Facebook collects 5% more tax on advertisers in Vietnam
Recently, Meta – the parent company of Facebook has announced that from June 1, 2022, ads on the Facebook platform will be charged an additional 5% VAT. This will affect advertisers who have set Vietnam as the target country to run ads on their personal or business address.
This information has just been posted officially on Meta’s “Business Support” page.
In its post, Meta recommends that customers add their Vietnamese tax code in the payment settings. However, this will not be required if you want to run ads with Facebook.
But once you have registered for VAT and provided a tax code, the information will be displayed on the customer’s advertising invoice. This can help them get a partial refund of VAT paid under the guidance of the General Department of Taxation.
Facebook confirmed, VAT will be added whenever a customer is charged for advertising, including buying ads on Facebook for business or personal purposes.
Recently, within the framework of a working visit to the US by Prime Minister Pham Minh Chinh and the Vietnamese delegation, representatives of the Public Policy Department of Meta had a meeting and exchange with the Prime Minister and other representatives of the Government. delegates on issues related to the development of the digital economy.
Meta had a meeting and discussion with the General Department of Taxation in April 2022 to clarify the implementation of Circular 80 (about the mechanism of registration, declaration and payment of tax for foreign contractors) in Vietnam.
Meta has informed the General Department of Taxation that the Group will register, declare and pay Foreign Contractor Tax in accordance with the Circular.
Meta will work and provide the necessary information to its advertisers and customers to ensure smooth tax declaration and payment in the near future.
at Blogtuan.info – Source: genk.vn – Read the original article here
