MOF has vowed to collect tax from Google’s and Facebook’s earnings in Vietnam, and is drafting a regulation on tax management over e-commerce activities. The tax payments will be carried out under the withholding mode. SBV’s Governor Le Minh Hung said MOF has the legal right to issue regulations, guide tax declarations, and report and collect tax. Lawyer Truong Thanh Duc believes that MOF’s idea is a good solution allowing it to collect tax from Facebook and Google, which remains an impossible mission at this time. The revenue from ads that foreign companies, especially Facebook and YouTube, can collect is estimated to amount to 80 percent of total revenue.

Source: VietNamNet News April 09, 2018 07:07 UTC