Online platforms pay $166M in tax in Vietnam

Of the sum, VND3.4 trillion was paid directly via the portal of the General Department of Taxation (GDT), which was established last March to make it easier for cross-border giants to pay their taxes in Vietnam.

Their representatives in Vietnam paid the remaining sum.

The GDT also said that tax revenue from e-commerce platforms in the first five months of this year reached VND246 billion, equal to 34% of 2022’s revenue.

It said the tax revenue collected from e-commerce providers in 2022 and 2021 was VND716 billion and VND261 billion, respectively.

The tax authority has recorded data from over 330 e-commerce platforms through the e-commerce portal operating since the end of last year.

Particularly in the first quarter of this year, 64,300 individuals and 22,840 organizations traded on those platforms with 9 billion transactions registering a total value of VND11.5 trillion.

The GDT said it is working on setting up rules on exploiting information from e-commerce platforms’ databases to manage taxes more effectively.

This agency is checking and comparing information of several taxpayers who are e-commerce platform owners, payment intermediaries, partners of foreign companies in Vietnam, and foreign suppliers that do not have a fixed business establishment in Vietnam.

So far, it has inspected 15 enterprises and handled, fined, or collected tax arrears of VND129 billion, reducing tax loss by VND986 billion and reducing VAT deduction by VND114 billion.