Tax authorities hold full data of online vendors from 2022

June 28, 2021 | 21:39

(0) user say

Local tax authorities will have full access to data pertaining to the revenue of vendors on online platforms from 2022.

Tax authorities hold full data of online vendors from 2022

The General Department of Taxation will have a direct connection to e-commerce sites to supervise vendor activity

The General Department of Taxation (GDT) has released a roadmap yesterday (June 27) to link the databases of e-commerce sites to its own online system so that it can supervise the operations of individuals and household businesses operating on these platforms.

From now until August 1, the GDT will partner up with the Ministry of Industry and Trade to inspect some e-commerce platforms to develop a base to connect these databases to the GDT system.

From August 1 to October 1, the GDT will gather opinions from the business community regarding the means of connection and submit a comprehensive report to the government to facilitate the issuance of a new regulation on the standards of connection.

After that, until the end of this year, the GDT and e-commerce sites across the country will work together to upgrade and connect their systems to the GDT system.

From January 1, 2022, the databases of e-commerce platforms will be officially connected to the GDT.

The GDT required the Vietnam E-commerce Association and other e-commerce companies to send feedback and specific proposals regarding the roadmap by July 3.

The roadmap was released to ease e-commerce companies’ difficulties in complying with the latest Circular No.40/2021/TT-BCT requiring them to pay tax on behalf of their individual and household vendors.

By Van Anh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional