domestic revenue

Prime Minister Pham Minh Chinh signed Directive No. 21/CT-TTg on the development of socioeconomic development plans and state budget estimates for 2024. Accordingly, the goal of domestic revenue in 2024 will rise by 5-7% compared to 2023.

In the context of a concerted global effort to establish a minimum corporate income tax (CIT) rate, global minimum taxation (GMT) will provide opportunities for developing countries in East Asia and the Pacific to increase domestic revenues. Countries in the region must seize this opportunity and use the globally coordinated mechanism of GMT as a motive for overcoming the region's harmful tax competition.