Tag: Tax

Retail Asia26/02/2024
dollar-kyat-tax-inflation-investment1-1024x712.jpg
2min0
The U.S.’s Internal Revenue Service estimates that the country’s millionaires and billionaires are evading over US$150 billion in taxes annually. Audits of taxpayers earning over $1 million a year have declined by more than 80% over the last decade despite a 50% rise in the number of taxpayers with this income, according to IRS statistics last […]

Retail Asia04/12/2023
pepsi-1280x853.jpg
2min0
PepsiCo has been ordered by the Federal Court to pay royalty withholding tax and, in the alternative, diverted products tax (DPT), which would apply. The first time it has been considered in court, DPT is a new tool to ensure large global businesses operating in the country are paying the correct amount of tax by […]

Retail Asia06/11/2023
Google-App.jpeg
1min0
Seven four cross-border digital platforms, including Meta, Google, Netflix, and TikTok, have paid taxes of VND8.02 trillion (US$334.1 million) this year, more than double the amount last year. The General Department of Taxation said as of June some 57 had paid taxes, and urged others who had yet to declare and pay taxes to do […]

Retail Asia11/10/2023
Facebook-Meta-Zuckerberg-1280x768.jpg
1min0
Sixty-seven cross-border digital platforms, including Meta, Google, TikTok, and Microsoft have paid taxes of VND5.8 trillion (US$241.7 million) so far this year compared with VND3.5 trillion for 2022. The General Department of Taxation said it would urge other foreign service providers who have yet to declare and pay taxes to do so, and upgrade its […]

Retail Asia26/07/2023
Epic-Games--1280x720.jpg
2min0
The government has rejected a proposal by the Ministry of Finance to slap a special consumption tax on online games and sought more scientific data to tax sugary drinks. But in a recent decision, it instructed its agencies to use other legal means to limit playing time. Earlier this year the ministry had suggested imposing […]

Retail Asia24/07/2023
Vietnam-Ecommerce-1024x683.jpg
3min0
Vietnam collected VND3.94 trillion (US$166.5 million) in taxes from 57 foreign online platforms including Google, Apple, Facebook, Netflix, and TikTok in the first half of this year. Of the sum, VND3.4 trillion was paid directly via the portal of the General Department of Taxation (GDT), which was established last March to make it easier for […]

Retail Asia20/04/2023
dollar-kyat-tax-inflation-investment-1024x712.jpg
6min0
The proposed global minimum tax would weaken the international business environment in Vietnam by eliminating preferential tax policies for foreign direct investment (FDI), said Samsung Vietnam CEO Choi Joo Ho. The global minimum corporate tax rate of 15% on profits would remove exemptions and reductions that much of Vietnam’s FDI relies on, Ho told a […]

Retail Asia24/02/2023
coca-cola-1280x801.jpg
4min0
The Ministry of Finance is again considering imposing a tax on sweetened beverages eight years after failing to get other ministries’ backing for it. A “reasonable” special consumption tax on sugary drinks would help protect people’s health in line with the World Health Organization’s recommendation and international practice, it said. Consumption of sweetened beverages in […]

Retail Asia08/02/2023
vietnam-condotel.jpg
7min0
Experts say that taxing housing will help make the real estate market more transparent and prevent speculation, but it is necessary to digitize data, ensure fairness, and avoid overlapping taxes. The government plans to enact a new law on real estate taxation in place of the Law on Agricultural Land Use and the Law on […]

Retail Asia30/12/2022
Amazon-India-1024x683.jpeg
2min0
Vietnamese vendors have sold nearly 10 million products on Amazon this year, totaling an export value over 45% more than 2021, according to a report by the American e-commerce giant. During the pandemic, there were “thousands” of Vietnamese vendors on Amazon, and their top-selling products were in the categories of kitchen ware, home appliances, garment […]

Retail Asia12/08/2022
3min0
Japan’s cryptocurrency industry is undergoing a wave of exits to friendlier markets due to the high corporate tax rate. At least 20 firms are choosing to establish their crypto business elsewhere and leave Japan, said Sota Watanabe, chief executive of digital infrastructure developer Stake Technologies, in an interview with Bloomberg. Crypto firms have been exiting Japan in […]

Retail Asia08/07/2022
Forex-1024x682.jpg
2min0
Vietnam’s benchmark VN-Index rose 1.47 percent to 1,166.48 points Thursday but with plunging trade. The index closed nearly 17 points higher after losing almost 32 points on Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 27.9 percent to VND9.06 trillion ($388 million). The VN-30 basket, comprising the 30 largest capped stocks, […]

Retail Asia01/07/2022
fuel.jpg
2min0
The Ministry of Finance has apprised the government of its plan to reduce special consumption tax and value-added tax on gasoline to bring its prices down. The plan was announced Thursday by a ministry official without disclosing further details. Currently special consumption tax is at 8-10 percent and value-added tax is at 10 percent. Gasoline […]

Retail Asia07/06/2022
Facebook-Meta-Zuckerberg-1280x768.jpg
2min0
Cross-borders platforms like Facebook and Google have paid VND5.1 trillion ($220 million) in taxes for the period between 2018 and 2021, says Finance Minister Ho Duc Phoc. He informed lawmakers in a report that by April 2021, Facebook had been taxed VND1.97 trillion; Google, VND1.9 trillion; and Microsoft, VND651 billion. The figures were 15 percent […]

Retail Asia25/05/2022
bigstock-Facebook-on-iPhone-60749489-1-1024x682.jpg
1min0
Facebook parent Meta will charge a 5 percent value added tax on all Vietnamese advertisements starting June 1 after assuring the government it will fulfill its tax obligations. Meta executives last week told Prime Minister Pham Minh Chinh that the company would register and pay tax as a foreign contractor doing business in Vietnam. Authorities […]


About Retail News Asia

Retail News Asia is committed to providing local and global retailers with the latest news from the Asian retail market on a daily basis.

We have resources for everyone from independently owned business owners to online-only retailers and major chains expanding their reach throughout the Asian market. Retail News is “the news source” with over 50 weekly posts and 13,6 million readers.


CONTACT US

CALL US ANYTIME

Most read



Retail updates

Stay up to date of the lates updates and retail news from Asia.








X