Topic: e-commerce platforms

Total sales revenue of the top four e-commerce platforms in Vietnam up around 43% year-on-year.

The Vietnam E-commerce Association (VECOM) has said that the operation of e-commerce platforms remains quite difficult and requires major investment and high operating costs, with most posting losses. It therefore proposed to the General Department of Taxation and State management agencies that cost and compliance burdens be minimized and conditions created for the development of e-commerce platforms.

A representative from the General Department of Taxation has said that business individuals declaring and paying taxes through e-commerce platforms is the optimal solution in effective tax management, contributing to reforming administrative procedures and reducing the number of tax declarations.

In the August rankings from Viettel’s Information Monitoring and Analysis System on the network environment (Reputa), Shopee continued to hold top position among e-commerce platforms on social networks. Vietnam’s e-commerce market is growing rapidly and is forecast to reach $39 billion by 2025.

Vietnam is one of the first countries in Southeast Asia to successfully implement national tax rights for foreign enterprises conducting cross-border e-commerce. After more than five months of operating a portal for foreign suppliers, 30 companies voluntarily declared and paid taxes of more than VND520 billion ($22 million). To continue to strictly control taxes in this area, the General Department of Taxation is building a portal to receive information from e-commerce platforms.