Tax management strengthened for livestream sales

The General Department of Taxation has requested local tax authorities to review and inspect tax payment of online businesses and live sales.

The move came as e-commerce and live sales are booming in Vietnam with some livestream sellers getting online sales worth up to hundreds of billions of VND.

Livestream sales have generated revenue and potentially income that must be subject to tax laws and regulations, as well as the supervision of tax authorities, according to Deputy Minister of Finance Nguyen Duc Chi.

Speaking at a Government regular press conference on June 1, Mr. Chi said individuals who generate revenue and income from sales via livestream must pay personal income tax and a family business selling goods via livestream with revenue will pay taxes for the business household.

Tax collection from e-commerce (including livestream sales) valued VND83 trillion ($3.6 billion) and VND97 trillion ($3.81 billion) in 2022 and 2023, respectively, figures from the Ministry of Finance show.