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Managing E-Commerce to Prevent Tax Loss in Vietnam

This year, the government wants relevant ministries and agencies to tighten management and increase oversight of e-commerce activities to identify violations and prevent tax losses. The Ministry of Industry and Trade’s (MoIT) E-commerce and Digital Economy Agency will work with departments from the Ministry of Information and Communications (MIC) and the Ministry of Finance to share data and better regulate business activity on social media and in cyberspace.

The inspections will also focus on ensuring that e-commerce platforms and social networks are taking proper steps to screen, prevent and block accounts that do not provide adequate information or have signs of trading in counterfeit or illegal goods.

The E-commerce and Digital Economy Agency will continue to collaborate with other government agencies such as the Market Management Agency, the Department of Cybersecurity and High-Tech Crime Prevention, the Ministry of Science and Technology, and MIC to inspect and monitor e-commerce businesses for compliance with the law, in accordance with plans approved by the Minister of Industry and Trade.

The agency will also evaluate existing policies and make practical changes to improve the management of e-commerce business activities. It will upgrade infrastructure and supporting services and incorporate new technologies to assist the digital transformation of businesses.

Furthermore, the agency will offer training to improve the inspection and handling of violations in e-commerce. It will organise events to promote anti-counterfeiting and encourage e-commerce website operators to better protect consumers’ interests.

Last year, Vietnam’s e-commerce industry continued to grow and become a significant distribution channel. As the economy recovers from the pandemic, e-commerce has been a leading sector in the digital economy. A survey from the Ministry of Industry and Trade showed that retail e-commerce revenue in Vietnam increased by 20% in 2022 as compared to 2021, reaching US$ 16.4 billion. This accounted for 7.5% of the total retail sales of goods and services in the country.

To establish trust for consumers in online shopping, safeguard legitimate traders, and foster e-commerce development, the government reviewed and requested e-commerce companies to remove or lock 1,663 stalls with 6,437 counterfeits or violated goods, and blocked five infringing websites.

Experts recommend that there should be regulations on the responsibility of information security of relevant organisations and individuals in order to prevent tax loss and protect business interests. This includes regulations on the security of websites and the responsibility to provide information to tax authorities, which would help make tax management more effective.

Associate Professor Le Xuan Truong, Director of the Academy of Finance’s Faculty of Taxation and Customs under the Ministry of Finance, suggested that the government should implement a regulation that forces e-commerce trading floors to be responsible for withholding and paying taxes on behalf of individuals as well as perform payment intermediary services and participate in operating and controlling delivery activities and receiving money from buyers. Over 40 countries worldwide so far have regulated the responsibility of e-commerce exchanges in deducting taxes of individuals if the floor provides payment services, or directly participates in the delivery and receipt of goods by buyers and sellers.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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