According to the Department of Taxation, 259 overseas suppliers have registered, declared and paid taxes through the portal.

Tax revenue from the group reached 78.1% of the full-year target, surging 119% from a year earlier and making foreign suppliers the fastest-growing source of tax revenue in Vietnam's digital economy.

The increase far outpaced the broader e-commerce sector, where tax revenue rose 44.2% to nearly 167.9 trillion VND during the same period.

The growth also highlights the rapid expansion of Vietnam's digital tax system. Only 176 foreign suppliers had registered through the portal by September 30 last year, contributing 8.73 trillion VND over the first nine months of that year.

Within less than a year, the number of registered suppliers increased by 83, while tax revenue collected in just six months surpassed the previous nine-month total.

Vietnam launched its foreign supplier portal in March 2022, allowing overseas companies without a permanent establishment in the country to register, declare and pay taxes directly instead of relying on local intermediaries.

The list of registered foreign suppliers includes major global technology companies such as Google, Meta, Microsoft, TikTok, Netflix and Apple.

According to the tax authority, these six companies account for around 90% of Vietnam's cross-border digital services revenue, making them the primary contributors to tax collections through the portal.

Cross-border e-commerce platforms including Temu, Shein and 1688 are also required to register and pay taxes under the same framework. Their business models, based on millions of low-value transactions, require closer data verification by tax authorities.

Authorities compare self-declared revenue with information from banks, payment intermediaries and logistics providers before conducting audits where discrepancies or signs of tax evasion are identified./. VNA