Foreign tech giants like Facebook, Google, and YouTube will have to pay taxes in Vietnam under a draft circular, after years of invoicing their revenues out of the country.
Tax revenues from online advertising business models of foreign organisations that do not have legal entities in Vietnam like Google, YouTube or Facebook hit VND1.14 trillion ($49.5 million) last year.
The tax authority will coordinate with commercial banks to manage taxes with cash flow in and out of digital platforms such as YouTube, Google, Facebook, Amazon, and Netflix arising from transactions in Vietnam, including from individuals.
Despite urging by the Law on Cybersecurity, few international companies handling the data of local customers have set up data centres in Vietnam.
At the request of Vietnam, the game "Baby Panda’s World Travel" with the illegal "cow's tongue line" has been removed from the app store of the Android and iOS operating systems.
Vietnam’s digital economy is expected to reach 14 billion USD in 2020, a year-on-year increase of 16 percent, and will likely reach 52 billion USD in 2025, re-accelerating to nearly 29 percent in compound annual growth rate.
Vietnam’s internet economy has advanced by 39% annually since 2015 and is currently the second fastest-growing in Asia, with 68 million internet users in the country in 2020 and the figure is expected to reach 75.7 million by 2023,
The search engine's share giant dropped by nearly 4.8 percentage points in August 2020 year-on-year.
This is Google’s latest smartphone model, which was first introduced to the market in early August after multiple delays due to the COVID-19 pandemic.
Foreign organizations and individuals providing cross-border advertising services generating revenue in Vietnam must pay taxes and comply with Vietnam’s laws.
The executives of the four US tech giants defend their records at a five-hour hearing in Congress.
Hanoi is among the top picks of Vietnamese travelers.
Travelers in Vietnam are expressing interest in future domestic travel, because the COVID-19 pandemic has impacted the way people will approach travel-related decision-making, according to the latest study by Google.
The HCM City Department of Tourism has been working in collaboration with Google to arrange training courses on July 9 that provide digital and marketing skills for state management officials and businesses that operate in the tourism sector.
Dozens of thousands of local advertisers of Facebook and Google are on edge since the Law on Tax Administration has come into force on July 1.
Bkav has announced plans to produce the Bkav-C85 smart phone series to support 4G connectivity at a price of less than VND1 million (US$43) as the firm strives to reach the goal of universal 4G phones in the near future.