Hanoian girl pays over VND23 billion in income taxes on app development

A 28-year-old girl from Hanoi last year paid VND23.4 billion (over US$1 million) in income taxes from her app development job, according to the Hanoi Tax Department.

Mai Son, head of the department, said that the resident of Hanoi’s Cau Giay District earned VND330 billion last year from writing software published on the Google Play and App Store.

In the same year, another young Hanoian had paid over VND18 billion in taxes on her app development income worth VND260 billion.

Aside from these two cases, the municipal Tax Department collected more than VND7 billion worth of income taxes from an individual who was running online businesses on the YouTube and Google platforms.

Overall, the city’s taxman in 2020 collected VND123 billion in income taxes from ecommerce activities on popular online platforms including Google, Facebook and YouTube, up fivefold compared to the 2019 figure. Most of the ecommerce taxpayers were individuals, Son said.

 

This year, the Tax Department will continue to review, analyze inspection data and examine a number of organizations and individuals that run ecommerce businesses in the capital city. The department, in coordination with commercial banks and trading platforms will collect data and instruct ecommerce operators to fulfil their tax obligations.

The department will also inspect and tackle those who make slow tax payments or intentionally fail to register, declare and pay taxes on their ecommerce businesses. SGT

End of the game nigh for online tax dodgers

End of the game nigh for online tax dodgers

The age of unfettered freedom for online business and vendors is coming to a close as Vietnamese authorities are building policies to better trace these activities and collect the state’s due.

Tax evasion questions raised as 55% of FDI enterprises report losses

Tax evasion questions raised as 55% of FDI enterprises report losses

Numerous FDI enterprises have reported losses over the course of several years, despite continuing to expand production and business activities, along with an annual increase in revenue, thereby causing losses and damage to the state budget.

 
 

Other News

.
Seafood industry expects to remain on growth path in 2021
Seafood industry expects to remain on growth path in 2021
BUSINESSicon  15/02/2021 

Despite facing difficulties due to the COVID-19 pandemic, seafood exports last year were estimated at US$8.58 billion, the same as in 2019.

Rice exports enjoy opportunities for breakthrough in 2021
Rice exports enjoy opportunities for breakthrough in 2021
BUSINESSicon  15/02/2021 

High hopes are pinned on Vietnam’s rice exports in 2021 when major export markets such as the Philippines and Africa continue to sign contracts to buy rice from Vietnam, 

Opportunities forecast for Vietnam’s economy in 2021: experts
Opportunities forecast for Vietnam’s economy in 2021: experts
BUSINESSicon  15/02/2021 

Apart from challenges, many opportunities will be offered to the Vietnamese economy in 2021, experts have said.

Born in the Year of the Buffalo
Born in the Year of the Buffalo
BUSINESSicon  15/02/2021 

'Buffalo' represents hard work, persistence and stability in the Vietnamese people's conception, and these characteristics are considered to apply to people born in the Year of the Buffalo [according to eastern zodiac].

Modern trade channels, e-commerce to further thrive: experts
Modern trade channels, e-commerce to further thrive: experts
BUSINESSicon  15/02/2021 

Modern and online shopping channels recorded strong growth last year and will continue to thrive this year, according to experts.

What to invest in this year?
What to invest in this year?
BUSINESSicon  14/02/2021 

With uncertainties caused by COVID-19 persisting, gold, stock, and real estate are still promising investments for Vietnamese investors in 2021.

Door opens to growing level of FDI
Door opens to growing level of FDI
BUSINESSicon  14/02/2021 

Vietnam’s effective control over the COVID-19 pandemic along with it signing a host of new free trade agreements has resulted in many global tech giants shifting their investment to the country.

Quang Ninh looks to become a strong marine-based economic hub
Quang Ninh looks to become a strong marine-based economic hub
BUSINESSicon  13/02/2021 

The northern province of Quang Ninh has outlined key measures to develop its marine-based and coastal economy, with a focus on eco-friendly tourism, maritime services, and coastal industry.

Vietnam automobile industry on recovery path despite Covid-19
Vietnam automobile industry on recovery path despite Covid-19
BUSINESSicon  13/02/2021 

Vietnam’s rising income per capita would soon move cars from a luxury product with a passenger vehicle density of 34 per 1,000 to a more ordinary one with a density level comparable to countries in the region.

Real estate appeal remains amid tumult
Real estate appeal remains amid tumult
BUSINESSicon  13/02/2021 

Vietnam has more real estate investment opportunities than other more mature Asia-Pacific markets, though certain difficulties remain.

VIETNAM BUSINESS NEWS FEBRUARY 15
VIETNAM BUSINESS NEWS FEBRUARY 15
BUSINESSicon  15/02/2021 

VIETNAM BUSINESS NEWS

Vietnamese enterprises build resilience amid pandemic
Vietnamese enterprises build resilience amid pandemic
BUSINESSicon  14/02/2021 

Vietnam’s economy has undergone a lot of changes during one year since the first case of COVID-19 was detected in the country in January, 2020, 

VIETNAM BUSINESS NEWS FEBRUARY 13
VIETNAM BUSINESS NEWS FEBRUARY 13
BUSINESSicon  13/02/2021 

 Vietnam receives foreign cargo ships on first day of Lunar New Year

2021 bodes well for mechanical engineering
2021 bodes well for mechanical engineering
BUSINESSicon  14/02/2021 

After suffering a significant fall in revenue last year, the mechanical engineering industry has high hopes for recovery in 2021, given Vietnam’s good COVID-19 control and participation in free trade agreements.

Vietnam continues to move forward in 2021
Vietnam continues to move forward in 2021
BUSINESSicon  14/02/2021 

Dr Tran Thi Hong Minh, Director of the Central Institute for Economic Management, talks about Vietnam’s potential for economic development in 2021.

Domestic coffee exporters expect a promising year
Domestic coffee exporters expect a promising year
BUSINESSicon  13/02/2021 

Vietnam’s coffee exports are expected to have a good start to 2021 after a gloomy year due to the severe impacts from the COVID-19 pandemic, according to industry insiders.

2021 GDP to grow 6.72 pct. in optimistic scenario: NCIF
2021 GDP to grow 6.72 pct. in optimistic scenario: NCIF
BUSINESSicon  12/02/2021 

The National Centre for Socio-Economic Information and Forecasting (NCIF) has released a forecast on Vietnam’s economic performance in 2021, with GDP growth of 6.72 percent and CPI of 4.2 percent under an optimistic scenario.

Silver lining found in investment channel risk this year
Silver lining found in investment channel risk this year
BUSINESSicon  12/02/2021 

Investors are pinning their hopes on different investment channels this year despite the many difficulties and risks brought about by COVID-19, analysts have said.

Construction firms urged to apply technology to improve efficiency
Construction firms urged to apply technology to improve efficiency
BUSINESSicon  11/02/2021 

The impacts of the COVID-19 pandemic and Industry 4.0 required construction firms to invest in technology to improve efficiency.

Vietnam promotes export of processed agro-forestry-fisheries products
Vietnam promotes export of processed agro-forestry-fisheries products
BUSINESSicon  11/02/2021 

The project aims at improving the quality and value of agro-exports to meet the regulations of importers.

 
 
 
Leave your comment on an article

OR QUICK LOGIN