Facebook to charge 5 pct tax on Vietnam ads

Meta executives last week told Prime Minister Pham Minh Chinh that the company would register and pay tax as a foreign contractor doing business in Vietnam.

Authorities have been calling for properly taxing tech giants like Meta and Google, pointing out they account for around 70 percent of the online advertisement market but use various means to evade tax.

They taxed cross-border platforms a total of VND5 trillion ($218.5 million) between 2018 and last year.