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Foreign big corps pay tax of nearly VND 4,000 billion to Vietnam

The above information is mentioned in the General Department of Taxation report. Accordingly, these 57 enterprises have all registered, declared and paid taxes through the electronic portal for foreign suppliers, which has been operating since March last year.

Specifically, these suppliers paid tax in the first half of the year more than 3,940 billion VND, including about 3,400 billion VND declared and paid directly through the portal and 540 billion VND deducted and paid on behalf of the Vietnamese parties. Last year, these foreign suppliers paid nearly 3,500 billion VND in tax, including 1,850 billion VND declared and paid directly through the portal and nearly 1,630 billion VND deducted and paid by Vietnamese parties.

In addition, the tax industry said that the tax revenue from e-commerce in the first 5 months of this year reached 246 billion dongs, equal to 34% of the revenue of the whole year last year. This tax revenue in 2022 and 2021 is VND 716 billion and VND 261 billion, respectively.

The tax authority has recorded data from 333 e-commerce platforms through the e-commerce portal operating since the end of last year. In the first quarter of this year, 64,300 individuals and 22,840 organizations were trading on the floor with 9 billion transactions and a total value of 11,500 billion dongs.

The General Department of Taxation said that it is developing a regulation on exploiting information from e-commerce platforms' databases to manage taxes more effectively.

This agency checks and compares information for many taxpayers who are e-commerce platform owners, payment intermediaries, foreign partner companies in Vietnam and a number of foreign suppliers who do not have a fixed business establishment in Vietnam.

Up to now, the General Department of Taxation has inspected 15 enterprises and handled, fined and arrears taxes and fees of VND 129 billion, reducing loss of VND 986 billion, reducing value-added tax deduction of VND 114 billion.

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