VATThe Vietnam E-commerce Association (VECOM) has voiced concerns over a new regulation that would require e-commerce platforms to file for taxes on behalf of household and individual businesses. While this measure may reduce the number of tax filings and ease the burden on tax authorities, it would effectively transfer the responsibility to the platform operators, which are not tax agents and lack necessary expertise. Conflicts with existing laws The draft of a law amending seven laws in the financial sector, including the Tax Management Law, will be submitted to the National Assembly on October 21, 2024. A key aspect of the draft proposed by the Ministry of Finance is to hold e-commerce platforms with online ordering functions responsible for filing for taxes on behalf of businesses and individuals as vendors on these platforms. This proposal seeks to streamline administrative processes, consolidate tax declarations, and facilitate tax payments via the online portal for those involved in e-commerce. Instead of requiring thousands of individuals to file for taxes, the e-commerce platform would act as the intermediary, responsible for tax declaration and payment. The measure is also designed to expand revenue sources and reduce tax evasion, thereby protecting state budget revenues. At a […]
To read more, please click here.
