tax evasion

Update news tax evasion

The Ministry of Finance has proposed a regulation be brought in to ensure payments for all real estate transactions are carried out via bank...

Vietnam to strictly handle tax 'dodging' of cross-border platforms

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.

Taxing cross-border platforms: Vietnam tries to fight losses

Cross-border businesses providing services directly to individual users earn huge revenue from Vietnamese customers but they have not paid taxes to Vietnam.

FDI companies report losses: signs of transfer pricing, tax evasion

The number of foreign-invested (FDI) firms doing business at a profit in 2020 accounted for only 40.2%, while 56% reported losses.

Ministry extends probe into Thai sugar’s evasion of trade remedies by two months

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 taxes tech giants US$43.7 mln annually

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

Increasing tax evasion in e-commerce

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.

Tax tweak puts strain on apparel makers

On-spot exports are now not subject to duty exemption, possibly derailing the recovery of textile and footwear companies.

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.

Rules needed to manage Facebook in Vietnam

The management of Facebook and other cross-border social networks need to have specialized rules to enable the fair development of all social networks.

Tax administration of personal transactions with YouTube, Facebook, Google, Amazon to be tightened

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.

Steam, Netflix do business in Vietnam without paying taxes

Territories are subject to different tax rates by Steam, but Vietnam is not included, although this platform has subsidized Vietnamese users since 2017.

Local firms still not aware of anti-dumping investigations

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.

Taxes lost from e-commerce sector during COVID-19

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

Tax inspectors detect 72 enterprises with suspected transfer pricing

The General Department of Taxation inspected 72 enterprises suspected of indulging in transfer pricing, collecting taxes and imposing fines of VND212 billion, 

Bank accounts of local advertisers to be drained for Facebook and Google tax arrears

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.

Transfer pricing among FDI firms in Vietnam at alarming rate: State Audit

While FDI firms continue to report losses, they keep expanding operations in the country.

Vietnam faces increasing tax evasion and avoidance

Vietnam faces increasing tax evasion and avoidance as policies have not kept up with reality, according to a report by the Vietnam Institute for Economic and Policy Research (VEPR) and Oxfam.

Vietnam to talk with the US on Minh Phu tax evasion case

The Ministry of Industry and Trade (MoIT) has said it will talk with the US on the case of local Minh Phu seafood firm, which was accused of tax evasion in the US.

 

Minh Phu Seafood shares fall on investigation of tax evasion

Minh Phu Seafood Corp shares fell for a second day after the company confirmed it would co-operate with the US investigation into whether the Vietnamese firm had evaded anti-dumping taxes or not.