According to the department, 130 foreign suppliers, including Google and Facebook, have registered, declared, and paid taxes through the electronic tax portal for foreign providers, contributing a total of 2.91 trillion VND (114 million USD).
Cumulative tax contributions from organisations and individuals engaged in e-commerce totalled 108 trillion VND (4.25 billion USD) in the first 11 months of this year, according to the General Department of Taxation.
The Indonesian government has announced a plan to boost the property market by covering the value-added tax (VAT) and the 4 million IDR (252 USD) administration fee for low-income home buyers.
Tax revenue in January was estimated at 165.7 trillion VND (7.06 billion USD), or 12.1% of the ordinance estimate, up 4.4% year-on-year, the General Department of Taxation reported on January 31.
As many as 30 big foreign suppliers, including Microsoft, Facebook, Netflix; Samsung; TikTok; and eBay made tax declaration via the portal http://Etaxvn.gdt.gov.vn and paid 22.2 million USD worth of tax, according to a report recently submitted by the Ministry of Finance to the National Assembly.
Tax revenues grew on a yearly basis but were falling month-by-month, according to Deputy Director of the General Department of Taxation (GDT) Dang Ngoc Minh.
Vietnam has taxed global tech companies like Google, Facebook and Microsoft an average of over 1 trillion VND (43.71 million USD) annually for their cross-border goods and services between 2018 and 2021, Minister of Finance Ho Duc Phoc told legislators on March 16.
The Finance Ministry of Indonesia has raised its tax revenue target for 2022 to 9.3 - 9.5 percent of GDP, banking on the implementation of new tax regulations and continued economic recovery.
The budget revenue increased significantly in the first five months of this year thanks to recovery from 2020 and some sectors seeing strong growth, such as banking, securities, real estate and automobile industries, according to the General Department of Taxation.
Nearly 246.449 trillion VND (over 10.7 billion USD) in taxes was collected for the State budget in the first two months of 2021, equivalent to 22.1 percent of the estimate, according to the General Department of Taxation.
Nearly 1.279 quadrillion VND (55.3 billion USD) in taxes was collected for the State budget in 2020, almost 24.35 trillion VND, or 1.9 percent, higher than the annual target and 175.85 trillion VND more than the estimate reported to the National Assembly (NA).
The Indonesian government has expanded the budget deficit to 2.2 percent of the gross domestic products (GDP) followed the potential short fall on tax revenues around 200 trillion Rp (14.29 billion USD).
Indonesia’s Finance Ministry has announced that the country’s state budget deficit increased to 281.9 trillion Rp (20.1 billion USD) or 1.8 percent of the gross domestic product (GDP) in October 2019, higher than the same period year earlier of 229.7 trillion Rp or 1.56 percent of GDP.
Hanoi collected over 93.9 trillion VND (4.1 billion USD) in taxes during the first half of this year, completing 50.1 percent of its annual target and 18 percent higher compared with the same period in 2016.
Tax authorities anticipate collecting at least 680 billion VND (30.4 billion USD) in the remaining ten months of 2016, a 19 percent increase over the same period last year.
