Vietnam: MAAC signed, intention to implement Pillar Two global minimum tax

Commitment to implement the OECD’s base erosion and profit shifting (BEPS) recommendations

Intention to implement Pillar Two global minimum tax

Vietnam on 22 March 2023 signed the Convention on Multilateral Administrative Assistance in Tax Matters (MAAC) to implement international cooperation for tax administration and prevention of tax evasion and avoidance.

MAAC creates a strong tax administrative measure for member countries (now with the addition of Vietnam consisting of 147 countries) for information exchange, cross border audit and inspection, support in collecting tax, and other activities to prevent tax evasion and avoidance.

By signing the MAAC, Vietnam also expresses its commitment to implement the OECD’s base erosion and profit shifting (BEPS) recommendations, including the Pillar Two global minimum tax.

Read a March 2023 report prepared by the KPMG member firm in Vietnam

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.