Facebook to charge 5 pct tax on Vietnam ads

After guaranteeing the authorities that it would meet its

, Facebook parent Meta will collect on all Vietnamese advertising beginning June 1.

Meta executives assured Prime Minister Pham Minh Chinh last week that the company will register as

doing business in Vietnam and pay taxes.

Authorities have been pressing for

like Meta and Google to be properly taxed, pointing out that they account for around 70% of yet employ various methods to avoid paying taxes. Between 2018 and last year, they charged for a total of VND5 trillion ($218.5 million).

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