Facebook announces to increase 5% fee for tax

25/05/2022by Zesno0

Facebook announces to collect additional 5 percent advertising fee to pay taxes

On the late afternoon of May 24, the official page of Meta, the company that owns the social network Facebook, announced the collection of an additional 5 percent tax from Vietnamese advertisers.
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In its announcement, the company said that from June 1, Facebook ads in Vietnam will be subject to an additional 5 percent value-added tax (VAT). This will affect advertisers who set Vietnam as the target country for business or personal addresses.
According to Facebook, VAT will be collected in two ways. With the automatic payment option, a 5 percent tax will be charged before the ad goes live. As a result, users will have to pay extra for an advertising plan on the platform. If an advertiser chooses to pay manually, VAT is calculated based on the actual rate, depending on the balance in the ad account.
An additional 5 percent tax will be applied to all of the platform’s ads, targeting customers in Vietnam and requiring advertising partners to add a tax code to the payment settings, Facebook said.
(SGGP)

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