Analysis of the current situation and solutions for controlling global minimum tax revenues in Vietnam for the State Audit Office

Abstract

In the context of extensive international economic integration, Vietnam's official internalization of the Global Minimum Tax (GMT) - via Resolution No. 107/2023/QH15 effective from the 2024 fiscal year - marks a significant turning point in fiscal policy. With an estimated 122 multinational enterprises (MNEs) affected and a potential budget revenue increase of approximately 14,600 billion VND per year, this represents a vital financial resource that requires stringent oversight. Practical implementation indicates that the State Audit Office of Vietnam (SAV) is facing unprecedented challenges, particularly regarding the shortage of cross-border data, gaps in audit capacity according to international standards (IFRS/GloBE Rules), and barriers in international coordination mechanisms. Research findings highlight two primary bottlenecks: the lag in digital auditing tools and limitations in risk-based approaches toward complex related-party transactions. Based on the experiences of Supreme Audit Institutions (SAIs) worldwide, the author proposes a system of strategic solutions. These include refining the legal framework, providing specialized human resource training and accelerating digital transformation to enhance audit effectiveness and realize SAV’s Development Strategy to 2030.