Proposed amendments to e-commerce tax declaration and payment

February 21, 2022 - 20:52

The Ministry of Finance (MoF) is seeking comments on a new draft decree that provides amendments to Decree No.126 on tax administration and Decree No.123 on invoices.

Shopee is one of the largest e-commerce platforms in Việt Nam. The draft is expected to change the way its sellers declare and pay tax. Photo tinnhanhchungkhoan.vn

HÀ NỘI — The Ministry of Finance is seeking comments on a new draft decree that provides amendments to Decree No 126 on tax administration and Decree No 123 on invoices.

According to the new draft, e-commerce platform owners must declare and pay tax on behalf of individual sellers for goods and services sold on their platform online.

For goods and services not sold online, the owner must declare and pay tax on behalf of individual sellers, under their authorisation.

The owner is also required to disclose information to tax authorities of traders, organisations and individuals, who have made transactions on their platform.

The information includes the sellers’ names, tax codes, IDs, addresses, phone numbers, and sales revenues of goods and services sold online.

Information disclosure shall be made quarterly via electronic means in accordance with regulations on electronic tax transactions, or via direct connections if the connections meet technical standards set by the General Department of Taxation.

People can make their comments on the draft via the ministry's online portal. — VNS

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

Economy

Việt Nam's administrative restructuring will not impact foreign investors, says Foreign Ministry

Economy

Hà Nội buzzes with year-end shopping opportunities

Economy

PM asks efforts to achieve more than 8 per cent economic growth in 2025

Economy

AEON Vietnam boosts recruitment and expansion in 2025

Economy

7th Việt Nam-Japan Joint Committee meeting on industry, trade, energy cooperation held in Tokyo

More on this story

Economy

PVEP to produce 0.23 million tonnes of oil equivalent this month

The PetroVietnam Exploration Production Corporation (PVEP) plans to produce an estimated 0.23 million tonnes of oil equivalent, including 0.18 million tonnes of oil and condensate and 54 million cu.m of gas, this month.

Economy

Enterprises to declare on digital border gate platform from Monday

From Monday, all of import-export enterprises and customs agents are required to declare information online on the digital border gate platform before arriving the Hữu Nghị and Tân Thanh international border gates.

Economy

Thermal power businesses report contradictory earning results

While many thermal power enterprises reported positive results in both revenue and profits in the fourth quarter of last year, there are still enterprises reporting a decline in profits, even suffering losses.

Economy

Current, savings account ratio on the rise

A financial report analysis of 24 Vietnamese banks shows that average Current and Savings Account (CASA) ratio of these banks rose from 17 per cent in 2020 to 19.4 per cent in late 2021.

Economy

Việt Nam ready to welcome back tourists

Almost two years on from the border being shut, Việt Nam's tourism sector is ready to welcome back foreign tourists from next month.

Economy

Gov seeks ways to help southern farmers to sell products

How to ensure prices of produce do not plummet when farmers have bumper crops is a question that has been circulating for many years, especially in the Cửu Long (Mekong) Delta.

Economy

New measures to be applied to ensure safe, pragmatic reopening

The local tourism industry has a golden opportunity to reopen for international tourists on March 15, after a two-year border closure due to the pandemic. However, it is vital that safety and efficiency are prioritised alongside making the most of the opportunity, according to experts.