Online trading must pay taxes from Jan 20

According to a new circular by the Ministry of Industry and Trade, all electronic commerce websites and social networks with business activities such as opening online stalls to display and introduce goods or services will have to register with the ministry under electronic exchange floor form and pay taxes from January 20.

Online traders must sufficiently supply information about their goods and services and conduct their tax obligations as per the Tax Law. Social network operators are responsible for banning traders, who do not make registration, from posting goods or services information on their websites.

The ministry will receive and handle announcements related to e-sales at website

The Department of Industry and Trade in HCMC yesterday reported that 48.2 percent of city residents knew how to shop online and the number of online shopping has hit 20.5 percent, double it in 2011. Of these websites account for 86.4 percent and social networks account for 33.7 percent.

A survey by HCMC Statistic Office in the first quarter last year showed that HCMC led the country in e-commerce with over 80,000 websites operating in this field. Fifty percent of them are updated with goods and service information every day.

They occupy one third of the country's online trade value. Cash payment holds 90.5 percent of online transactions in the city. The rate of consumer’s distrust to goods quality sold by online shops has drastically fallen to 17.8 percent from 55 percent in 2011.

By staff writers - Translated by Hai Mien

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