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 four technology giants to pay taxes.
The above information was shared by Information & Communication Minister Nguyen Manh Hung when answering questions at the National Assembly this afternoon (November 6).
According to Nguyen Manh Hung, four big companies such as Google, Amazon, Facebook and Apple generate billions of dollars in revenue, but have not paid taxes. Relevant legal regulations are deterrent and not yet sanctioned based on revenue. Accordingly, if a fine of 100 million VND (about 5,000 USD) to individuals, small businesses is a large amount, but for businesses tens of billion USD, it is too small amount.
“Many countries have imposed sanctions on revenue with cross-border platforms. For example, 4% of revenue, then with Facebook the fine would be $ 1 billion,” the minister said.
The lesson here, according to Minister Hung, is that the process, behavior, and violation of the law must be clear in legal activities, the penalty must be deterrent and have automatic detection tools and fair management. turmeric. Then there is the strict enforcement of whether it is foreign or domestic.
Not only the tech giants, the problem of taxing multinational businesses is also posed by other platforms. At the end of October, Mr. Vu Manh Cuong, Director of Inspection and Inspection (General Department of Taxation) said that he was using professional measures, coordinating with the Department of Anti-Money Laundering to statistics Netflix revenue arising from when providing services in Vietnam in 2016 to collect tax.
According to Mr. Cuong, the Law on Cyber Security was in effect, so foreign enterprises doing business with income in Vietnam from online activities must store data in Vietnam. At the same time, they are obliged to transfer these data to the tax authorities for tax administration.