The year-over-year global inflation rate is poised to decline to 3.5 percent by the end of next year from 5.3 percent this year. That is down from its peak of 9.4 percent in 2022… The I.M.F. upgraded its projection for output in the United States this year to 2.8 percent from an...
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Pillar 2 Under the BEPS Pillar 2 model issued by the OECD, each in-scope multinational enterprise should pay a minimum effective tax rate of 15% on profits in each of the jurisdictions where they operate. On 29 November 2023, the Resolution on Global Minimum Tax policy in Viet Nam ("the...
Approved incentive scheme The approved incentive scheme was introduced from year of assessment 2021 to provide for a lower tax rate i.e. not more than 20% on the chargeable income of a person who carries on a business in respect of a qualifying activity under an incentive scheme approved by...
Incentive: (i) 3% tax rate on chargeable profits as reflected in audited accounts; or (ii) Tax exemption on chargeable profit for first 3 years of its operation if the company is licenced before 31 December 2014 to be purely in the trading of LNG. Thereafter, it will be subject to tax...