A message from the IT industry
Come on Vietnam! If you expect we delocalize our IT sweatshops from India to your country you have to be more accommodating than this
Big Tech’s Asian lobby group, The Asia Internet Coalition, has issued a statement calling for Vietnam to consult on the impact of its proposed tax laws and then rewrite them. In 2019, Vietnam passed new tax laws that required global digital businesses to pay tax on income made within the nation’s borders even if the business …
Google et al, are relying heavily on America's ability to threaten nuclear retaliation on the rest of the world if they fail to agree on a universal 0.00001% digital tax.
This is of course American democracy at its finest and ISIS can only seethe at how effortlessly America wields this shitty stick at everyone, while maintaining it is the greatest democracy in the multiverse.
No matter how you pay for goods, at some stage either physical cash has to cross a border or resident bank has to transfer the money over a border. Maybe they should be looking at taxing that instead?
Any FinTech people here who could comment on that? Personally, I have no clue other than knowing it's hard to work out what to do.