ANTD.VN - Prices of many online products imported through e-commerce platforms will increase when import tax and value added tax are imposed.
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Prices of imported goods worth less than 1 million VND via e-commerce platforms are expected to increase. |
From today (February 18, 2025), imported goods via e-commerce platforms with a value of less than 1 million VND are no longer exempt from import tax and value added tax, according to Decision 01/2025 dated January 3, 2025 of the Prime Minister.
Accordingly, many opinions say that cross-border sales prices on the platform will increase due to the additional 10% VAT and import tax, and customers will be the ones paying for this increase.
However, it is possible that Chinese sellers will try to reduce costs or accept a reduction in profits to retain customers.
Mr. Hoang Ninh - Deputy Director of the Department of E-commerce and Digital Economy (Ministry of Industry and Trade) said that this regulation could make the price of goods imported from outside the country into Vietnam no longer attractive because the price is too competitive.
“This will encourage consumers to consider imported goods more carefully when shopping, thereby increasing demand for domestic goods, especially products of equivalent quality. This is an opportunity for domestic enterprises to improve their competitiveness and enhance product quality,” said Mr. Hoang Ninh.
According to Mr. Hoang Ninh, this regulation will help increase state budget revenue, while limiting the abuse of tax exemption policies to import poor quality goods or commit commercial fraud...
The General Department of Customs also said that the new regulation aims to ensure fairness between imported goods and domestically produced and traded goods.
This agency calculated that if the 10% tax rate is applied to the same amount of goods as last year, it is estimated that this year's state budget revenue could increase by about VND2,700 billion.
Metric's 2024 Online Retail Market Overview Report and 2025 Forecast shows that 2024 will witness strong growth in imported goods with more than 324.1 million products imported into Vietnam, generating VND 14,200 billion in revenue, up 37.9% and 42.9% respectively over the same period.
In 2024, the low-cost segment under VND 200,000 recorded strong growth in both sales and market share, increasing by about 3.7% market share.
Source: https://www.anninhthudo.vn/ap-thue-voi-hang-nhap-khau-duoi-1-trieu-qua-san-thuong-mai-dien-tu-gia-hang-online-se-tang-post603758.antd
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