A total of 39 foreign suppliers registered taxes in Vietnam via the portal https://etaxvn.gdt.gov.vn/nccnn/Requesreports the General Tax Office.
Among them are Meta (Facebook), Google, Microsoft, TikTok, Netflix and Apple which account for up to 90% of the cross-border e-commerce market share.
Other names on the list include iHerb, LLC; Netflix pte. Ltd; Tiktok Pte. Ltd; Blizzard Entertainment Inc; educational testing service; Ezviz International Limited; and LinkedIn Singapore Tte. e.g. Ltd.
###: Tax Accounting Services for Foreign Companies in Vietnam
About $22.2 million has been collected through the portal, which was developed exclusively for foreign suppliers and was launched on March 21, according to the State Treasury Department.
The tax authority will step up communication in the near future to further facilitate the registration, declaration and payment of taxes in Vietnam in line with the country’s commitments and regulations on value added and corporate tax for cross-border services, Vietnamese news agency reported.
From early 2018 to late August, the IRS collected trillions in taxes from organizations and individuals who earned revenue through online business.
In March, the Ministry launched an electronic portal and a mobile application (eTax Mobile) for foreign suppliers to file, register and pay tax.
To date, nearly 70,000 transactions have been made through the portal and app, collecting more than VND 308 billion in tax.
To control and prevent the loss of tax revenue in the digital platform business, the Ministry of Finance is working to finalize the relevant legislation.
The ministry filed amendments to Decree 126, issued in 2020, which stipulates that e-commerce platforms must provide information, declare and pay taxes on behalf of sellers.
The ministry also proposed amending a number of special arrangements to ensure a consistent legal basis for the management of e-commerce platforms, the ministry said. Local media.
