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Mr. Nguyen Manh Hung said that the Ministry of Information and Communications is cooperating with the State Bank and the Ministry of Finance to request that four tech giants pay taxes.
The above information was shared by the Minister of Information and Communication, Nguyen Manh Hung, when answering questions in the National Assembly this afternoon (November 6).
According to Nguyen Manh Hung, four big companies like Google, Amazon, Facebook and Apple generate billions of dollars in revenue, but have not paid taxes. Relevant legal regulations are dissuasive and not yet sanctioned based on income. Consequently, if a fine of 100 million VND (about 5,000 US dollars) to individuals, small businesses is a large amount, but for businesses tens of billions of dollars is too small an amount.
“Many countries have imposed sanctions on income with cross-border platforms. For example, 4% of income, then with Facebook the fine would be one billion dollars,” said the minister.
Information and Communications Minister Nguyen Manh Hung answered questions on November 6. Image: Press Center of the National Assembly.
The lesson here, according to Minister Hung, is that the process, behavior and violation of the law must be clear in legal activities, the sanction must be dissuasive and have automatic detection tools and fair management. turmeric. Then there is the strict application of whether it is foreign or national.
Not just the tech giants, but the tax collection of multinational companies is raised by other platforms as well. At the end of October, Mr. Vu Manh Cuong, Director of Inspection and Inspection (General Tax Department) said that he was using professional measures, coordinating with the Anti-Money Laundering Department for statistics of Netflix income coming from at serve in Vietnam in 2016 to collect taxes.
According to Mr. Cuong, the Cybersecurity Law was in effect, so foreign companies doing business with income in Vietnam from online activities must store data in Vietnam. At the same time, they are obliged to transfer this data to the tax authorities for the tax administration.
Minh Son
