A cross-border e-commerce payment gateway proposed to boost tax oversight

A cross-border e-commerce payment gateway proposed to boost tax oversight

The law is designed to foster innovation, strengthen consumer protection and improve State management.

The draft Law on e-commerce is scheduled to be submitted to the Government for consideration in July and to the National Assembly in October. — VNA/VNS Photo Phạm Hậu

The Ministry of Finance has proposed establishing a cross-border e-commerce payment gateway led by the State Bank of Việt Nam to improve money flow traceability and enhance tax management on digital transactions.

The proposal, presented at a consultation on the draft e-commerce law in Hà Nội on Monday, also includes replacing the term 'intermediary payment services' with'e-commerce payment services', standardising reporting formats and clarifying definitions such as user accounts.

The ministry also recommended integrating data across tax, customs authorities and other national databases to eliminate regulatory overlaps and increasing coordination between management agencies.

At the consultation, Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân said that it becomes pressing to amending the law on e-commerce which last updated over a decade ago to ensure e-commerce on-track development and plays its role in the digital economy.  

Tân said that the law is designed to foster innovation, strengthen consumer protection and improve State management.

The latest draft, announced on June 22, outlines detailed regulations for online contracts, digital transactions and platform responsibilities as well as rules on order functions on e-commerce platforms.

Director of the Việt Nam E-commerce and Digital Economy Agency, Lê Hoàng Anh, said the law is scheduled to be submitted to the Government for consideration in July and to the National Assembly in October.

A representative from Shopee, one of the largest e-commerce platforms in Việt Nam said that it is necessary to have detailed regulations for international sellers. It is also necessary to require approval of the Ministry of Public Security for locally authorised representatives of foreign platforms to ensure cybersecurity and legal clarity.

Fraudulent behaviour should result in bans, not only against customers but also sellers, platforms and other stakeholders to foster a more transparent online environment.

If approved, the law is considered to mark a milestone in Việt Nam’s digital transformation with clearer legal framework for online business and pave the way for more sustainable e-commerce growth. 

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