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Seven four cross-border digital platforms, including Meta, Google, Netflix, and TikTok, have paid taxes of VND8.02 trillion (US$334.1 million) this year, more than double the amount last year. The General Department of Taxation said as of June some 57 had…
Sixty-seven cross-border digital platforms, including Meta, Google, TikTok, and Microsoft have paid taxes of VND5.8 trillion (US$241.7 million) so far this year compared with VND3.5 trillion for 2022. The General Department of Taxation said it would urge…
A Samsung subsidiary based in Ho Chi Minh City has not received a VAT refund of US$44 million for two years due to red tape. Samsung Electronics HCMC CE Complex (SEHC), which exports around 90% of its products, formally became an export-processing company in…
The government has rejected a proposal by the Ministry of Finance to slap a special consumption tax on online games and sought more scientific data to tax sugary drinks. But in a recent decision, it instructed its agencies to use other legal means to limit…
Vietnam collected VND3.94 trillion (US$166.5 million) in taxes from 57 foreign online platforms including Google, Apple, Facebook, Netflix, and TikTok in the first half of this year. Of the sum, VND3.4 trillion was paid directly via the portal of the General…
The proposed global minimum tax would weaken the international business environment in Vietnam by eliminating preferential tax policies for foreign direct investment (FDI), said Samsung Vietnam CEO Choi Joo Ho. The global minimum corporate tax rate of 15% on…
The Ministry of Finance is again considering imposing a tax on sweetened beverages eight years after failing to get other ministries’ backing for it. A “reasonable” special consumption tax on sugary drinks would help protect people’s health in line with the…
Experts say that taxing housing will help make the real estate market more transparent and prevent speculation, but it is necessary to digitize data, ensure fairness, and avoid overlapping taxes. The government plans to enact a new law on real estate taxation…
Vietnamese vendors have sold nearly 10 million products on Amazon this year, totaling an export value over 45% more than 2021, according to a report by the American e-commerce giant. During the pandemic, there were “thousands” of Vietnamese vendors on Amazon,…
The Finance Ministry said online platforms including Facebook and Google have paid VND5.59 trillion (US$231.6 million) in taxes from 2018 to August this year. In a report sent to the National Assembly, the ministry said the tax was paid by cross-border and…
Japan’s cryptocurrency industry is undergoing a wave of exits to friendlier markets due to the high corporate tax rate. At least 20 firms are choosing to establish their crypto business elsewhere and leave Japan, said Sota Watanabe, chief executive of digital…
Many individuals who have been earning thousands of dollars from Facebook, Google, YouTube, and other online platforms have been taxed in recent years, officials said. The HCMC Tax Department for instance said at a forum Friday that it collected over VND8…
Vietnam’s benchmark VN-Index rose 1.47 percent to 1,166.48 points Thursday but with plunging trade. The index closed nearly 17 points higher after losing almost 32 points on Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 27.9 percent to…
The Ministry of Finance has apprised the government of its plan to reduce special consumption tax and value-added tax on gasoline to bring its prices down. The plan was announced Thursday by a ministry official without disclosing further details. Currently…
Vietnam is failing to effectively tax e-commerce and online services as it struggles to make tech giants set up abroad fulfill their taxation duties. “Taxing e-commerce and digital platforms is a new and difficult challenge. There is huge loss of tax in this…
Cross-borders platforms like Facebook and Google have paid VND5.1 trillion ($220 million) in taxes for the period between 2018 and 2021, says Finance Minister Ho Duc Phoc. He informed lawmakers in a report that by April 2021, Facebook had been taxed VND1.97…
