Vietnam State News Issues Information Concerning VAT on Livestreaming Sales

The Vietnamese News Agency Nov. 11 issued guidance concerning VAT on livestreaming sales. The guidance states: 1) organizations and individuals selling goods through livestream sessions must register, declare, and pay taxes; 2) individuals must pay personal income tax based on a progressive schedule with seven levels, from 5 percent to 35 percent; 3) earned commissions are considered as revenue if a business household is registered in the industry, registered for tax, and managed by the Tax Authority; and 4) business households must declare and pay tax at a combined 7 percent tax rate, which includes 5 percent VAT and 2 ...