Meta Group (Facebook), Google, Microsoft, TikTok, Netflix, Apple... hold about 90% of the market share of cross-border e-commerce service revenue in Vietnam.
Currently, there are 116 foreign suppliers nationwide registering, declaring and paying taxes through the electronic information portal for foreign suppliers, with a budget revenue of VND 19,774 billion. The revenue directly declared through the information portal this year alone reached VND 8,687 billion, an increase of 26% over the same period; including major e-commerce platforms such as Google, Meta (Facebook), Microsoft, TikTok, Netflix, Apple...
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| E-commerce in Vietnam has affirmed its pioneering role in the digital economy. Photo: T. Tam |
In addition, in the 11 months of 2024, organizations and individuals with e-commerce business activities also paid about 108,000 billion VND in taxes, an increase of 22% over the same period in 2023.
Over the past years, e-commerce in Vietnam has affirmed its pioneering role in the digital economy. Although the global and regional economies are still facing many challenges, Vietnam's e-commerce continues to maintain an impressive growth rate of 18 - 25% per year. In 2023, Vietnam's e-commerce recorded a growth rate of 25%, with a revenue of 20.5 billion USD. It is forecasted that in 2024, the market size will exceed 25 billion USD.
Recently, in addition to the presence of domestic retail e-commerce platforms such as Shopee, TikTok Shop, Lazada, Tiki and Sendo, the market is witnessing the arrival of cross-border platforms such as Temu, Shein... These platforms are also subject to declaration and tax payment as foreign suppliers.
To tighten management, one of the solutions implemented by the tax sector is to connect and share data with ministries and branches. Tax authorities also use artificial intelligence to control revenue and sales on e-commerce platforms.
This December, the tax authority will also continue to promote e-commerce tax management such as launching an e-commerce portal to serve tax declaration and payment for individuals with e-commerce business activities.
In addition, continue to review the tax law compliance of foreign suppliers when conducting cross-border service business activities in Vietnam. At the same time, continue to collect information and data on organizations and individuals doing business on digital platforms for management and conduct inspections and examinations if signs of tax law violations are detected...
Source: https://congthuong.vn/cac-san-thuong-mai-dien-tu-lon-dang-nop-bao-nhieu-tien-thue-363409.html
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