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E-COMMERCE TAX REVENUE RISES 19% IN Q1
A shopper browses an online fashion platform in Vietnam - PHOTO: N.K
HCMC – Vietnam collected VND34.5 trillion in taxes from e-commerce businesses in the first quarter of this year, up 19% year-on-year, showed data from the Ministry of Finance.
Over the past three years, tax revenue from individuals and organizations active in the e-commerce sector has totaled VND296 trillion, the Vietnam News Agency reported.
To streamline tax compliance for e-commerce operators, a dedicated online tax portal was launched on December 19, 2024. The portal enables business households and individuals to register, declare, and pay taxes on digital and e-commerce platforms.
As of March 19 this year, the portal had facilitated tax registration and payment for over 55,000 users, contributing nearly VND410 billion to the state budget. Hanoi led the nation in tax payments via the portal with VND261 billion, followed by HCMC with VND71 billion. Nam Dinh and Bac Ninh provinces contributed VND7.1 billion and VND5.4 billion, respectively.
The Ministry of Finance also reported that 135 foreign suppliers have registered and paid nearly VND23 trillion in taxes through a separate online portal for overseas digital service providers.
In a bid to enhance oversight, the General Department of Taxation is drafting guidelines for managing e-commerce activities. It is also finalizing infrastructure and documentation to implement new regulations under a draft decree on tax administration for e-commerce and digital platform businesses.
Source: The Saigon Times
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