Data collected on more than 300 companies that own e-commerce platforms

May 13, 2024 - 16:34

The tax authority has focused on tax management for e-commerce activities towards digitalisation from the end of last year and early this year.

A seller uploads product information onto an e-commerce platform. — VNA/VNS Photo

HÀ NỘI — The Hà Nội Tax Department has built a database of over 320 companies that own e-commerce platforms.

The trend of converting from traditional business to digital platforms is becoming increasingly popular and is considered an effective solution to help organisations and individuals expand and develop production and business activities, said Vũ Mạnh Cường, director of the Hà Nội Tax Department.

The municipal tax department has proactively implemented tax management solutions for this activity and is one of the leading units nationwide in successfully implementing the Government's Project 06 on developing applications for data on population, identification and electronic authentication.

To date, the data matching rate with the Ministry of Public Security (MPS) has reached over 92 per cent, Cường said.

The tax authority has focused on tax management for e-commerce activities towards digitalisation from the end of last year and early this year.

Identification and positioning of organisations and individuals, data information about transactions and e-commerce business objects are updated regularly and continuously.

The tax department is the first unit to match information between citizen identification cards of individuals doing business on e-commerce platforms with tax codes and has built a database of information on bank accounts, revenues, tax rates and cash flows of organisations and individuals that generate income from e-commerce business activities, correctly determining the taxpayer's obligations.

To prevent budget revenue loss from e-commerce business activities, right from the beginning of the year, the Hà Nội Tax Department has developed an inspection plan for e-commerce topics in 2024 for a total of 2,342 organisations and individuals.

Initial results, the tax department has reviewed and made decisions and notified 1,749 organisations and individuals according to the inspection process.

More than 900 organisations and individuals have been handled. As a result, revenue increased by VNĐ104 billion (US$4.25 million), deductions reduced by VNĐ43 billion, and losses decreased by VNĐ59 billion. — VNS

Tags tax management tax collection e-commerce platforms

Small, low-value items imported on e-commerce platforms should be taxed

The vast majority of those are being imported through e-commerce platforms, including some of the largest in the country such as Shopee, Lazada and TikTok, with combined value reaching billions of dollars monthly.

Brandinfo

How does Fatzbaby always lead e-commerce market in highly competitive mother & baby products market?

According to a report released by e-commerce data platform Metric, the market for mother and baby products will grow from the third quarter of 2023, with Fatzbaby being the market leader in mother & baby care support equipment across e-commerce channels in 2022-2023.

Economy

E-commerce activities divided into eight groups for easy management

Tax administration data shows that revenue from e-commerce business activities amounted to VNĐ3.1 quadrillion (US$130.57 billion) in 2022, with taxes paid totalling VNĐ83 trillion.

Economy

Policies needed to encourage e-commerce to embrace circular economy

A recent report on plastic wastes from e-commerce by Việt Nam E-Commerce Association pointed out that e-commerce is growing rapidly with an average annual growth rate of more than 25 per cent, resulting in an increase in the use of plastic packaging which are negatively affecting the environment.

Economy

E-commerce contributes $7 million in taxes during 2022-23

A number of solutions have been implemented to enhance the tax management on e-commerce, including the

Economy

E-commerce platforms: a boost for OCOP products

In addition to traditional distribution channels, through e-commerce initiatives, local products, especially One Commune One Product (OCOP), gain faster and more effective exposure to consumers nationwide compared to traditional channels, which is particularly beneficial for newly established firms.

Economy

AI continues to revolutionise e-commerce industry: forum

AI will continue to revolutionise the e-commerce industry, providing businesses with the ability to predict consumer behaviour and make informed decisions that drive sales, speakers said at a meeting on Wednesday in HCM City.

NA ratifies the UK’s CPTPP accession protocol

Economy

Embracing digital payments

Economy

Philippines reduces rice import tax to 15%

Economy

Bến Tre clam farming sector awarded third MSC certificate

Economy

KBC plans to open a vocational school for chip manufacturing

Economy

Enterprises advised to focus on deep processing to enter Asian and African markets

More on this story

Economy

Businesses urged to go green, participate in carbon credit market

Businesses need to have solutions and roadmaps to improve their competitiveness and innovate technology for green and sustainable production, thereby creating carbon credits.

Economy

VN ranks second in the world in cryptocurrency ownership rankings

Việt Nam ranks second in the world in cryptocurrency ownership with 21.2 per cent of the population adopting crypto, according to data from the Crypto payment gateway Triple-A.

Economy

Largest made-in-Vietnam bulk carrier launched

The largest-ever made-in-Vietnam bulk carrier was recently launched by Nam Triều Shipbuilding Co Ltd in the northern port city of Hải Phòng.

Economy

Businesses and people expect VAT cut extension to be approved

The VAT reduction from 10 per cent to 8 per cent is being implemented according to Resolution 110/2023/QH15, from January 1 to June 30, 2024.

Economy

Việt Nam's data centre sector is attractive to foreign investors

Việt Nam's data centre market is attracting foreign investors due to high demand

Economy

Energy giants plan for national power plan

The recent approval of the implementation plan for Việt Nam’s eighth national power development plan (PDP8) has heated up the discussions around business strategies of energy giants in the race to gain advantages in energy transition towards the country’s net-zero goals.