Understanding Tax Obligations for Online Fashion Retailers in Hanoi
A concerned citizen from Hanoi reached out to the tax authorities with a query: “I sell fashion items on Facebook. How do I pay my taxes? Where do I go to register and what procedures are involved?”
In response, the Tax Department clarified that according to Circular No. 40/2021/TT-BTC issued by the Ministry of Finance, individuals selling goods on Facebook or other online platforms with an annual revenue of VND 100 million or more are required to register for a tax code and declare and pay taxes.
Tax obligations can be fulfilled entirely online through the General Department of Taxation’s portal or via the etaxMobile application.
Online business owners are subject to two main types of taxes: value-added tax (VAT) and personal income tax. The applicable tax rates vary depending on the specific industry and revenue. When filing taxes, individuals can choose to declare monthly (for regular business activities) or per occurrence (for irregular activities).
The deadline for submitting monthly tax declarations is the 20th of the following month, while declarations per occurrence are due on the 10th day from the occurrence. The deadline for tax payments coincides with the deadline for submitting tax declarations. If the deadline falls on a holiday, the tax authority will extend it to the next working day.
Notably, the entire process, from tax code registration to tax filing and payment, can be completed online. This means that sellers don’t need to physically visit tax offices or stand in queues, and paper-based submissions are not required.
These streamlined procedures simplify administrative tasks for online entrepreneurs in the digital age and enhance transparency in the rapidly growing e-commerce sector.
The State Bank of Vietnam Approves Eximbank’s Request to Relocate its Head Office to Hanoi
On June 24, the State Bank of Vietnam (SBV) issued its approval for Eximbank (HOSE: EIB), one of the country’s leading commercial banks, to relocate its Hanoi-based head office.
Unlocking the Potential: Revitalizing Hanoi’s 250-hectare Ecological Sanctuary Along the Hong and Day Rivers
The Hanoi authorities have submitted a report to the Ministry of Agriculture and Environment, outlining a proposal for the development of an eco-garden project in Cam Dinh – Hiep Thuan, Phuc Tho District, spanning an area of 250 hectares.
A Leading Cemetery Park Developer Receives 38 Hectares of Land in Ba Vi, Hanoi
“The Ao Vua Joint Stock Company has been entrusted by the Hanoi People’s Committee with over 39 hectares of land for the development of the Vinh Hang Expanded Cemetery Park project, phase 2. With this significant allocation, the company is poised to create a serene and respectful final resting place for generations to come.”
Utilizing the Vacant Villa at 12 Nguyen Che Nghia as the People’s Committee Office of Cua Nam Ward: A Proposal
The long-abandoned villa at 12 Nguyen Che Nghia Street, in Tran Hung Dao ward of Hoan Kiem district, is set to find new life as the future headquarters of the Cua Nam Ward People’s Committee.
Do You Need to Pay Taxes on Money Received From Selling Real Estate?
“There is a common concern among those who have sold their properties: whether the money received in their accounts, after fulfilling their tax obligations, is subject to further taxation. This is a pressing question that requires clarification.”
