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Once a company neglects its tax duty, the authority will automatically charge their tax from the bank accounts of partners like MoMo.
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Appstore viet nam registration#
The General Department of Taxation is planning to publish all tax registration of companies on its official website. The new law means that overseas service providers will have to directly, or through third parties, perform their tax obligations despite having no representative offices in the nation. Specifically, Article 42 outlines that all cross-border businesses that are earning money from Vietnam must register and pay their tax here. On the flip side, under the new Law on Tax Administration that will come into force on July 1, Google and Apple will not be able to ignore their tax obligations in Vietnam. This leaves the question whether services like MoMo must take responsibility for tax within the nation. Thus, e-wallet services are also responsible for transferring local users’ payments to these tech giants based outside of the country. Moreover, local users can purchase applications on either app market by using e-wallets such as MoMo for their payments.
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However, none of the groups’ profits have so far been taxed in Vietnam. Both groups use different monetisation models depending on the developer, leaving them with around 70-85 per cent of an app’s subscription fee or price. Since then, they have been rapidly evolving and represent the common knot linking independent developers and millions of smartphone users. Meanwhile, Ho Chi Minh City Department of Taxation in March collected VND14 billion ($610,000) in tax from 89 organisations and individuals running online businesses.Īpple and Google both launched their app markets in 2008 in Vietnam. Under the flourishment of technology in recent years, many young Vietnamese have been earning their living by designing applications and offering them on one or both platforms for sale.Īccording to Hanoi Department of Taxation, the capital is home to about 1,000 people earning a living from online platforms with a total turnover of about VND4.8 trillion ($208 million).
Appstore viet nam software#
According to data published by local advertisement company Adsota, 43.7 million people use smartphones, roughly 45 per cent of Vietnam’s population.Īpple and Google have been said to both take advantage of software designers in Vietnam. On both platforms, smartphone applications such as games and office tools are commonly offered for up to $20 in the Vietnamese market. However, as of now, local tax authorities have been barely able to touch these transactions. Local users have been paying sizable amounts of money to acquire and use applications offered on either Apple’s Appstore or Google Play. Apple and Google have been on top of the pile for over a decade