Monday , December 11 2023

Vietnam collects $146M in taxes from online platforms such as Facebook, Google

Forty-two foreign suppliers, including Facebook, Google and TikTok, have paid VND3.44 trillion ($146.40 million) in taxes to Vietnam this year, according to the new portal of the General Department of Taxation.

The portal was established in March to make it easier for cross-border giants to pay their taxes in Vietnam, the department said in a report released Thursday.

Vietnam is forecast to collect VND1,460 trillion in taxes and fees this year, exceeding its earlier estimate by 24.3%. This is an 8.5% increase from 2021.

Sixteen out of 19 tax areas recorded growth for the year, such as state-owned companies (up 8.7% year-on-year), foreign direct investment (2.5%), and the private economy (1.4%).

Hanoi and Ho Chi Minh City each collected over VND300 trillion in taxes and fees for the year.

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