Update news tax payment
This is the amount of contractor tax paid by the platforms.
Google has paid VND2.115 trillion (nearly US$87.4 billion) in tax to Vietnam from 2018 to August 2022, representing the biggest tax contributor among cross-border and e-commerce platforms operating in the country.
Since the portal for tax payment of cross border activities was launched on March 21 this year, 36 foreign service providers have registered, declared and paid taxes through it, heard a webinar held by the Government Portal on September 29.
Since the issuance of Circular 80, large cross-border service providers such as Google, Facebook and Netflix have expressed their support and have said they are willing to pay taxes.
Under the new regulation, by the end of the third quarter, enterprises have to estimate the amounts of tax of the fourth quarter and pay the amounts.
The Ministry of Finance has proposed the payment deadlines for $3.4 billion in taxes be extended to support enterprises, business households and individuals doing business that are directly affected by COVID-19 pandemic.
Ministries of Finance, Industry and Trade have announced the number of administrative procedures they expect to remove or simplify this year as part of their efforts in realising the Government’s Resolution 19 about improving the business climate.
VietNamNet Bridge – The General Department of Taxation will cut the tax payment time in Vietnam to the ASEAN average of 171 hours by the end of this year as ordered by the Government.
VietNamNet Bridge - In 2014, on average, each Vietnamese firm spends 872 hours paying taxes and the tax costs account for 40.8% of profits, according to the World Bank’s (WB) annual report on the global business environment.