Measures to enhance digital economy taxation management discussed
Forum discusses how to enhance management of digital economy taxation
Experts gathered at a forum in Hanoi on May 8, discussing measures to enhance tax management as e-commerce is enjoying strong growth amid the Fourth Industrial Revolution.
Experts discuss measures to enhance tax management in e-commerce businesses. (Photo: VNA)
Hanoi (VNA) – Experts gathered at a forum in Hanoi on May 8, discussingmeasures to enhance tax management as e-commerce is enjoying strong growth amidthe Fourth Industrial Revolution.
The event was held by the General Department of Taxation and the World Bank inVietnam.
According to Luu Duc Huy, Director of general department’s policy department,the tax sector has worked with authorities to manage tax collection ine-commerce businesses.
However, Huy pointed out that tax agencies have encountered variousdifficulties in collection.
The issuance of business licenses for e-commerce firms remains bewildering assome e-commerce activities are not included in the tax list, so it is hard fortax authorities to determine appropriate collection forms.
Besides, tax collection is constrained by paper invoices which are used in 90percent companies in Vietnam, while there is no law stipulating those using e-invoiceshave to share their invoice data with tax agencies. Therefore, tax authoritiesare unable to determine these firms’ revenue.
Huy said that tax collection from internet-based commercial activities viaGoogle, Facebook and YouTube also creates difficulties for agencies.
To that end, Huy called for scrupulous preparation and detailed instructions tofacilitate tax payment, and prevent negative impact of e-commerce.
A representative from the World Bank said the tax system should be developed toensure budget collection and create favourable conditions for both e-commerceand traditional businesses.
To enhance tax management, the Vietnamese Government is amending its taxmanagement law and adding many regulations on e-commerce businesses like e-taxdeclaration and e-invoices.-VNA
The taxation sector collected more than 1.14 quadrillion VND (49.46 billion USD) in tax for the State budget in 2018, equal to 107.2 percent of estimates and up 12.3 percent from 2017.
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Experts discuss measures to enhance tax management in e-commerce businesses.
