Obligations and opportunities for foreign providers of digital services in Vietnam.

An episode discussing foreign providers of digital services selling into Vietnam, looking at the broad digital media spectrum. We will seek to explain what are the newest taxation compliance provisions in Vietnam for these entities, and delve into the efficient structures that can be implemented in country for an effective revenue and tax strategy.

Some of the areas covered are:

• Decree 126 issued in November 2020 with effect in 5 December 2020, and its effects on foreign business involved in digital commerce in Vietnam
• Details on the Law of Tax Administration 2019 and its implications
• The cybersecurity law, which aims at data protection and access to data as well, and how it is connected with the decree seeking to regulate taxation structures for digital companies
• Banks and payment providers’ obligations to withhold and report taxation provisions
• The need to set-up a permanent establishment (PE) in Vietnam, and the benefits to this approach