Online sales tax collection over $22 million in 2023

January 03, 2024 - 07:36
With the ability to grow 35 per cent per year, the market size is expected to reach $21.3 billion this year and $57 billion by 2025.
Shopee e-commerce floor. — Photo vietnamplus.vn

HÀ NỘI — Revenue from e-commerce for domestic organisations and individuals reached VNĐ536.5 billion (US$22.35 million) this year, reported the General Department of Taxation (GDT).

Tax authorities also collected and handled violations of about VNĐ275 billion from 179 businesses and 1,061 individuals doing business on the floor.

According to data in the White Book on Vietnamese E-Business 2022 of the Ministry of Industry and Trade, the total value of e-commerce goods and consumption in Việt Nam achieved outstanding growth, increasing from $8 billion in 2020 to $16.4 billion last year.

With the ability to grow 35 per cent per year, the market size is expected to reach $21.3 billion this year and $57 billion in 2025.

Currently, about 60 per cent of the population participate in online shopping, equivalent to 57 - 60 million consumers.

After a year of operating the E-commerce Information Portal, from December 15 last year, the tax authority has recorded 357 e-commerce trading floors providing information by the end of this year.

Notably, information provided by the GDT shows the effectiveness of implementing the E-commerce Information Portal when declaring tax amounts of businesses and individuals with business activities on the e-commerce transactions floor this year increasing compared to the same period last year.

In addition, the operation of the electric portal for e-commerce foreign suppliers has made Việt Nam one of the leading countries in the ASEAN region in collecting taxes through electronic information portals for cross-border suppliers.

The tax authorities continue to achieve good results in tax management for e-commerce activities and foreign suppliers.

Up to now, there have been 74 foreign suppliers who registered, declared and paid taxes through the electric portal for foreign suppliers.

The total tax paid by foreign suppliers is VNĐ8.1 trillion, of which VNĐ6.9 trillion was declared and paid directly through the electronic information portal and VNĐ1.2 trillion was deducted and paid on behalf of Vietnamese parties, according to the GDT.

The cumulative revenue from e-commerce activities through organisations in Việt Nam declared on behalf of contractors from 2018 to the end of last year is over VNĐ5.5 trillion, an average of over VNĐ1.2 trillion per year.

Since the operation of the electronic information portal for foreign suppliers from March 21 last year until now, foreign suppliers have voluntarily registered, declared and paid direct taxes of more than VNĐ10 trillion.

To continue to strengthen tax management, the GDT will continue to provide unified guidance on receiving and processing information from domestic e-commerce trading floors, aiming to fully manage tax payers and tax revenue sources, avoiding revenue loss from this potential field next year.

In addition, to promote digital transformation, the tax authorities have deployed digital map applications such as digital maps of land prices, real estate transfer prices, digital maps of mineral mines, and digital maps of household businesses.

Particularly, the digital maps of household businesses have been built and deployed on the Etax Mobile application to help tax authorities manage taxpayers visually and grasp the area well.

From there, tax authorities collect correctly, fully and promptly, prevent omissions and loss of budget revenue, and at the same time strengthen the supervisory role of the people and between business households, creating fairness and transparency. — VNS

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