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42 foreign service providers fulfill tax obligations in Vietnam
Up to 42 foreign service providers have registered, declared and paid tax with a total amount of VND 1.9 trillion (US$ 82 million) to the portal for tax payment of cross border activities, according to the General Department of Taxation.
The portal for tax payment of cross border activities was launched on March 21, 2022, serving to collect tax of foreign service providers in Viet Nam.
Over the last eight months, 42 foreign service portals have registered, declared and paid taxes through the portal.
They came from different countries and territories namely the U.S., the Netherlands, the RoK, Singapore, Hong Kong (China), Ireland, Lithuania, Switzerland, and Australia.
Of the total VND 3,444 billion in tax revenue collected via the portal tax payment, foreign service providers paid US$ 82 billion. Vietnamese side paid the rest of VND 1,544 billion.
Big six business giants – Meta (Facebook), Google, Microsoft, TikTok, Netflix, and Apple – together account for 90 percent of the e-business on cross-border digital platforms in Viet Nam in terms of revenue paid hundreds of millions of USD in taxes to the State budget. Specifically, Facebook and Google paid VND 1,748 billion and VND 979 billion, respectively.
In 2021, Viet Nam’s e-commerce market grew by 53 percent to US$ 21 billion in which the value of the Internet economy ranked third in Southeast Asia./. VGP