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Facebook parent Meta will charge a 5 percent value added tax on all Vietnamese advertisements starting June 1 after assuring the government it will fulfill its tax obligations. Meta executives last week told Prime Minister Pham Minh Chinh that the company…
The tax department has set up a website for collecting tax from foreign companies to make it easier for tech giants like Facebook and Google to fulfill their duties. The Portal of the General Department of Taxation for Foreign Providers (etaxvn.gdt.gov.vn)…
Vinamilk is set to see profits decline for a second straight year in 2022 due to rising costs of raw materials and transportation. Vietnam’s leading dairy company targets pre-tax profits of VND12 trillion ($524.70 million), down 7 percent from last year,…
Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures and adopt a new reporting standard, the Financial Times said on Sunday. Asset managers Nordea, Royal London, and several large European and U.S. pension funds…
Hong Kong will offer tax breaks, handouts, and subsidies to small businesses and residents, to mitigate the impact of a new wave of social restrictions to curb Covid-19 infections, Finance Secretary Paul Chan said in his 2022-23 budget speech. The measures…
Any special concessions and tax breaks for the world’s most valuable carmaker and electric car pioneer Tesla have been ruled out by the Indian government. In a report by ETAuto, it has been revealed that the government’s plans for local manufacturing have…
A draft government decree reduces value-added tax on many products and services from the current 10 percent to 8 percent from Feb. 1. The decree on tax reduction to foster economic recovery approved by the National Assembly will also make expenses on pandemic…
Sundar Pichai and Mark Zuckerberg, the CEOs of Google and Facebook respectively, allegedly signed off a secret and illegal ad deal according to BuzzFeed. As a result, Facebook was given “information, speed, and other advantages” during auctions for ad space…
Apple is bumping up prices in the App Store in some regions, the company announced on Wednesday. Citing taxes and foreign exchange rate changes, Apple says that apps will become more expensive in the following regions: Bahrain: Increase of value-added tax…
Toyota urged Washington on Tuesday not to “play politics” with environmental issues by offering tax credits for US-made electric vehicles, joining a chorus of foreign opposition to the issue. President Joe Biden’s focus on helping blue-collar American workers…
The Ministry of Finance is considering limiting the import of low-value packages through e-commerce platforms to close a suspected loophole. It wants to issue a new decree to limit each organization or individual buyer to be free of import tax on four orders…
India is considering slashing import duties on electric cars to as low as 40%, two senior government officials told Reuters, days after Tesla Inc’s appeals for a cut polarised the country’s auto industry. For imported electric vehicles (EVs) with a value of…
Vietnam is set to delay an online tax on e-commerce vendors by five months to support economic recovery amid severe Covid-19 impacts. The Ministry of Finance has proposed to the government that the implementation of Circular 40 be postponed until January 1,…
Vietnam plans to tax 1.5 percent of annual e-commerce revenues of VND100 million ($4,297) and higher as part of leveling the field between traditional and online retail merchants. A decree with new regulations is set to take effect on August 1, but…
Ride-hailing company Gojek has raised fares by 8.3-10 percent following the recent revamp of the value-added tax regime, which requires it to pay more. The hike applies to all three services it offers in Vietnam, motorbike taxi, food delivery and goods…
Vietnam has imposed a 10-percent value-added tax for each trip by a ride-hailing company vehicle as it seeks to create a level playing field for traditional taxi firms. According to a new decree, with effect from December 5, the tax will have to be paid on…
