Vietnam: Tax revenue from Google, Youtube, Facebook reaches US$49.5 million in 2020

Due to the impact of the COVID-19 pandemic, digital economy business activities recorded very rapid development. - The Vietnam News/ANN

HANOI, Feb 7 (Vietnam News/ANN): Tax revenues from online advertising business models of foreign organisations that do not have legal entities in Việt Nam like Google, YouTube or Facebook hit VNĐ1.14 trillion (US$49.5 million) last year, reported the General Department of Taxation.

The value-added tax was VNĐ519 billion and corporate income tax VNĐ624 billion.