Business

HCM City wants to tax Facebook retailers

HCM City's Department of Taxation has sought a report from its offices by the end of this month on their implementation of its instruction to collect taxes from people selling merchandise on Facebook.
HCM City wants to tax Facebook retailers ảnh 1The HCM City Department of Taxation wants to tax people selling merchandise on Facebook (Photo: news.zing.vn)

HCM City (VNA) - HCM City's Department of Taxation has sought a report fromits offices by the end of this month on their implementation of its instructionto collect taxes from people selling merchandise on Facebook.

Itplans to better monitor businesses on Facebook and other retail sites, andrequires online sellers to register their operations and declare their incomeand taxes.

Thetax offices have been told to collect information about Facebook sellers bychecking delivery companies, post offices and bank payments.

Earlierthis year the department sent notices to 13,469 Facebook sellers to pay taxes,but many have refused, saying sales were poor.

Accordingto Pham Thanh Kien, director of the city’s Department of Trade and Industry,e-commerce has been booming in the city with 80,000 active websites, half ofwhich have steady operations, but tax collection from the industry is very low.

In2015 e-commerce revenues were worth 4.1 billion USD, a five-fold rise from2012. They are expected to reach 10 billion USD by 2020, accounting for 5 percentof all retail sales. -VNA
VNA
#HCM City #Department of Taxation #Facebook #online sellers #e-commerce #tax collection #retail sales #Vietnam #Vietnamese #Vietnam news #updated Vietnam news #Vietnamplus #Vietnam News Agency Ho Chi Minh City
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