TAX BODIES HAVE INFORMATION OF MORE THAN 53,000 SELLERS ON E- COMMERCE PLATFORMS

According to the General Department of Taxation, information on names, addresses, revenue... of more than 14,800 organizations and more than 53,000 Individuals registered to sell on e-commerce platforms,  i.e, Shopee, Lazada, Sendo... have been collected for tax management purposes.

 HUGE DATA DISCLOSED FROM TRANSACTION DATA

Information derived from the e-commerce portal at the end of 2022 shows that there are 14,875 domestic and 8 foreign organizations registered to sell vie e-commerce. The tax sector has information on more than 53,200 domestic individuals and 4 foreigners doing business through e-commerce platforms. More than 14.5 million transactions with a total value of 4,500 billion dong took happened.

Source from Website:  https://vnexpress.net/53-000-nguoi-ban-tren-san-thuong-mai-dien-tu-vao-tam-ngam-cua-nganh-thue-4569062.html

WHAT INFORMATION E-COMMERCE SHOP OWNER NEED TO PROVIDE?

- According to the law, owners of e-commerce trading floors must provide tax authorities with complete, accurate, and timely information about traders, organizations, and individuals, in whole or in part, the process of buying and selling goods and services on the floor.

- The information includes the seller's name, tax code, personal identification number, ID card, CCCD, passport, address, contact phone number, and sales revenue through the online ordering function of the floor. In addition, the floor owner must also provide information about sales through the online ordering function of the e-commerce platform.

GENERAL DEPARTMENT OF TAX HAS BEEN AND IN TAKING ACTION

- Regrettably, the information on the transaction and the value of the goods being traded are not fully commensurate with reality.  Therefore, the upcoming tax authorities will conduct risk analysis and assessment in order to deploy tax management operations in the area to each pertinent organization and individual.

- With that situation, the General Department of Taxation said that it will coordinate with the Ministry of Industry and Trade to regularly exchange information on the list of websites/apps providing e-commerce services to promptly support the owner of the e-commerce businesses in providing information according to regulations.

- Artificial intelligence (AI) is an effective tool that assists tax authorities in processing big data and giving warnings in cases of tax risks.

In addition, tax bodies will build a risk management model for organizations and individuals selling on the floor. Doing business and paying taxes go hand in hand and can occasionally lead to unneeded trouble, so if you have been or are falling into one of the cases of more than 53,000 floor owners above, please call the hotline right away to be advised and supported on the above issues by the experts of Viet Australia Auditing to ensure your most advantageous and successful business.

Viet Australia
Viet Australia Auditing Company is an independent auditing organization licensed and established in 2007 in the Socialist Republic of Vietnam.