Tax declaration for individual income from Google, YouTube, Facebook in Vietnam

Social networking technology platforms such as YouTube, and Facebook … have difficulty declaring and fulfilling their tax obligations. Viet An tax agent provides service to tax declaration for individual income from Google, YouTube, Facebook in Vietnam, or extends for digital information content in general to assist individuals in fulfilling their tax obligations quickly, accurately, and efficiently.

Legal basis

• Law on Tax Administration 2019.
• Law on Value Added Tax 2008, as amended in 2013, 2014, 2016.
• Other related guidelines documents.

Determining tax declaration obligations

• Individuals with income from Google, Facebook, YouTube… below 100 million/year in Vietnam are not required to pay personal income tax (PIT) and value-added tax (VAT).
• Individuals earning over 100 million VND/year must declare and pay tax:
• Amount of VAT payable = Revenue subject to VAT x 5%
• Amount of PIT payable = Revenue subject to PIT x 2%

Deadline for declaration and payment of taxes

• In case individuals choose to pay tax by the declaration method, the time limit for submitting monthly tax declaration dossiers is the 20th day of the month following the month in which the tax liability arises; quarterly, no later than the last day of the first month of the quarter following the quarter in which the tax liability arises.
• In case an individual chooses to pay tax according to each time it is incurred, the time limit for filing a tax return is the 10th day after the tax liability arises.

For example: On November 22, 2021, Mr. Nguyen Van A received an income from Google of VND 100,000,000. declare and pay taxes.

In Vietnam, as in many other countries, individuals who earn income from sources such as Google, YouTube, Facebook, and other online platforms are generally required to declare and pay taxes on their earnings. Here are some benefits of properly declaring your income and reasons why you should not try to evade taxes:

Benefits of service for tax declaration for individual income from Google, YouTube, Facebook in Vietnam

With the tax declaration procedure, foreign people should not do it themselves for the following reasons:

• Tax laws and regulations can be complex, and they often change. It can be challenging for individuals to stay up-to-date with the latest tax rules and ensure they are correctly applied to their income.
• Filling out tax forms and calculating taxes can be prone to errors. Mistakes can lead to underpayment or overpayment of taxes, which can result in financial penalties or missed deductions.
• Handling tax matters can be time-consuming.
• If you make mistakes or fail to declare income, you may be subject to penalties and interest on unpaid taxes. A tax professional can help you avoid these financial consequences.

So resorting to the service of a professional agent will be a more effective way for individuals, especially for foreigners:

• Declaring your income and paying taxes is a legal requirement in most countries, including Vietnam. Failure to do so can result in penalties, fines, on legal consequences.
• Professionals can help you with tax planning strategies to legally minimize your tax liability. This may include taking advantage of deductions and credits that you might not be aware of.Hiring a tax professional can save you time and allow you to focus on your core activities.
• Professionals can help avoid legal In Vietnam, tax evasion is a criminal offense, and those found guilty can face significant fines and even imprisonment.
• Building Creditworthiness: Being a responsible taxpayer can positively affect your creditworthiness, making it easier to obtain loans or other financial services in the future.
• Avoiding Stress: Evading taxes can cause stress and anxiety due to the fear of being caught. Properly declaring your income can provide peace of mind and reduce this stress.
• Insurance and Social Benefits: In some countries, paying taxes also entitles you to social benefits, such as healthcare coverage or retirement benefits. By not declaring your income, you may miss out on these benefits.

In summary, declaring and paying taxes on income earned from platforms like Google, YouTube, and Facebook in Vietnam is a legal obligation with several benefits, including legal compliance, avoiding penalties, and supporting public services. It’s advisable to seek the assistance of a qualified tax professional or accountant to ensure that you meet your tax obligations accurately and efficiently, especially if you are unfamiliar with tax laws and regulations or if your financial situation is complex.

Why should individuals use the tax declaration service of Viet An Tax Agent?

• Reasonable declaration service fee, quick job processing;
• Viet An’s tax agent staff are not only knowledgeable about tax law, but also have good knowledge of technology platforms;
• Viet An tax agent performs all tax declaration and payment operations and is fully responsible for tax declaration when any risks arise for individuals.

Individuals wishing to use tax declaration services, please contact Viet An Tax Agent for advice and support in using the service!