Huge loss of tax revenue for e-commerce and technology businesses
Minister Ho Duc Phuc. Photo: Government Newspaper
On the morning of June 8, the National Assembly held a question-and-answer session with Minister of Finance Ho Duc Phuc.
Answering a question about the business tax collection on the digital platform, Minister Ho Duc Phuc said: “This is a very new field, currently we are losing a lot of revenue for e-commerce and business. technology”.
Currently, when the Ministry of Finance issues a Circular on the issue of requiring e-commerce floor owners to pay taxes on behalf of floor participants, consensus is not received.
Therefore, the Ministry of Finance decided to pause to continue further research.
According to the Minister, participants in e-commerce floors in Vietnam can be foreigners, not domestic people with clear addresses to conduct collection.
According to Minister Ho Duc Phuc, in the past time, the Ministry of Finance has solved one step, which is the opening of an electronic portal for cross-border tax payment. Here, foreign businesses can declare and pay taxes to do business in Vietnam, and then conduct the inspection later. Technology corporations such as YouTube, Google, Microsoft… have fully registered and paid taxes.
Previously, in a report to the National Assembly deputies, the Ministry of Finance said that the tax revenue for cross-border goods and services is over 1,100 billion VND/year. From 2018 to the end of April 2022, these units have declared and paid taxes with a total amount of more than 5,111 billion VND. In which, some large corporations like Facebook paid 1,965 billion VND; Google paid 1,902 billion VND and Microsoft paid 651 billion VND (4,518 billion VND).
If counting the first 4 months of this year alone, the total tax revenue from cross-border e-commerce and digital services activities reached about VND 437 billion, equivalent to more than 27% compared to the revenue in 2021 (VND 1,591 billion).
For retail forms of goods such as selling via Zalo, Facebook and then receiving goods and paying in cash, the Minister said that this is also a huge loss of revenue. The Ministry of Finance is coordinating with the Ministry of Information and Communications and other ministries to fight in this area. In the future, it is necessary to build a technology system to control the automatic collection of money through the banking system. However, this problem is still in the research stage.
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