March 12, 2023 | 07:30 GMT+7

Tax payments by online businesses under review

Businesses not paying taxes to be subject to fines.

Tax agencies are managing nearly 70,000 online businesses operating via 280 e-commerce platforms with a total transaction value of nearly VND5.5 trillion ($230 million), according to the General Department of Taxation.

Businesses include over 53,500 individuals and more than 16,000 organizations.

As of the end of February, the owners of 280 e-commerce platforms had provided information relating to businesses trading on their platforms via the portal of the tax department, as regulated.

Under existing regulations, e-commerce platforms are required to provide information quarterly, including on the products or services they sell and the revenue earned.

Based on this information, tax agencies will conduct reviews and ask businesses to register and pay taxes. Those found to not register and pay taxes in line with regulations will face administrative fines.

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