The department of taxation of large enterprises under the General Department of Taxation (GDT) has recently announced that four foreign suppliers conducting business in Vietnam through e-commerce digital platforms have not yet complied with regulations on tax registration through the GDT’s e-portal.
A total of 120 foreign suppliers have registered, declared, and paid taxes worth more than 8.68 trillion VND (341 million USD) through the General Department of Taxation (GDT)’s e-portal this year, up by 26% year-on-year and 74% compared to the annual target.
The General Department of Taxation on November 7 reported that the total state budget collection of the sector in January – October was estimated at over 1.4 quadrillion VND (55.18 billion USD), or 94.8% of the annual projection and up 16.3% against the same time last year.
Foreign suppliers, such as Google, Apple, Meta (Facebook), Microsoft, Netflix and TikTok, paid 3.94 trillion VND (169 million USD) in taxes in the first half of 2023, according to the General Department of Taxation (GDT).
Foreign suppliers have paid more than 7.36 trillion VND (312.8 million USD) worth of taxes through an electronic portal dedicated to them from March 21, 2022, according to the General Department of Taxation (GDT).
A total of 39 foreign suppliers have registered tax in Vietnam via the portal //etaxvn.gdt.gov.vn/nccnn/Reques, according to the Tax Agency for Large Businesses at the General Department of Taxation.
Many major foreign online service providers such as Facebook, Microsoft, TikTok, and Netflix have directly registered, declared and/or paid taxes online into the Vietnamese budget.
Vietnam’s tra fish processors and exporters should take prompt action now to meet the new rules issued by the US Department of Agriculture requiring domestic foreign suppliers to meet the standards.
