Foreign internet-based service providers pay Vietnam $253 mln in taxes in 8 months

Vietnam collected nearly VND6.2 trillion ($252.6 million) from foreign internet-based service providers via a local tax payment portal in the first eight months of 2024, up 24% year-on-year.

The figure was 25% higher than the estimate for this year, with tech giants such as Apple, Google, Meta (parent company of Facebook), Microsoft and Netflix being the largest taxpayers, according to the General Department of Taxation.

The department reported that a total of 106 overseas internet-based service suppliers have been issued tax codes in Vietnam since the portal was launched on March 21, 2022.

These include major tech corporations from the U.S., the Netherlands, South Korea, Singapore, Hong Kong, Ireland, Switzerland, the U.K. and Australia. The 106 suppliers have paid taxes amounting to VND16.8 trillion ($684.5 million) via the portal so far.

In 2023, the foreign service providers paid more than VND8 trillion ($318 million) in taxes. Of this, nearly VND6.9 trillion ($274.4 million) was declared and paid directly through the portal, while VND1.2 trillion ($47.7 million) was paid on behalf of Vietnamese parties.

The department said that it will continue to support foreign taxpayers to comply with tax laws in Vietnam. It called on all foreign suppliers providing cross-border services in Vietnam to register, declare and pay taxes via the portal.