Vietnam B2C e-commerce withholding VAT - July 2020

1 August 2019

From 1 July 2020, Vietnam will extend VAT to non-resident e-commerce sales to consumers. This will apply to both sales of goods and digital services.

When introduced the new tax will be collected via banks and credit card companies based in the country when payment is received from their customer, and they will then be responsible for paying this over to the Vietnam tax authorities.

The non-resident sellers will still have a requirement to VAT register in order to report these transactions in the country.

LATEST NEWS

Russia to cut VAT rates

The Russian government recently proposed that it will gradually reduce its Value Added Tax (VAT) rate from 20% to: 18% from 2021; 15% from 2023; and 12%...

SEE MORE
LATEST NEWS

Emergency VAT measures to combat the financial impact...

Due to the negative financial impact that the Coronavirus pandemic is having on businesses all over the world, a number of tax authorities have implemented...

SEE MORE
LATEST NEWS

UK to cut e-book VAT rate from 1 December 2020

From 1 December 2020, the UK will cut the Value Added Tax (VAT) rate on digital publications (e-books) from 20% to 0%.  This follows the EU Council’s...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.