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HANOI: Samsung<\/a> and other foreign companies are pushing Vietnam<\/a> to introduce a multi-million-dollar reform that would compensate them for higher levies they face from next year under a global overhaul of tax rules, a source involved in the talks said.
The discussions precede the introduction from January of a minimum tax rate of 15% for large multinationals under a landmark global reform led by the Organisation for Economic Cooperation and Development (OECD<\/a>).
Vietnam has committed to comply with the OECD rule, effectively raising the tax rate to 15% for many of the multinationals operating in the country and who are currently taxed at a much lower rate thanks to various sweeteners.
The global rule requires companies paying less in a low-tax jurisdiction to face a top-up levy in their home country.
A top-up levy means foreign companies could pull out precious foreign exchange from Vietnam to comply with the rule, and Hanoi's decision to implement the higher 15% tax rate and plans for compensation are aimed at preventing this from happening.
The Southeast Asian nation, which heavily relies on foreign investment to pump prime its economy, fears the cross-border rule could make it less attractive to large multinationals.
\"If this is not fully resolved, Vietnam's competitiveness will fade,\" said Hong Sun, chairman of Korea Chamber of Business<\/a> in Vietnam, noting that South Korean investors were particularly sensitive to those changes.
In a meeting with government officials in April, Korean tech giants Samsung Electronics and LG Electronics<\/a>, U.S. chipmaker<\/a> Intel<\/a> and Germany's Bosch<\/a> were among half a dozen large investors who pushed for compensations, the source who attended the meeting said.
Under pressure, the government is preparing a draft resolution that could be approved by the Parliament in October offering partial compensations to big firms, the source said, declining to be named because the discussions were internal.
None of the companies replied to requests for comments.
The firms have invested tens of billions of dollars in the country and are major employers. Samsung, for example, is the biggest single foreign investor in Vietnam, employs 160,000 people and produces half of its smartphones in the country, accounting for nearly one fifth of the nation's total exports.
Samsung's tax rate varies by district, and ranged between 5.1% and 6.2% in 2019 in the two northern provinces where it produces smartphones, according to government data cited by local media.
Under the proposed compensation resolution, still subject to changes, companies with large investments in Vietnam would be allowed to receive after-tax cash handouts or refundable tax credits to support their manufacturing or research outlays.
The total cost of the planned measure is estimated at several hundreds millions of dollars a year, the source said, noting that the bill for Vietnam would amount to at least $200 million annually.
However, the costs should roughly match the extra revenues that Vietnam is expected to raise from the higher taxes it will be imposing on big multinationals under the new global rules, the source said.
Smaller companies that are not within the scope of the new global rules may also receive handouts, the source said. This is expected to reduce potential frictions with OECD rules.
Vietnam's ministry for planning and investment and the OECD did not reply to requests for comment.
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河内:三星和其他外国公司正在推动越南引入一个数百万美元的改革,弥补他们面临更高的税从明年开始在全球改革税收规则,参与谈判的一位消息人士说。
讨论之前的介绍从1月最低15%的税率全球大型跨国公司在一个具有里程碑意义的改革由经济合作与发展组织(经济合作与发展组织)。
越南已承诺遵守经合组织规则,有效地提高税率为15%的许多跨国公司在中国运营,目前税率更低的利率由于各种甜味剂。
全球规则要求公司支付更少的税收管辖权面临充值利维在本国。
充值征税意味着外国公司可以抽出宝贵的外汇从越南遵守规则,和河内的决策来实现更高的赔偿15%的税率和计划是为了防止这种情况的发生。
东南亚国家,严重依赖外资注入经济,担心跨境规则会使大型跨国公司的吸引力。
“如果这不是完全解决,越南的竞争力将会消退,”香港太阳说,主席韩国商会业务在越南,他指出,韩国投资者对这些变化十分敏感。
在会见政府官员今年4月,朝鲜科技巨头三星电子(Samsung Electronics)和LG电子(LG Electronics),美国芯片制造商 英特尔和德国的博世等六个大的投资者推动补偿,源谁出席了会议。
的压力下,政府正在准备一项决议草案,可以经议会批准10月为大公司提供部分补偿,该消息人士称,拒绝透露姓名,因为讨论内部。
没有一个公司回复评论的请求。
公司投资数百亿美元,是主要的雇主。例如,三星是最大的单一外国投资者在越南,雇佣了160000人,生产一半的智能手机,占全国出口总额的近五分之一。
由区三星的税率不同,介于5.1%和6.2%之间两个北部省份2019年生产智能手机,据当地媒体援引政府数据。
根据该赔偿解决,仍然受制于变化,大量投资在越南的公司将被允许接收税后现金补贴或退税支持生产或研究支出。
计划的总成本衡量估计每年数百数百万美元,消息来源指出,该法案对越南每年至少2亿美元。
然而,越南的成本应该大致符合额外的收入预计将提高更高的税收将会实施的大型跨国公司在新的全球规则,该消息人士称。
规模较小的公司没有新的全球范围内的规则也可以得到救济,该消息人士称。这将减少潜在的摩擦与经合组织规则。
越南的规划和投资与经济合作与发展组织(OECD)没有回复记者的置评请求。
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