Hà Nội collects over $390m in taxes from e-commerce

Jul 4th at 08:38
04-07-2024 08:38:53+07:00

Hà Nội collects over $390m in taxes from e-commerce

The capital city has collected more than VNĐ9.9 trillion (US$390 million) in taxes from e-commerce activities so far this year, according to the municipal People's Committee.

A shopper looks for houseware online. — VNA/VNS Photo

The figure includes over VNĐ2.54 trillion in corporate taxes and over VNĐ7.36 trillion in taxes paid by household businesses, the committee said.

It said that the city has compiled data from 418 e-commerce business owners, 668 digital businesses and 54 businesses providing accommodation services and e-commerce sellers.

To prevent fiscal losses in e-commerce activities, the Hà Nội Department of Taxation had a plan for inspections and audits with a focus on e-commerce in 2024, targeting a total of 2,342 organisations and individuals, of which 1,749 have been audited, hanoitimes.vn reported.

Based on the results of the pilot, the tax management for e-commerce activities will be extended to the whole city, leading to the development of a city-level project on tax management for e-commerce activities throughout the city.

The online newspaper cited the department's director Vũ Mạnh Cường as saying that to further strengthen tax management of e-commerce, the department would continue to apply information technology and build an e-commerce database to support tax officials in accessing taxpayer identification information.

In addition, the department would strengthen communication methods and electronic support for tax filing and payments and aim to establish virtual tax agencies and virtual tax support units on e-commerce platforms to maximise electronic tax filing, he said.

Bizhub





NEWS SAME CATEGORY

Lower lending rates stimulating demand for home loans

Banks competing over new lending rates under 6 per cent per year have stimulated a resurgence in demand for housing credit.

Lack of transparency holds back insurance

Sales of newly issued investment-linked insurance policies have plummeted considerably, reflecting broader challenges in the sector and highlighting the need for...

Bank warns of fraudsters impersonating employees over biometric updates

Vietcombank has warned about a new form of fraud, impersonating bank staff to support biometric updates, in order to steal banking service information.

Two State-owned insurance firms plan capital divestment to attract foreign investors

Việt Nam's two largest insurance firms, Baoviet Holdings (HoSE: BVH) and PVI Joint Stock Company (HNX: PVI), have announced plans to divest State capital.

New law tightens cross-ownership in credit institutions

Cross-ownership and manipulation in credit institutions will be tightened after the revised Law on Credit Institutions took effect from July 1, 2024.

Insurance businesses earn $4.5 billion in revenue in H1

The total insurance premium revenue has been estimated at VNĐ109.1 trillion (US$4.45 billion) in the first six months of this year, a year-on-year decrease of 3.8...

New policy on reducing credit limits to have impacts on big banks, groups

A new regulation on reducing the bank credit limit for large customers under the amended Law on Credit Institutions, will adversely affect both banks and large...

​Firms propose Vietnam gov’t stimulate demand, lower loan interest in 2024: survey

Businesses have suggested that the Vietnamese government continue cutting lending interest rates to help boost demand and expand markets to facilitate their...

NAPAS, Mastercard join forces to boost contactless payment

To support the Shopping Season promotion programme in HCM City and Hà Nội, the National Payment Corporation of Vietnam (NAPAS) in collaboration with Mastercard is...

Three simple ways to update biometric information at Vietcombank

Vietcombank is urging its clients to update biometric information early for certain online transactions starting from July 1, 2024 to avoid transaction disruptions.

Bank stocks

Insurance stocks


MOST READ


Back To Top