Tuesday , July 16 2024

Google, Facebook, other foreign giants pay $159M taxes online

Companies that engage in e-commerce and other digital businesses without having an establishment in Vietnam have paid taxes of VND4.04 trillion (US$158.9 million) online in 2024, up 18.5% year-on-year.

The number of foreign service providers, as they are called, who registered to pay taxes through the electronic portal increased by 26 from the end of 2023 to 102 in June, according to the Ministry of Finance.

They include Google, Meta (Facebook), Microsoft, Netflix, and Apple.

So far, around 383 international and domestic e-commerce platforms are registered on the electronic portal, up 22 from the end of 2023.

E-commerce activities are categorized into eight groups: e-commerce platforms, online trading websites or applications, social media platforms, transportation and delivery platforms, digital agency platforms, subscription services, advertisement services, and app store platforms.

According to the General Department of Taxation, tax payments from e-commerce activities amounted to VND97 trillion last year, up 14% from 2022.

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