Tax watchdog wants to develop a portal to manage individuals and households doing e-commerce business

Aug 28th at 08:07
28-08-2024 08:07:24+07:00

Tax watchdog wants to develop a portal to manage individuals and households doing e-commerce business

The General Department of Taxation is working on developing an e-portal to manage individuals and business households which run e-commerce businesses.

A farmer in Bến Tre Province is livestreaming to sell bonsai. The General Department of Taxation is working on developing an e-portal to manage individuals and business households which run e-commerce businesses. — VNA/VNS Photo Huỳnh Phúc Hậu

It wants to create favourable conditions for them in terms of tax registration, declaration and payments.

Deputy Director Mai Sơn said that the tax management of e-commerce is currently applied along the same lines as the methods as for traditional business, leading to a number of problems.

He said that the e-portal must be developed with the spirit of supporting tax-payers to fulfil all their tax obligations in the most convenient way.

Amendments to the existing regulations will be raised to enhance the efficiency of tax management on e-commerce business.

The tax watchdog has put e-commerce business under scrutiny.

In the first six months of this year, a sum worth nearly VNĐ10 trillion (US$394 million) in tax was collected from businesses and individuals doing e-commerce business, up VNĐ3.5 trillion over the same period last year.

More than 4,560 cases were fined, collecting a total of VNĐ297 billion.

The General Department of Taxation was sharing details with the Ministry of Industry and Trade about 929 e-commerce platforms, with 53,000 sellers.

In another move, the Ministry of Finance has proposed that individuals and businesses households with tax debts might be banned from leaving the country. 

Bizhub





NEWS SAME CATEGORY

Long-term deposit interest rates reach 7.4 per cent

Interest rates for Vietnamese đồng-denominated for long term deposits at commercial banks have reached 7.4 per cent per year, according to the State Bank of Vietnam...

Reference exchange rate up at week’s beginning

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,254 VND/USD on August 26, up 4 VND from the last working day of previous...

Vietnam should learn from international experience before raising beverage tax

Vietnam has been urged to learn from other countries to prevent a shock to businesses and ensure a balance of interests before it raises taxes on alcohol.

Chinese fund latest to own more than 1 per cent stake in VPBank

China's Tianhong Vietnamese Market Equity Launched QDII Fund has become the latest shareholder to take a more than one per cent holding in VPBank.

New policy promotes green banking development in Việt Nam

The State Bank of Việt Nam (SBV) is pushing all credit institutions to go green in terms of banking and credit.

Vietnamese, Lao central banks discuss cooperation in using local currencies in bilateral trade

The State Bank of Việt Nam and the Bank of Laos are looking to explore a joint cross-border retail payment system.

SHB accompanies foreign-invested enterprises with separate policies

Saigon-Hanoi Commercial Joint-Stock Bank (SHB) is committed to creating the ideal environment for foreign-invested enterprises to scale up their operations in...

Bad debts remained a challenge for banks in H1

Banks' non-performing loans continued to grow in the first half of this year, with some banks even witnessing double-digit growth, whereas their loan loss reserve...

Foreign exchange rate cools rapidly

The foreign exchange rate in the domestic market has cooled rapidly since early this month, which could help the State Bank of Vietnam (SBV) implement a looser...

Banks to develop roadmap to comply with share ownership cap policy

Credit institutions will have to develop a roadmap to comply with the share ownership ratio regulation under the newly-issued Law on Credit Institutions.

Bank stocks

Insurance stocks


MOST READ


Back To Top