The tax authority has managed around VND 1.77 quadrillion ($72.5 billion) in revenue from organizations and individuals engaged in e-commerce, with approximately VND 78 trillion in taxes paid, reflecting a 38% increase compared to the same period last year.

Following the directives of the Government and the Ministry of Finance, the General Department of Taxation has issued several key instructions from the beginning of 2024, requiring tax departments in provinces and cities to closely monitor tax-paying entities and enhance data analysis of the e-commerce (e-commerce) sector.

Through synchronized and proactive measures, the tax sector has achieved significant progress in managing taxes related to e-commerce activities.

By the end of August 2024, 404 e-commerce platforms had provided information on the e-commerce portal, an increase of 43 platforms compared to the end of 2023. The tax authority has managed around VND 1.77 quadrillion in revenue from organizations and individuals involved in e-commerce activities, with approximately VND 78 trillion in taxes paid, marking a 38% increase compared to the same period last year.

Additionally, the General Department of Taxation has effectively operated the electronic information portal for foreign suppliers. To date, 106 foreign suppliers have registered and been issued tax identification numbers through the electronic information portal. During the first eight months of 2024, foreign suppliers declared and paid over VND 6.234 trillion in taxes, equivalent to 124% of the same period in 2023.

The rapid growth of e-commerce in Vietnam has created significant opportunities for increasing state budget revenue. However, it has also introduced new challenges in tax administration, particularly in ensuring comprehensive management of revenue sources and tax-paying entities. To address these challenges and effectively tap into the tax potential of this sector, the General Department of Taxation has been implementing robust and comprehensive tax management solutions for e-commerce activities.

Quoc Tuan