GDT said as of October 31, 38 foreign service providers had registered and declared tax on the information portal for foreign service providers, which was launched in March.
Meta, Google, Microsoft, TikTok, Netflix and Apple, which account for 90 percent of revenue from e-commerce services on cross-border digital platforms, have declared and paid tax in Vietnam, totaling tens of millions of dollars and euros.Tax revenue collected from cross-border platforms has increased thanks to the launch of the electronic information portal.
Tax revenue collected from cross-border and e-commerce platforms grew by 130 percent on average in 2018-2021, with VND1.2 trillion/year, and VND1.591 trillion in 2021, the highest ever.
Collecting tax from cross-border platforms has been a headache for Vietnamese agencies. Taxes collected are reportedly incommensurate with the actual revenue of foreign service providers.
According to the 2022 White Book on Vietnam’s e-commerce, the B2C market value is $16.4 billion in 2022 and is expected to reach $39 billion by 2025, the second largest in Southeast Asia.
Reports show that the number of Vietnamese users buying gods via foreign websites has increased from 36 percent to 43 percent in 2021.
During that time, the proportion of consumers who buy goods directly from foreign websites has also increased sharply from 49 percent to 56 percent, while the purchase rate of foreign sellers on Vietnam e-commerce platforms has increased from 41 percent to 57 percent, and the proportion of enterprises doing business on social networks such as Viber, WhatsApp, Skype, Facebook Messenger and Zalo has increased from 41 percent to 57 percent.
Trong Dat