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Vietnam brings financial intermediaries into VAT compliance

Tax office seeks tax information from platforms, banks and others to tighten VAT collections

Vietnam’s General Department of Taxation (GDT) has issued guidance for local tax offices to co-opt various parties in gathering details of taxable trade. This includes:

  • Home sharing platforms
  • Digital payments services
  • Payment intermediaries
  • E-commerce marketplaces
  • Intermediary transport applications

GDT is also looking for the tax offices to work with banks and similar organisations to collect tax transaction details of businesses below VAT registration thresholds. Also, brining in card payment companies to identify PayPal-related payments.

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