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Read moreDetailsA recent directive was sent to 100 banks and intermediary payment service providers in Vietnam, requesting them to notify their branches of the obligation to withhold and remit taxes on transactions involving these foreign platforms.
These platforms are widely used in Vietnam, particularly for online travel bookings and cross-border payments.
They charge significant fees, with online booking platforms like Agoda, Airbnb, and Booking.com typically collecting 15–30% per transaction, while PayPal generates revenue through currency conversion fees.
Expert perspectives
E-commerce expert Bui Quang Cuong noted that these platforms play a substantial role in boosting Vietnam’s tourism and e-commerce sectors. However, he emphasized the importance of fulfilling tax obligations to create a “win-win” mechanism.
“By collecting taxes from these platforms, the government can reinvest in economic and…
