Tax authorities said they would review the roadmap of taxation collection and pilot tax withholding at some e-commerce sites. A new circular released by the Vietnamese Ministry of Finance has been criticized for affecting the operation of e-commerce platforms and their hundreds of thousands of sellers. Under Circular No. 40, which will take effect on August 1, e-commerce platforms are required to declare and pay tax on behalf of third-party sellers on the platforms. Sendo said the application of the Circular will require a team of tax professionals to classify taxable revenue and tax rates applied. Photo: Grab The circular on value-added tax, personal income tax, and tax administration for business households and individuals are expected to collect tax from some people who obtain income on electronic commerce platforms but for years have not paid taxes. The tax authorities have asked e-commerce and delivery companies to take responsibility for the tax … [Read more...] about Would withholding tax on e-commerce be possible?
Cambodian ministry of commerce
Illustrative photo (Source: VNA) Hanoi (VNA) – More than three tonnes of lychee from the northern province of Bac Giang has been exported to Germany via the e-commerce platform Voso . The Vietnam E-Commerce and Digital Economy Agency under the Ministry of Industry and Trade said this is the first time Vietnam’s agricultural products have been shipped to Europe through the “cross-border e-commerce” model on an e-commerce platform developed and operated by the Southeast Asian nation. Sponsored by Viettel Post, Voso launched its Voso Global last March, offering high-quality Vietnamese farm produce to consumers in foreign markets, especially overseas Vietnamese. The platform has optimised Viettel Post’s smart logistics system to deliver the fruit that satisfies GlobalGap standards to German customers. More farming products are expected to be put on the platform in the time ahead, thus serving consumers both at home and abroad. The Department of E-commerce and … [Read more...] about Vietnamese lychees reach EU consumers through e-commerce platform
Local companies sell agricultural products via e-commerce channels By Van Ly The Bac Giang lychee is now sold through Vietnamese e-commerce platforms - PHOTO: VNA HANOI - Some three tons of Bac Giang lychees were exported to Frankfurt, Germany, on June 22 through the e-commerce platform, Vo So, to be sold to overseas Vietnamese living in the city. This is the first time agricultural products are being exported to the European Union via e-commerce channels run by Vietnamese businesses. In order to operate the cross-border e-commerce flow, the e-commerce platform of the Viettel Post Company set up the Vo So Global booth last March to target overseas consumers who want to find quality products of Vietnamese origin. For this year’s Bac Giang lychee crop, aside from promoting domestic consumption, Vo So also introduced the specialty to the international market, helping overseas Vietnamese and consumers from other countries enjoy the Vietnamese lychee through … [Read more...] about Local companies sell agricultural products via e-commerce channels
Additional 88 domestically-transmitted COVID-19 cases reported Vietnam logged 97 new COVID-19 cases, including 88 domestic and nine imported, in the past six hours to 6pm on June 22, the Ministry of Health (MoH) said. Most of the new cases were detected in Ho Chi Minh City, with 63 infections, and the remainders were discovered in Bac Giang (12), Bac Ninh (6), Hung Yen (2), Nghe An (1) and Hanoi (1). By 6pm on June 22, the country had recorded a total of 12,010 domestically-transmitted infections and 1,717 imported cases. The number of locally-transmitted cases since the fourth COVID-19 wave hit Vietnam on April 27 amounted to 10,875, including 2,772 recoveries. According to the MoH’s Medical Service Administration, 5,546 patients have given the all-clear from coronavirus SARS-CoV-2 to date, while the death toll related to the disease was 69. Among active patients undergoing treatment, 377 have tested negative to the virus once, 132 twice and 141 thrice./. 12-hour … [Read more...] about VIETNAM NEWS HEADLINES JUNE 22
Vietnam records 1.35 billion USD trade deficit in first half of June Vietnam reported a trade deficit of 1.35 billion USD in the first half of June as exports reached only 12.3 billion USD – down nearly 2 billion USD compared to the latter half of May, the General Department of Customs has announced. Among items posting the strongest turnover decline included computers, electronics and parts with 1.06 billion USD, down 800 million USD; machinery and equipment with 1.1 billion USD, down 260 million USD; and telephones and components with 1.96 billion USD, down 50 million USD. Since the beginning of this year to mid-June, the nation’s trade value surpassed 288.6 billion USD. Of the sum, over 143.3 billion USD came from exports, up 30 percent year-on-year while the remainder of 145.3 billion USD was from imports, up 36 percent. That resulted in a trade deficit of 1.96 billion USD, the department said. According to trade experts, the above-mentioned trade deficit was … [Read more...] about VIETNAM BUSINESS NEWS JUNE 23
Aquatic exports to China plunge amid COVID-19 threats Vietnamese seafood exports to China in April suffered a decline of 11%, and this downward trajectory continued in May with a fall of 22%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). While major markets such as the United States and the EU have reopened and moved to increase imports of seafood products from Vietnam, China has recently tightened their inspection over frozen seafood products from other countries as part of efforts to prevent the potential spread of the SARS-CoV-2 virus. This has caused Vietnamese seafood exports to the market to experience a rapid decline over the past two months. Most notably, aquatic exports fell sharply in all major product groups, including shrimp, down 35%, other fish species, with the exception of tuna, down 23%, and pangasius, down 5%. The impact of the pandemic coupled with China's latest tight policy has led to turnover of frozen … [Read more...] about VIETNAM BUSINESS NEWS JUNE 24