Foreign “giants” such as Facebook and Google paid more than 11 trillion VND
Vietnam Stocks – Facebook (NASDAQ: ), Google (NASDAQ: ) and foreign “giants” paid more than 11 trillion VND in taxes
As of October 2023, 74 foreign suppliers such as Google, Facebook, and Netflix have directly paid more than 8 trillion VND in taxes, more than double the amount at the end of 2022.
Information from the General Administration of Taxation shows that the number of foreign companies filing taxes through the electronic portal has increased by 17 compared with the end of June. The tax amount of foreign suppliers includes Google, Facebook, Netflix… From the beginning of the year to October 30, 8.02 trillion VND was paid. Last year, they paid nearly VND3.48 trillion through the electronic portal.
Therefore, since the operation of the electronic information portal for foreign suppliers in March 2022, these enterprises have paid nearly VND 11.5 trillion in taxes.
The tax industry stated that it will continue to review and supervise overseas suppliers that have not yet completed tax registration, and coordinate with other units to upgrade their electronic information portals.
According to the State Administration of Taxation, as of October 18, a total of 375 e-commerce trading floors provided information about organizations and individuals conducting business through this channel. The tax industry also received and processed more than 5.6 billion electronic invoices, of which more than 71% were uncoded invoices.
In the first 10 months of this year, the cumulative state budget revenue managed by the tax industry fell by nearly 7% compared to the same period, to slightly more than 12 billion VND. Domestic revenue still accounts for the highest proportion, accounting for nearly 96% of the total budgeted revenue for the 10 months, estimated at VND 1.15 million. Crude oil revenue is approximately VND51,366 billion, and taxes and fees are expected to be VND916,247 billion, approximately 86% of the estimate.