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Vietnamese banks concerned as mandate forces withholding of tax money from client accounts


Tuesday, March 09, 2021, 15:54 GMT+7
A delivery worker is seen riding a motorbike on a street in Vietnam. Photo: Quang Dinh / Tuoi Tre
In a bid to collect due tax from foreign service providers, Vietnamese authorities are requiring banks and payment intermediary service companies to withhold and pay tax from the accounts of e-commerce foreign contractors who do not register as a taxpayer in Vietnam, raising concerns over overload and risky transactions at local lenders.
The direction was set forth in a draft circular to guide the implementation of Decree 126, which provides guidance for the application of the Law on Tax Administration. ....

Han I , Republic Of , Ho Chi Minh City , H Chíinh , Quang Dinh Tuoi , Le Hoang Tung , Nguyen Van Duoc , Department Of Taxation , Tax Consulting Co , Legal Advisory Center , Law On Tax Administration , General Department , Tuoi Tre , Vietnamese Facebook , Quang Dinh , Trong Tin Accounting , Tax Consulting , Nguyen Duc Nghia , Business Associations , Luu Duc Huy , Policy Department , Vietnam Life Vietnamese Banks Concerned As Mandate Forces Withholding Of Tax Money From Client Accounts , ஹான் நான் , குடியரசு ஆஃப் , ஹோ சி மிந் நகரம் , குவாங் டின் த்ூஓய் ,