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Update news tax evasion
Cross-border OTT television services are competing unfairly with Vietnamese firms, analysts say.
The General Department of Taxation has sent an official dispatch requesting Netflix to fulfill its tax declaration and payment obligations in accordance with Vietnamese tax law.
Cybercriminals and exposure of account information remain significant barriers for all stakeholders, with commercial banks now required to identify and collect holding information of customers to relevant authorities to fulfil tax obligations.
A person in HCM City has had to pay tax arrears and fines worth VND31 billion (US$1.3 million) for his earnings from Google without paying personal income tax.
The Ministry of Finance has proposed a regulation be brought in to ensure payments for all real estate transactions are carried out via bank...
Local tax authorities are closely monitoring activities and collecting cash flow data of cross-border platforms such as Facebook, Google, and YouTube, and strictly handling tax fraud.
Cross-border businesses providing services directly to individual users earn huge revenue from Vietnamese customers but they have not paid taxes to Vietnam.
The number of foreign-invested (FDI) firms doing business at a profit in 2020 accounted for only 40.2%, while 56% reported losses.
The Ministry of Industry and Trade has decided to extend the investigation into the evasion of trade remedies for sugar products originating from Thailand by two months.
Vietnam has taxed global tech companies like Google, Facebook and Microsoft an average of over 1 trillion VND (43.71 million USD) annually for their cross-border goods and services between 2018 and 2021
The COVID-19 pandemic has sparked a boom in e-commerce in Vietnam since consumers shift their spending habits towards online platforms. However, as online sales continue to grow, so does tax evasion.
On-spot exports are now not subject to duty exemption, possibly derailing the recovery of textile and footwear companies.
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.
The management of Facebook and other cross-border social networks need to have specialized rules to enable the fair development of all social networks.
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.
Territories are subject to different tax rates by Steam, but Vietnam is not included, although this platform has subsidized Vietnamese users since 2017.
While local export products have been facing more anti-dumping investigations and tax evasion cases in foreign countries, Vietnamese enterprises are still unaware of the risk.
The COVID-19 pandemic has become a golden opportunity for e-commerce trading floors, as well as social networks such as Facebook. However, the country has lost billions of dong in tax revenue due to e-commerce
The General Department of Taxation inspected 72 enterprises suspected of indulging in transfer pricing, collecting taxes and imposing fines of VND212 billion,
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.