How to manage taxes?

On the afternoon of June 1, the Government Office held a regular press conference. At the press conference, reporters asked a representative of the Ministry of Finance about the recent series of livestream sales with revenue of billions of dong. "Please tell us how to manage tax losses from these livestream sales?", the press asked.

Responding to this issue, Deputy Minister of Finance Nguyen Duc Chi said that when livestreaming to sell products online - that is, this activity has generated revenue, and can generate income.

"Once revenue and income arise, they must be subject to tax laws and regulations as well as supervision and management by tax authorities," said Mr. Chi.

According to Mr. Chi, for e-commerce activities in general or livestream sales online, the Ministry of Finance has implemented management and supervision according to two taxes.

For individuals, if revenue and income arise, they are subject to income tax, which is regulated by the Personal Income Tax Law. “We manage and collect taxes on this activity according to the Personal Income Tax Law,” said Mr. Chi.

If a business household has e-commerce or livestream activities that generate revenue (called commission), it must manage and collect taxes according to regulations related to business household management (in the form of contract or tax declaration).

Deputy Minister of Finance Nguyen Duc Chi answered at the press conference.

Deputy Minister Nguyen Duc Chi said that e-commerce and livestream sales are activities that have arisen in the process of information technology development. Recently, the tax authority has focused on communicating with all participants to clearly understand tax regulations.

From there, self-declaration and tax payment are carried out in accordance with the provisions of law. In addition, the tax authority also monitors and inspects this activity with individuals and business households.

Mr. Chi said that through strengthening tax management for e-commerce activities, the tax sector has achieved many positive results in tax management for e-commerce activities, including tax management for livestream sales.

Specifically, tax management data in the last two years has recorded tax collection results from organizations and individuals with e-commerce business activities. Accordingly, in 2022, tax management revenue was VND 3.1 quadrillion (USD 130.57 billion), with tax paid being VND 83,000 billion. In 2023, management revenue was VND 3.5 quadrillion (USD 146.28 billion), with tax paid being VND 97,000 billion.

In addition, the results of the inspection, examination and handling of violations accumulated in 3 years (2021, 2022 and 2023), the total number of organizations and individuals doing e-commerce business under review is 31,570 (enterprises are 6,257, individuals are 25,313). Here, the total number of cases of declaration, tax payment, tax collection, and violation handling is 22,159 business establishments (enterprises are 543, individuals are 21,616) with an additional tax amount of 2,900 billion VND .

Source: https://www.nguoiduatin.vn/livestream-ban-hang-voi-doanh-thu-hang-ty-dong-quan-ly-thue-the-nao-a666436.html