Currently, there are 39 foreign suppliers who have registered and declared tax in Vietnam. This list of suppliers is publicly posted by the General Department of Taxation.
The Large Corporate Tax Department said that the announcement of the list of foreign tax-registered suppliers in Vietnam is based on the provisions of Tax Administration Law No. 38 and Decree 126 of the Government detail a number of articles of the Law on Tax Administration and guiding circulars.
Tax authorities publicize the list of platforms that have filed their tax returns. Illustration: Internet
Foreign suppliers are organizations and enterprises that do business in e-commerce, digital-based business and other services with Vietnamese organizations and individuals but do not have a permanent location in Vietnam.
Accordingly, in the list of the General Department of Taxation, there are currently 39 foreign suppliers who register for tax through the online portal. Cross-border technology businesses and platforms such as Meta, Google, Microsoft, TikTok, Netflix, Apple, Spotify, LinkedIn, ebay, Klook… have all made tax declarations.
According to information from the General Department of Taxation, among foreign suppliers, there are 6 major suppliers, namely Meta, Google, Microsoft, TikTok, Netfix, and Apple, which account for 90% of the market share in revenue of e-commerce business services on cross-border digital platforms in Vietnam.
The total amount of tax paid is tens of millions of USD, equivalent to 1,800 billion EUR. Tax revenue from cross-border platforms continues to increase, since the tax authorities allowed foreign suppliers to register, declare and pay taxes on the portal since March.