A consumer shops online on an e-commerce platform. — Photo Baotintuc.vn

HÀ NỘI — The Ministry of Finance has revealed that more than 300,000 vendor accounts on five major e-commerce platforms — Shopee, Lazada, Tiki, Sendo and Grab — remain unidentified, despite generating revenue exceeding VNĐ70 trillion (US$2.7 billion).

Meanwhile, tax revenue from e-commerce activities continues to lag significantly behind the sector’s rapid growth.

As of 2024, more than 500,000 organisations and individuals are conducting business across over 400 e-commerce platforms, contributing a total of VNĐ116 trillion in taxes.

Among these, 300,000 individuals have collectively paid VNĐ2.5 trillion, however, the large number of unidentified sellers continues to pose challenges for effective tax collection.

The ministry noted that if e-commerce platforms were to withhold and pay taxes on behalf of sellers, tax administration would become far more transparent and efficient. At a withholding tax rate of 1.5 per cent (including 1 per cent VAT and 0.5 per cent personal income tax), the potential tax revenue from VNĐ70 trillion in turnover could exceed VNĐ1 trillion.

In addition to domestic platforms, many are also active on international digital platforms such as Booking, Agoda, Airbnb, Google, YouTube, Facebook, TikTok, Netflix, Spotify, and app stores like Apple Store and Google Play. Of particular note is the growing presence of Key Opinion Leaders (KOLs) and livestream sellers, who are not yet subject to strict tax oversight.

Under Law No. 56/2024/QH15, which came into effect on April 1, organisations managing e-commerce platforms and digital platforms with payment functions — whether based domestically or overseas — will be obliged to withhold and remit taxes on behalf of individual and household businesses. They must also declare the amount withheld to the tax authorities.

The Ministry of Finance confirmed that major platforms already possess full data on sellers and transactions. Withholding tax at source would simplify procedures for individuals, support tax administration efforts and significantly boost budget revenue from digital business activities.

Earlier, the Vietnam E-commerce Association (VECOM) proposed postponing the implementation date of this tax requirement from April 1 to July 1. — VNS