Vietnam’s digital marketplace is paying off, with VND8.73 trillion (about US$328 million) collected from foreign suppliers through the official portal as of September 30, according to the E-Commerce Taxation Sub-Department under the Department of Taxation (GDT).

A total of 120 foreign suppliers have registered, declared, and paid taxes worth more than VND8.68 trillion (US$341 million) through the General Department of Taxation (GDT)’s e-portal this year, up by 26% year-on-year and 74% compared to the annual target.

Foreign service providers paid more than VND9 trillion (US$367.15 million) in tax through the online portal serving taxpayers engaging in e-commerce and business activities in the first nine months of this year, according to the General Department of Taxation.

Foreign suppliers, such as Google, Apple, Meta (Facebook), Microsoft, Netflix and TikTok, paid VND3.94 trillion (US$169 million) in taxes in the first half of 2023, according to the General Department of Taxation (GDT).

Foreign suppliers have paid taxes worth VND1.8 trillion (US$76.7 million) via the official portal serving their operations in Vietnam.

The Ministry of Finance (MoF) has introduced many favourable policies on tax, fees and land rent to ease the financial burdens on individuals and firms, boosting economic recovery, according to Deputy Minister of Finance Cao Anh Tuan.