Vietnam collects taxes from Microsoft, TikTok, Netflix
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.
Hanoi (VNS/VNA) - Many major foreignonline service providers such as Facebook, Microsoft, TikTok, and Netflix havedirectly registered, declared and/or paid taxes online into the Vietnamesebudget.
The General Department of Taxation reported thatthe tax revenue from cross-border goods and services through organisations in Vietnamdeclaring and paying on behalf of contractors reached 5.4 trillion VND (nearly 235million USD) from 2018 until June 29.
The average revenue is about 1.2 trillion VNDper year, with the average revenue growth rate at 130%.
Since the portal's opening for foreign supplierson March 21, many large foreign suppliers have registered to pay corporateincome tax and value-added tax directly through the portal.
Up to now, 23 foreign suppliers have registered,declared and paid taxes to the Vietnamese state budget, the total amount of taxpaid is about 2.4 million USD.
For example, with Facebook (Meta), TikTok, andNetflix, the tax amount declared and paid directly on the portal in the firstquarter of this year is as follows: Microsoft paid 0.5 million USD, TikTok 34.5billion VND, Netflix 7.8 billion VND. Facebook will pay tax on all revenue(from organisations and individuals) in the second quarter of the year.
Ho Chi Minh City’s Department of Tax said thatwith these measures, the tax authorities initially obtained solid results inthe fight against budget revenue loss.
Specifically, four commercial banks provided taxauthorities with organisations and individuals with income from Google, with atotal amount of money received from abroad of more than 52.13 million USD inthe first six months of this year.
Tax authorities have handled 38 individuals withincome from Google, with arrears, fines and late payment interest of 169billion VND and three enterprises with arrears tax, fines and late paymentinterest of 327 million VND.
Some tax departments have significant revenues,such as the Hanoi Department of Tax with about 358 billion VND, the HCM City Departmentof Tax with about 146 billion VND, and the Da Nang Department of Tax with about67 billion VND./.
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Illustrative image. (Photo: VNA) 
