Tax administration on e-commerce strengthened for suppliers
Photo courtesy of taxservices.com.vn.
The General Department of Taxation on November 14 issued a letter guiding owners of e-commerce trading platforms to provide updated company information from the start of 2023.
1. Guidance on providing information for e-commerce owners
The General Department of Taxation (GDT) issued Official Letter No. 4205/TCT-DNNCN on guiding owners of e-commerce trading platforms (e-commerce owners) to provide information as prescribed in Paragraph 7, Article 1, Decree 91/2022/ND-CP dated October 30, 2022 with the main contents as follows:
Information deadlines: The first period is Q4/2022 with the deadline being January 31, 2023. For subsequent quarters, the deadline is the last day of the first month of the following quarter.
Information to provide: Sellers' name, tax code or personal identification number or identity card or citizen identification or passport, address, phone number. For e-commerce platforms with online ordering functions, in addition to the above general information, they are also required to provide information about online sales. In case of failure to provide information as prescribed, penalties will be imposed according to Article 19, Decree 125/2020/ND-CP dated October 19, 2020.
Method of providing information: Via E-commerce Portal at website https://thuedientu.gdt.gov.vn. The portal is expected to be activated from December 2022.
Local tax departments shall review and produce a list of taxpaying traders and organizations established and operating under Vietnamese laws as e-commerce owners.
The tax departments shall update the list of e-commerce platforms on the E-commerce Portal to monitor and expedite the provision of information of e-commerce platforms.
2. Announcement of the list of Overseas Suppliers registered for tax in Vietnam
On November 19, 2022, the GDT issued Announcement No. 357/TB-DNL on the list of Overseas Suppliers registered to declare and pay tax in Vietnam. According to this announcement, there are already 39 Overseas Suppliers registered for tax in Vietnam so far.
*Please contact KPMG for further consultation during the implementation of the GDT’s guidance.
- Related News
- Read More
MBBank records 18% profit growth in H1, among top earners in Vietnam's banking system
Hanoi-based MBBank (MB) posted a pre-tax profit of VND15.89 trillion ($606.43 million) in H1/2025, up 18% from a year earlier and meeting half of its full-year target.
Banking - Thu, July 31, 2025 | 8:06 am GMT+7
Vietnam's leading developer Novaland divests from series of major projects
Novaland, a major real estate developer in Vietnam, said it had completed the transfer of a 49% stake in its subsidiary Gia Duc Real Estate Co. Ltd., in a deal worth nearly VND1.73 trillion ($65.98 million) in June.
Real Estate - Thu, July 31, 2025 | 8:00 am GMT+7
Two Vingroup subsidiaries to sign $180 mln contractor for commercial complex in Hanoi
Vietnam Exhibition Fair Center JSC (VEFAC), a unit of conglomerate Vingroup (HoSE: VIC), has secured board approval to sign a contractor agreement with fellow subsidiary Vincons Construction Investment and Development JSC to develop a cultural, service and commercial complex in Hanoi’s Giang Vo ward.
Real Estate - Wed, July 30, 2025 | 4:29 pm GMT+7
Vietnam's state utility EVN posts $314 mln in post-tax profit after long period of losses
State-owned giant Vietnam Electricity (EVN) made a remarkable turnaround in 2024, recording a post-tax profit of more than VND8.24 trillion ($314.2 million), ending a prolonged period of losses.
Companies - Wed, July 30, 2025 | 2:03 pm GMT+7
Masan’s beverage chain Phuc Long books nearly 64% profit growth on strong food sales
Phuc Long Heritage JSC, a beverage subsidiary of retail giant Masan Group (HoSE: MSN), posted a net profit of VND86 billion ($3.28 million) in the first half of this year, up 63.5% year-on-year, according to its parent firm’s financial statement.
Companies - Wed, July 30, 2025 | 1:51 pm GMT+7
Vietnam's pharma major Bidiphar achieves 60% of year's profit target after 6 months
Binh Dinh Pharmaceutical Medical Equipment JSC (Bidiphar) reported revenue of VND916 billion ($34.98 million) and pre-tax profit of VND202 billion ($7.71 million) in H1/2025, fulfilling 46% and 60% of the year's respective targets.
Companies - Wed, July 30, 2025 | 11:36 am GMT+7
Vietnam earns $3.7 bln from steel exports in H1, down 22.5%
Vietnam raked in $3.7 billion from exporting 5.66 million tons of steel in the first half of 2025, down 13% in volume and 22.5% in value year-on-year.
Economy - Wed, July 30, 2025 | 10:30 am GMT+7
Challenges mount for Vietnam’s Century Synthetic Fiber Corporation
Ho Chi Minh City-based Century Synthetic Fiber Corporation is facing a myriad of difficulties as it has failed to raise capital, while hundreds of billions of VND (VND100 billion = $3.82 million) in project-related debt near maturity.
Companies - Wed, July 30, 2025 | 9:11 am GMT+7
Vietnam’s Long Thanh may enter global mega airports club next decade: report
Long Thanh International Airport, under construction in Vietnam’s southern province of Dong Nai, is expected to join global mega airports capable of handling at least 100 million passenger arrivals annually by the next decade, a report said.
Infrastructure - Wed, July 30, 2025 | 9:00 am GMT+7
Vietnam's agri major BAF enjoys skyrocketing 444% profit growth in Q2
BAF Vietnam Agriculture JSC, which owns the "Vegetarian Pig" brand, posted impressive business results in Q2/2025 amid a volatile pork market, with after-tax profit soaring 444% year-on-year.
Companies - Wed, July 30, 2025 | 8:00 am GMT+7
Vietnam benchmark VN-Index’s plunge opens up buying opportunities: expert
The 4.11% drop of the VN-Index on Tuesday after hitting an all-time high is "reasonable" and "could set a new price base for incoming capital flows", said Tran Hoang Son, director of market strategy at VPBank Securities (VPBankS).
Finance - Wed, July 30, 2025 | 12:24 am GMT+7
Central Vietnam province okays Hoa Phat's $393 mln railway track project
The Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority on Tuesday gave in-principle approval to a $393 million rail track and special steel project by Hoa Phat Dung Quat Rail and Special Steel JSC, a subsidiary of steel giant Hoa Phat.
Industries - Tue, July 29, 2025 | 5:19 pm GMT+7
Vietnam benchmark VN-Index plunges 64 points after historic peak
The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), plummeted by 64.01 points, or 4.11%, to close at 1,493.41 on Tuesday due to a sharp and broad-based sell-off, just one day after hitting an all-time high.
Finance - Tue, July 29, 2025 | 4:56 pm GMT+7
US semiconductor manufacturer Coherent inaugurates its third Vietnam facility
Coherent Corp., a leading semiconductor producer in the U.S., on Monday inaugurated its third Vietnam factory, located in the southern province of Dong Nai.
Industries - Tue, July 29, 2025 | 3:42 pm GMT+7
Trung Nam Group’s solar power unit reports $5.3 mln in 2024 after-tax profit
Trung Nam Thuan Nam Solar Power Co., Ltd., a subsidiary of Vietnamese private conglomerate Trungnam Group, has announced a strong financial recovery in 2024, with an after-tax profit of VND138 billion ($5.28 million).
Companies - Tue, July 29, 2025 | 1:30 pm GMT+7
Southern Vietnam port operator Phuoc An posts heavy loss as forecast
Dong Nai province-based Petrovietnam Phuoc An Port Investment and Operation JSC (UPCoM: PAP) reported a post-tax loss of over VND125 billion ($4.78 million) in Q2/2025, its highest quarterly loss to date, due to revenue falling short of covering cost of goods sold and financial expenses.
Companies - Tue, July 29, 2025 | 10:37 am GMT+7
- Travel
-
Indian billionaire to visit Vietnam’s Ha Long Bay with 4,500 employees
-
Vietnam in talks on visa exemptions with 15 countries to boost tourism
-
Foreign businesses in Vietnam urge relaxation of visa, work permit requirements
-
AI can be a game changer for Vietnam tourism
-
Google Doodle honors world's largest cave Son Doong
-
Vietnam allows import of Chinese aircraft under new rule
