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Update news e-commerce
Vietnam’s digital economy is predicted to continue growing with a CAGR (compound annual growth rate) of 31 percent with value reaching $49 billion by 2025, according to a report about e-commerce.
Live selling is a trend that has gained popularity in Southeast Asia in recent years as a way for businesses to sell their products or services directly to consumers, according to a report conducted by Ninja Van Vietnam.
E-commerce tax from businesses and sellers will continue to be collected in 2023 as part of ongoing efforts to ensure cross-border giants declare profits and pay their taxes.
A representative of the Vietnam E-Commerce Association revealed three obstacles in the way of e-commerce platforms that make it impossible to pay tax in sellers' stead.
According to Vietnam E-Business White Paper 2022, the online marketplace is an important distribution channel in the digital era.
When the technical infrastructure and capacity were upgraded to meet the demand, the regulations about issuing e-invoices from cash registers must then be made compulsory together with the introduction of punishments for violations.
The two-year pandemic changed Vietnamese shopping habits and boosted e-commerce.
E-commerce start-ups are becoming more and more popular and are considered relatively safe in the fields of innovative start-ups in Vietnam today.
Relevant ministries and agencies will tighten management and supervision of e-commerce to discover violations and prevent tax losses in 2023.
The government is ordering the improvement of the operation of the Vietnam National Single Window, which facilitate enterprises to conduct all procedures online, and which is connected with the ASW.
Vietnamese purchases of goods online and the value of online orders both increased significantly in 2022, according to market analysis firms.
Positive signs of growth for cross-border e-commerce could enhance Vietnamese brand value.
The Ministry of Finance reported that revenue from e-commerce activities through organisations in Vietnam declared and paid on behalf of contractor tax since 2018 has reached nearly VND5.6 trillion (US$233.3 million).
Viet Nam's e-commerce revenue in 2022 maintained an increase of about 15 per cent compared to last year, according to the Viet Nam E-commerce Association (Vecom).
The e-commerce boom has opened up great opportunities. Not only large corporations but small enterprises and sellers now can sell their products to the world market.
By offering many promotions, food delivery apps can quickly gain market share, but they also end up creating unsustainable growth.
Tax revenues from e-commerce activities have risen over the years, but they are still far behind the industry’s expansion rate, the Ministry of Finance reported.
An e-commerce week will be held from November 28 to December 4 while Vietnam Online Shopping Day - Online Friday 2022 is scheduled to last from December 2-4, according to the Ministry of Industry and Trade (MoIT).
By 2030, Vietnamese goods will be put on shelves of traditional and online distribution chains in all countries which had free trade agreements with Vietnam.
International customers can easily buy many Vietnamese traditional products via e-commerce platforms.