According to the experts, all entities involved in e-commerce must strictly comply with regulations on value-added tax (VAT) and personal income tax (PIT). Failure to declare or accurately declare tax information can lead to severe consequences such as tax recovery, fines, and even criminal prosecution.

Key Points to Note

• Revenue Threshold: Individual businesses and sole proprietors with annual revenue below 100 million VND are exempt from VAT and PIT. However, once revenue exceeds this threshold, tax declaration and payment become mandatory.
• Taxpayer Responsibilities: Taxpayers are responsible for self-declaration, calculation, payment, and accuracy of declared information.
• Tax Rates: VAT and PIT rates vary depending on the type of goods, services, and business form.
• Tax Declaration for Livestreams: Both brands and livestreamers must declare and pay taxes according to regulations.

Ms. Nguyen Thi Cuc, Chairperson of VTCA, emphasized: “The rapid growth of e-commerce creates numerous business opportunities. However, participants must be aware of their tax obligations. Compliance with the law is not only a responsibility but also a condition for sustainable business operations.”

Expert Recommendations

• Thorough Understanding of Regulations: Proactively research and stay updated on tax policies related to your business.
• Accurate and Complete Declaration: Declare accurate revenue and expense figures to ensure correct tax payments.
• Utilize Accounting Software: Employ specialized accounting software to assist with financial management and tax declarations.
• Seek Professional Advice: Consult with accounting and tax experts if you have any questions.

Adherence to tax regulations not only helps businesses avoid legal risks but also contributes to a transparent and healthy business environment.