22 Feb URGENTLY DEVELOP A DECREE ON THE APPLICATION OF ADDITIONAL CORPORATE INCOME TAX
On the morning of February 22, 2002, the National Tax Service held a meeting to prepare a draft enforcement ordinance detailing the National Assembly resolution on the application of corporate income tax (CIT), which added provisions to prevent the erosion of the global tax base.
According to Director of the Policy Department Luu Duc Huy, on 29/11/ 2023, the National Assembly passed Resolution No. 107/2023/QH15 on applying additional corporate income tax according to regulations to prevent global tax base erosion. The Resolution takes effect from 01/01/2024, applicable from fiscal year 2024.
Next, on 08/01/2024, in Decision No. 19/QD-TTg, the Prime Minister issued a list and assigned agencies to preside over drafting documents detailing the implementation of Laws and Resolutions passed by the 15th National Assembly at its 6th session.
Accordingly, the Ministry of Finance was assigned to preside over the development of a Decree detailing some articles of the National Assembly Resolution on the application of additional corporate income tax according to regulations on preventing global tax base erosion (effective from 01/01/2024).
Implementing the direction of the Ministry of Finance, the General Department of Taxation has drafted a Decree detailing Resolution 107 to seek opinions from members participating in developing the Decree. Accordingly, the Draft Decree is in the process of asking for comments from member units participating in its development to urgently complete and submit to the Ministry of Finance for comments from ministries, branches, and relevant organizations and individuals.
At the meeting, after listening to direct and frank opinions from members participating in developing the Draft Decree, Deputy Director General Dang Ngoc Minh requested that the chairing unit should absorb all the comments to continue researching and perfecting the Draft.
At the same time, the Deputy Director General requested the members participating in the development of the Draft Decree to continue to coordinate closely and have many valid opinions, approaching the actual operations of the corporations that are the objects of cooperation. of Resolution 107/2023/QH15 to create maximum convenience for taxpayers in implementing the Decree.
Deputy Director General Dang Ngoc Minh requested the presiding unit to simultaneously organize surveys and organize many meetings, seminars, and discussions to develop a draft Decree detailing the Resolution. No. 107/2023/QH15. Accordingly, in the immediate future, Deputy Director General Dang Ngoc Minh requested the presiding unit to agree on completing the outline framework of the Draft Decree.
“The Policy Department needs to continue to record members’ opinions in writing and thoroughly analyze the comments to complete the Draft and submit it to the General Department’s Leadership for approval and submit it to the Ministry of Finance on schedule.” – Deputy Director General Dang Ngoc Minh proposed
