Vietnam collects $161 mln in taxes from foreign suppliers of Internet-based services

Vietnam collected nearly VND4.04 trillion ($161 million) from foreign suppliers of Internet-based services via a local tax payment portal in the year to July 15.

According to the General Department of Taxation, a total of 103 overseas suppliers have been issued tax codes in Vietnam since the portal for overseas suppliers was launched on March 21, 2022. These include major tech corporations including Facebook, Google, Microsoft, TikTok, Netflix, and Apple.

Together, the 103 suppliers have paid taxes amounting to VND15.6 trillion ($621.5 million) via the portal so far.

In 2023, foreign suppliers paid more than VND8 trillion ($318 million) in taxes in Vietnam. Of the figure, 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 it will continue its inspections and ask foreign suppliers providing cross-border services in Vietnam to register, declare and pay taxes.

It also said it would continue to work with foreign suppliers to gather information and data about organizations and individuals doing business on digital platforms and social networks for tax management and inspection.