Meta, Tiktok pay hundreds of billions dong of taxes in Vietnam

VCN – Thirty-six foreign suppliers have registered, declared and paid taxes via the e-portal for foreign suppliers after more than six months of launching the e-portal.
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Meta, Tiktok pay hundreds of billions dong of taxes in Vietnam
Thirty-six foreign suppliers register, declare and pay taxes.

The General Department of Taxation said Vietnam is one of the four leading countries in the ASEAN region to apply online tax collection to foreign suppliers, affirming the right to collect a tax of Vietnam for e-commerce and digital-based business activities.

The General Department of Taxation statistics shows that, after more than six months of launching the e-Portal for foreign suppliers since March 21, 2022, 36 foreign suppliers have registered, declared, and paid taxes via the e-portal.

Six major foreign suppliers (Meta (Facebook), Google, Microsoft, TikTok, Netflix, Apple) accounting for 90% of revenue from e-commerce business services and digital-based business in Vietnam have paid taxes worth tens of millions of USD, EUR, equivalent to, equivalent to hundreds of billions dong. Meta alone has paid 16.8 million Euros, and Tiktok has paid 81.7 billion VND.

After six months after launching the e-portal, it shows the coordination and compliance with tax laws when doing business in Vietnam with foreign suppliers. Major foreign suppliers (Meta (Facebook), Google, Microsoft, TikTok, Netflix, Apple) have actively collaborated with tax authorities to grasp tax policies and give suggestions to the tax authority to improve tax policy and tax management tools, contributing to enhancing the management efficiency of tax authorities.

This also shows that Vietnam's tax policy and management are consistent with international practices, ensuring fairness and transparency for organizations and businesses worldwide when doing business in Vietnam.

By Thuy Linh/ Ngoc Loan

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