Tech giants pay over $220 mln in Vietnam taxes
Cross-border platforms like Google, Facebook, and Microsoft paid VND5,111 billion (over $220 million) in taxes to Vietnam from 2018 to the end of this April, according to the country’s Ministry of Finance.
About $84.75 million or 38.4% of the total came from Facebook, while Google paid more than $82 million and Microsoft over $28 million.
Facebook is owned by Meta Platforms. Photo courtesy of Vietnam News Agency.
In addition, more than $31.7 million came from individuals and entities with income from e-commerce and cross-border digital services, according to the ministry.
As activities via cross-border platforms and e-commerce are growing rapidly, such taxation is becoming more challenging, the ministry said.
The web portal of the General Department of Taxation for Foreign Providers at etaxvn.gdt.gov.vn is already in place for foreign taxpayers to submit their tax declarations.
In a related development, Meta, the parent of Facebook, is due to charge a 5% value-added tax on all advertisements in Vietnam starting June 1.
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