Vietnam is identified as the country with the fastest eCommerce growth in South-East Asia. — VNA/VNS
HANOI: Digital transformation is an inevitable trend that changes the way goods and services are consumed and supplied, especially activities on digital platforms, making tax management more complicated.
Finance Minister Ho Duc Phoc said that Vietnam’s total eCommerce revenue reached US$20.5bil last year and will reach US$30.5bil by 2025.
Vietnam is identified as the country with the fastest eCommerce growth in South-East Asia. This raises requirements for tax management and management of goods quality and anti-fraud on eCommerce platforms.
A representative of the Ministry of Finance said that tax management data in the last two years recorded tax collection results from organisations and individuals with eCommerce business activities at 83 trillion dong in 2022, the tax paid was D97 trillion dong last year.
Tax management revenue from organisations and individuals with eCommerce business activities was 1.98 quadrillion dong in the first six months of this year. Taxes paid amount to nearly 55 trillion dong. Twenty-six new foreign suppliers have registered, declared and paid taxes in Vietnam.
To implement the government’s direction, the General Department of Taxation (GDT) has issued many directives and documents requiring provincial and city tax departments to strictly manage tax receipts.
In addition, the tax authority has increased the exploitation and review of eCommerce databases, continued to add to the database, and reviewed the quality of information provided by the platform.
At the same time, it has organised inspections and examinations of enterprises in the eCommerce sector, strengthened tax management in the field of communications and digital content creation generating income from online advertising on cross-border platforms and reviewed information for organisations and individuals live streaming for selling on social platforms.
The GDT has also worked with the focal points of ministries and branches and agreed on a detailed plan for connecting and sharing data between ministries and branches and unifying standards and regulations for connecting and sharing data.
To date, this unit has completed over 90% of the review of the Public Security Ministry’s database with the tax code database to implement the conversion of using citizen identification cards as tax codes in accordance with regulations. — Viet Nam News/ANN
