Vietnam’s Ministry of Finance has released a draft Decree on Tax Administration for E-Commerce and Digital Platforms (“Draft Decree”), introducing significant tax compliance obligations that could reshape how digital platforms, and individuals and business households conducting business through the platforms, manage their tax responsibilities. Aimed at strengthening tax enforcement, the Draft Decree requires e-commerce and digital platforms to actively track and withhold taxes from business households and individual sellers, and remit payments to tax authorities. While it has not yet been promulgated, the Draft Decree is expected to take effect on April 1, 2025, leaving platforms with a limited window to prepare for compliance. Who Is Affected by the New Tax Rules? The Draft Decree significantly broadens the tax administration scope beyond traditional e-commerce platforms to cover a wide range of digital economy participants. Specifically, the Draft Decree places direct tax-related responsibilities on two major categories (collectively, “Regulated Operators”): E-commerce and digital platforms with payment functions (e.g., platforms that process buyer payments via e-wallets, bank transfers, cards, or cash-on-delivery); and Other digital-economy players that enable e-commerce transactions, including (i) intermediary service platforms connecting service providers with consumers, (ii) digital content platforms, (iii) online advertising providers, (iv) cloud computing and data storage providers, (v) social media platforms engaged in business activities (e.g., live-stream, in-app transactions), (vi) online education, gaming, and digital entertainment platforms generating revenue from digital transactions, (vii) Vietnam-based partners of foreign digital service providers facilitating local payments for overseas platforms, and (viii) intermediary payment service providers handling financial transactions for e-commerce activities. Under the Draft Decree, Regulated Operators will be required to track, report, and enforce tax compliance for both resident and nonresident individuals and households conducting business through their platforms (“Sellers”). What New Tax Obligations Do Platforms Face? Onshore platforms For the first time, Regulated Operators will

Thailand’s Securities and Exchange Commission (SEC) will officially add USD Coin (USDC) and Tether (USDT) to its list of approved cryptocurrencies for use in digital asset transactions on March 16, 2025. The addition is a significant move that expands Thailand’s digital asset market, aiming to enhance market flexibility and provide more payment options for investors and traders in Thailand’s digital asset ecosystem. Under the SEC regulations, digital asset operators, including digital token issuers, ICO portals, and digital asset exchanges, are only permitted to accept, conduct transactions with, and use “approved cryptocurrencies” as trading pairs. After the addition of USDC and USDT, the full list of approved cryptocurrencies will include: Bitcoin (BTC) Ethereum (ETH) Ripple (XRP) Stellar (XLM) Tether (USDT) USD Coin (USDC) Other cryptocurrencies used for testing programmable payments under the enhanced regulatory sandbox in accordance with the Bank of Thailand’s rules and conditions. For more information on these new additions, or on any aspect of digital assets and cryptocurrency in Thailand, please contact Kobkit Thienpreecha at [email protected], Pornpan Wichawut at [email protected], Napassorn Lertussavavivat at [email protected], or Rujaporn Paritsantik at [email protected].

Vietnam’s Decree No. 163/2024/ND-CP (Decree 163), which has been in full effect since January 1, 2025, provides crucial guidance on the implementation of Vietnam’s 2023 Telecom Law. Decree 163 replaced Decree No. 25/2011/ND-CP dated April 6, 2011 (Decree 25), which guided the implementation of the previous 2009 Telecom Law, and introduces many notable changes to the regulations on telecom service provision. Some key changes that will impact businesses engaged in the telecom sector in Vietnam are detailed below. 1. Classification of Telecom Services The classification of telecom services into “basic telecom services” and “value-added telecom services” has been retained, in alignment with Vietnam’s WTO commitments in the telecom sector. However, Decree 163 expands the scope of both categories, as follows: Basic telecom services: “Transmission services for machine-to-machine (M2M) communication” and “leasing services of all or part of the telecom network” are added. “Image transmission services” is changed to “transmission services for radio and television.” Value-added telecom services: “Data center services,” “cloud computing services,” and “basic telecom services over the internet” (also known as over-the-top (OTT) telecom services) are added. 2. M2M Communication Services Since M2M communication services are classified as basic telecom services, without exception, they are subject to the same regulatory framework. Specifically: Cross-border provision: M2M communication services provided across borders must be conducted through a commercial agreement with a Vietnamese telecom enterprise licensed to provide telecom services with an international communication scope. Onshore provision: Onshore M2M communication services will require a telecom license. 3. New Telecom Services (Data Center, Cloud, and OTT Telecom Services) The 2023 Telecom Law adopted a light-touch management approach for data center, cloud, and OTT telecom services by not requiring the same licensing as previously regulated value-added telecom services, but instead mandating registration or notification before service provision. Decree 163 offers clearer guidance

Tilleke & Gibbins has contributed the Vietnam chapter to Data Protection 2025, a comprehensive comparative guide in the Law Over Borders series from Global Legal Post. This Q&A-style resource offers detailed insights into data protection regulations across multiple jurisdictions, serving as an essential reference for organizations managing personal data in today’s global business environment. The Vietnam chapter examines the evolving data protection landscape in Vietnam, including analysis of relevant provisions in the Cybersecurity Law, the Law on Information Technology, and the upcoming Personal Data Protection Decree. The chapter addresses key aspects of data protection through the following topics: Regulatory framework: Analysis of national laws regulating personal data, jurisdictional scope, application to different entities, and regulated data processing activities. Data categories and processing: Overview of regulated personal data types, special categories requiring enhanced protection, and lawful processing requirements. Compliance requirements: Explanation of controller and processor obligations, technical and organizational measures, and data subject rights. Commercial communications and international transfers: Rules governing direct marketing and cross-border data flows. Regulatory oversight: Details on enforcement powers, investigation procedures, sanctions, and remedies for noncompliance. Tilleke & Gibbins also contributed the Thailand chapter to Data Protection 2025. Readers can access the complete Data Protection 2025 guide through Global Legal Post’s Law Over Borders platform.