The taxation sector’s total state budget revenue in the first seven months of 2023 was estimated at 868.6 trillion VND (36.6 billion USD), equal to 63.3% of the estimate, and 94.5% compared with that of the same period last year, the General Department of Taxation released on August 4.
To date, 58 foreign suppliers have registered to declare and pay taxes through an electronic portal dedicated to them, which was put into operation on March 21, 2022.
Since the beginning of this year, they have declared and paid over 3.4 trillion VND worth of taxes via this portal.
There are 334 e-commerce platforms that send data to provide information to tax authorities, of which many have a large market share such as Shopee, Lazada, Sendo, Voso and Tiki.
Vietnam adapts to global minimum tax
The Vietnamese Government has been closely following the reality and consulting the experiences from other countries on the implementation of the global minimum tax to soon make appropriate policies, towards creating opportunities for foreign enterprises to operate smoothly and make greater contributions to Vietnam without affecting the interests of investors.
Global minimum tax application under consideration
The General Department of Taxation under the Ministry of Finance has said it will keep a close watch on the implementation of the global minimum tax in other countries, listen to opinions of firms impacted by the tax and study guidelines of the Organisation for Economic Cooperation and Development (OECD) to propose its application in Vietnam.