectors and localities will find new economic levers, including other incentives or new non-economic solutions that are appropriate, effective and comprehensive, promoting comparative advantages, improving the investment environment, production and business, quality of human resources, administrative procedures of their sectors and localities, so that the process of shifting investment capital into Vietnam continues to take place smoothly, especially when investing in high-tech and new energy sectors, bringing jobs, income to the people and development to the country.