Vietnam set to raise effective tax rate on multinationals as part of global deal

HANOI (Reuters): Vietnam's parliament is set to approve on Wednesday (Nov 29) a top-up tax for multinationals, which will raise the effective rate of the corporate levy to 15% from January in line with a global agreement.

Vietnam had initially planned to combine the approval of the tax with measures to partly compensate large foreign investors affected by the higher levy, including South Korean electronics giant Samsung Electronics Co Ltd and U.S. chipmaker Intel Corp, but the separate resolution is not on the parliament's agenda.