According to recent reports, the Vietnam Ministry of Finance is close to finalizing draft regulations to provide for the taxation of payments for cross-border e-commerce services provided by companies such as Facebook and Google. The regulations would introduce a withholding tax model where such payments will need to be made via the national payment portal NAPAS, with banks required to withhold the tax due. Currently, foreign contractor withholding tax (FCWT) could technically be levied on e-commerce services, but the nature of e-commerce makes it difficult for the tax authority to manage and collect the tax, resulting in the need for...