General Department of Taxation: Temu has registered for tax in Vietnam

ANTD.VN - The General Department of Taxation announced that Temu has been registered for tax purposes by its owner through the General Department of Taxation's electronic portal for foreign suppliers.

Currently, public opinion is concerned about tax management for some newly emerging cross-border e-commerce platforms that have been advertised on social media platforms recently, such as Temu.

Regarding this matter, the General Department of Taxation stated that on September 4, 2024, the Temu e-commerce platform was registered for tax purposes by its owner, Elementary Innovation Pte. Ltd., through the General Department of Taxation's electronic portal for foreign suppliers. Temu was assigned tax code number 9000001289.

Regarding the deadline for filing and paying taxes, the General Department of Taxation stated that, according to Circular No. 80/2021/TT-BTC, Temu will begin filing tax returns from the third quarter of 2024 (the deadline for filing the tax return for the third quarter of 2024 is October 31, 2024) for revenue generated from the time it started operating in Vietnam.

Therefore, according to regulations, taxable revenue is expected to be generated in October 2024 and will be declared in the fourth quarter of 2024, with a deadline of January 31, 2025, if the company is granted an operating license by the Ministry of Industry and Trade.

Temu has registered for tax in Vietnam but has not yet been licensed by the Ministry of Industry and Trade.

The General Department of Taxation affirms that, according to the provisions of Government Decree No. 52/2013/ND-CP dated May 16, 2013 on e-commerce (amended and supplemented by Decree No. 85/2021/ND-CP), e-commerce platform business activities require licensing and are subject to state management by the Ministry of Industry and Trade.

Regarding tax management for e-commerce and digital platform businesses, the tax authorities manage this according to the Law on Tax Administration and Circular No. 80/2021/TT-BTC. Accordingly, e-commerce platform managers are responsible for registering, self-calculating, self-declaring, and self-paying taxes directly through the General Department of Taxation's online portal.

For cross-border e-commerce businesses operating on digital platforms, if a foreign supplier generates revenue in Vietnam but has not registered for tax purposes, the tax authorities will review the situation and take appropriate measures to ensure effective, transparent, and fair tax management for traditional businesses.

In cases where a foreign supplier's revenue is inaccurate, the tax authorities will cross-check the data to determine the revenue required for the foreign supplier to fulfill their obligations and conduct inspections and audits as prescribed by law if there are signs of fraud or tax evasion.

Currently, the General Department of Taxation is continuing to assess the practical situation of tax collection management from foreign suppliers and referencing international experience to further refine the draft Law on Tax Management, the Law amending and supplementing several laws, the Law on Value Added Tax, the Law on Corporate Income Tax, and the Decree amending and supplementing Decree No. 123/ND-CP on invoices to ensure effective tax management and accurate and complete collection from foreign suppliers conducting business in Vietnam.

E-commerce platforms operating in Vietnam are subject to strict licensing and tax regulations, but taxpayers are also given maximum convenience by registering, declaring, and paying taxes through the tax authority's online portals.

At the same time, the General Department of Taxation continues to strengthen the dissemination of tax policies to all entities, especially new entities operating in Vietnam, to create the most favorable conditions for them to confidently conduct business and contribute their tax obligations to the State budget.

Source: https://www.anninhthudo.vn/tong-cuc-thue-temu-da-dang-ky-thue-tai-viet-nam-post594422.antd