Vietnam taxes tech giants US$43.7 mln annually
Vietnam has taxed global tech companies like Google, Facebook and Microsoft an average of over VND1 trillion (US$43.71 million) annually for their cross-border goods and services between 2018 and 2021, Minister of Finance Ho Duc Phoc told legislators on March 16.
These giants had paid total of more than VND4.4 trillion in taxes during the four-year period, said Phoc at the ninth sitting of the National Assembly’s Standing Committee. Facebook was taxed over VND1.69 trillion, Google nearly VND1.62 trillion, and Microsoft some VND576.6 billion, he noted.
In 2020, Vietnam earned roughly VND1.14 trillion from taxing cross-border digital services on the platforms. The tax revenue rose by 15.2% to reached approximately VND1.32 trillion last year.
The minister further said that the General Department of Customs has been tasked to develop a portal for tax declaration for cross-border platforms and social media. Foreign taxpayers can access the portal, which will be made available from March 21, to submit their tax declarations.
In the coming time, taxpayers will also be able to fulfill their tax obligations via mobile apps instead of visiting tax authority offices.