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Thursday, July 25, 2024

Vietnam cracks down on e-commerce tax evasion

The Saigon Times

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HCMC – Tax authorities are intensifying efforts to ensure online sellers comply with tax regulations, targeting individuals and organizations selling goods online without proper tax registration and payment.

They aim to strengthen the tax management in the e-commerce sector, covering transactions on social media and live selling platforms.

According to the General Department of Taxation, Vietnam has 3.1 million business households and individuals, with a significant number of online sellers yet to file for taxes.

To address this, the taxman has implemented data-sharing measures with other government agencies.

More than 663,000 data connections have been made with the Ministry of Public Security’s citizen database. Additionally, the General Department of Taxation is collaborating with the Ministry of Industry and Trade to review data from 929 e-commerce platforms and cross-reference information on 53,000 sellers. Major platforms under scrutiny include Shopee, Lazada, Sendo, Voso and Tiki.

Data showed that nearly 43,000 businesses and individuals faced audits in the first half of the year, resulting in the collection of nearly VND10 trillion, an increase of about VND3.5 trillion compared to the same period last year.

In the first six months of the year, tax authorities handled 4,560 violations, imposing penalties amounting to nearly VND300 billion. These measures aim to tighten control and ensure compliance in the growing e-commerce sector.

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