Deputy Prime Minister and Minister of Finance Ho Duc Phoc said he had heard about the Temu platform and asked the General Department of Taxation to immediately collect taxes from this cross-border e-commerce platform.
On the sidelines of the group meeting this morning (October 26), Deputy Prime Minister and Minister of Finance Ho Duc Phoc discussed with VietNamNet about the issue of tax collection for electronic trading floors, including Temu.
He said he had heard about the Temu exchange and that many National Assembly members had also reported this. Immediately after, the Deputy Prime Minister called the General Department of Taxation directly and requested that the tax collection be immediately implemented with Temu.
According to the Deputy Prime Minister, the cross-border e-commerce platform Temu has just appeared in Vietnam and is also subject to tax like Google, Facebook...
Speaking by phone with the General Director of the General Department of Taxation, the Deputy Prime Minister requested the leaders of this unit to immediately and first review, issue documents urging and requesting tax declaration and payment, and immediately collect statistical data.
“The General Department of Taxation is checking the data and requesting tax declaration and payment. In case of non-payment, an inspection and handling will be organized,” informed Mr. Ho Duc Phoc.
According to the Deputy Prime Minister, there are currently 102 "cross-border" units registered to pay taxes, including many large enterprises, such as Google, Facebook, Microsoft...
The Deputy Prime Minister emphasized that the rapid development in the technology era, especially artificial intelligence AI, forces us to adapt quickly and keep up with the trends of the times.
“Even with the four general departments (of the Ministry of Finance), we are directing the establishment of groups to research artificial intelligence for application,” said Mr. Ho Duc Phoc.
Discussing the risk of domestic manufacturing enterprises “losing at home” and being crushed by cheap products on online trading floors, the Deputy Prime Minister shared that as early as 1996, when he was still the Head of the Finance Department of Cua Lo Town (Nghe An), he had an article published in the newspaper expressing his views on this issue. Specifically, it is necessary to promulgate an anti-dumping law to combat dumping and monopoly.
The Deputy Prime Minister gave an example of several cement businesses on the same street. The one with a lot of capital sells cement below cost. The one with little capital, having to borrow money from the bank, sells at a higher price but no one buys. Consumers will buy cement from the cheap seller. When this company takes over by slashing prices, it will have a monopoly in the area. Then that company raises prices without any competition.
“Domestic businesses are forced to adapt and grow. If the Ministry of Finance does not focus on developing information technology, it will fall behind,” said Mr. Phoc.
According to the Deputy Prime Minister, the budget revenue recently exceeded 940,000 billion VND in 4 years, thanks to creative solutions such as issuing electronic invoices, connecting data, lucky invoices or issuing invoices each time through sales, fighting speculation, collecting taxes on domestic e-commerce platforms, cross-border e-commerce platforms...
“We have proposed a series of solutions to avoid profiteering and tax losses. We have also launched a campaign in the entire tax sector with nearly 40,000 people writing software to compare transactions, identify suspicious transactions for evaluation and inspection. This must be creative and innovative,” said Mr. Ho Duc Phoc.
Speaking further with reporters on the sidelines of the National Assembly session, Mr. Mai Son, Deputy Director General of the General Department of Taxation, said that the agency had requested and Temu had registered for tax.
“Temu must pay taxes according to regulations like other foreign businesses and suppliers such as Facebook and Google. There are many ministries and sectors involved in this field. We must comply with the law first, then we will check, share data, and see if the declaration is correct,” said Mr. Son.
Are cheap goods on Temu guaranteed to be of good quality?
This morning, at the National Assembly's group discussion session on the socio-economic situation, delegate Hoang Van Cuong (Hanoi delegation) warned that cheap goods from cross-border e-commerce platforms flooding in could dominate the domestic market, suffocating domestic production.
“Everyone has seen that recently, Temu has been advertising very loudly. Goods sold on Temu are discounted up to 70% compared to the general price level and can attract domestic consumers to buy there.
This is a warning, a very big risk that our production will no longer have a domestic market, those cheap goods will eliminate domestic production, forcing domestic businesses and stores to close down," warned delegate Cuong.
Delegate Cuong suggested that immediate action must be taken to control this type of goods. First is to control the quality, origin and source. "Is the quality of these goods guaranteed?", Delegate Cuong wondered.
Next is to review whether the import tax exemption policy for goods under 1 million VND is still appropriate in the context of cross-border e-commerce goods flooding into and dominating the domestic market.
Finally, delegate Cuong proposed strengthening administrative control over this type of goods, instead of allowing easy import, to protect domestic production.
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Source: https://vietnamnet.vn/pho-thu-tuong-ho-duc-phoc-yeu-cau-thu-thue-ngay-voi-temu-2335784.html
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