Netflix, Apple Accused of Skirting Tax Payments in Vietnam

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Vietnam’s info minister on Tuesday accused overseas streaming corporations like Netflix and Apple of skirting their tax obligations, saying it could create unfair competitors for home companies.

International stream companies, which have mixed revenues of almost VND one trillion (roughy Rs. 300 crores) from a million subscribers, in response to the data and communications ministry’s calculations, have by no means paid tax in Vietnam.

“Home corporations need to abide by tax and content material rules whereas overseas companies don’t, which is unfair competitors,” the minister, Nguyen Manh Hung, informed a authorities assembly.

“Some content material on Netflix has flouted rules associated to the historical past and sovereignty of the nation, violence, drug use, and intercourse,” he added.

Vietnam launched a cyber safety regulation two years in the past that requires all overseas companies incomes revenue from on-line actions in Vietnam to retailer their information within the nation.

However Netflix has but to share any plans to put its servers regionally or open an workplace in Vietnam.

The agency stated in an announcement final month that it was working with Vietnamese authorities to arrange a mechanism for tax assortment.

Netflix had no instant remark when contacted by Reuters and stated it could present a response later.

Hung stated the data ministry, finance ministry and tax division have been working collectively to facilitate tax assortment by calculating overseas streaming companies’ revenues in Vietnam since their entries into the market.

Tech giants are more and more dealing with more durable fiscal regimes in Southeast Asia, the place regulators held talks final yr on a regional push to tax tech giants extra.

The Philippines, Thailand and Indonesia have not too long ago handed or drafted laws hoping to make sure taxes are paid.

© Thomson Reuters 2020


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