Progress Update on IBFD’s capacity building project in Vietnam

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Since our last update in June, we have continued assisting Vietnam’s General Department of Taxation (GDT) in the drafting of regulations to implement the Global Minimum Tax (GMT) rules in line with the OECD/Inclusive Framework Two-Pillar Solution. The assistance is part of the GIZ project “Strengthening Public Financial Management in Viet Nam”, co-funded by the European Union and the German Government.

IBFD - GIZ VN

In November 2024, GDT made a draft decree providing regulations to the GMT law publicly available for comments, and organized two public consultations with Vietnamese taxpayers. IBFD actively participated in these public consultations together with GIZ. GDT publicly acknowledged IBFD’s contributions and the importance of our ongoing collaboration. 

Public Consultations in Hanoi and Ho Chi Minh City                          

On 28 November, the first public consultation was organized by GDT, bringing together key stakeholders from Ministry of Finance and other relevant ministries, the business sector and civil society. The Deputy Director General of GDT, Mr. Dang Ngoc Minh, chaired the meeting and presentations were conducted by representatives from all the Big4s, the American Chamber of Commerce, Korean Chamber of Commerce and from the business sector.  GIZ was represented by Trang Nguyen Thi Huyen and Peter Wenzel. IBFD was represented by Carlos Gutiérrez P. and Shee Boon Law , which gave a presentation providing comments on the consistency between the draft decree and the OECD Model Rules, as well as responding to questions from the GDT and taxpayer representatives. 

The second public consultation was held on 5 December, where Carlos Gutiérrez represented IBFD. Similar to the first public consultation, Carlos was requested to present and address issues put forward by different stakeholders.   

Work with GDT drafting team 

While in Hanoi, Carlos was also invited to work with the GDT team working to incorporate feedback received from the public consultation into the draft regulations. Shee Boon also participated online. This was a unique opportunity to further IBFD's working relationship with the GDT and the drafting team. 

Assistance from the Knowledge Centre

Since early October, in anticipation of the release of the draft decree, a team of researchers from the Knowledge Centre has assisted the IBFD Vietnam Project Team reviewing and commenting on the draft decree. This exercise has proved to be an invaluable contribution to this project. 

Acknowledgments

Behind all these results and milestones, we cannot forget the invaluable contribution of all colleagues to make this project possible: Carlos Gutiérrez P., Shee Boon Law, Bob Michel, Birhanu Tadesse Daba, Wendela van Agtmaal; and the Knowledge Centre researchers represented by Vanessa Arruda Ferreira, Diana Calderon Manrique, Ximena Garcia, Nikita Lingbawan, Yvette Nakibuule, Andreas Perdelwitz and Ruxandra Vlasceanu. Finally, the project management team consisting of Myra Flaminiano, Robert McLaren and Alba Terroba Sanchez for their continued support.