The Ministry of Finance proposes to exempt import tax for items transacted through e-commerce beneath VND 1 million

Not too long ago, the Ministry of Finance has despatched an official dispatch to seek the advice of ministries and branches for feedback on the draft Decree on administration of import and export items transacted by e-commerce. At the moment, e-commerce is growing strongly on the earth and in Vietnam, the Ministry of Finance stated. By means of monitoring by customs authorities, the variety of items transacted through e-commerce has grown quickly, particularly in the course of the epidemic interval and on holidays and reductions.

Based mostly on the statistics of the customs authority, within the first 6 months of 2020, the amount of products transacted through e-commerce by customs clearance procedures on the Specific Customs Sub-Division of the Hanoi Customs Division. reached a turnover of 1.025 billion USD.

Items in e-commerce transactions are primarily shopper items, small worth items and are at present primarily transported by courier firms, cleared procedures and delivered to prospects for buy.

Nevertheless, the present coverage doesn’t stipulate customs procedures for items transacted through e-commerce. One of many excellent contents within the draft is the tax coverage for items traded by this channel.

With a purpose to guarantee customs administration and in addition facilitate transactions through e-commerce, the Ministry of Finance proposes to exempt import tax for imported items with customs worth in keeping with every order. from 1 million VND or much less.

At the moment, Decree 18/2021/ND-CP stipulates that items despatched through postal or specific supply companies with a customs worth of VND 1 million or much less are exempt from import tax. Nevertheless, the decree doesn’t have particular rules on the variety of occasions or particular shipments to be exempt from tax. This results in the phenomenon that customs declarants make the most of this coverage to separate shipments to keep away from tax.

Subsequently, to be just like items despatched through postal and courier companies, the Ministry of Finance proposes to exempt import tax for imported items with customs worth in keeping with every order from 1 million or much less. Imported items with a customs worth of over 1 million dong per order are additionally exempt from tax if the entire quantity of import tax is lower than 100,000 dong. Nevertheless, every group and particular person can solely buy items Tax free for not more than 1 order/day and four orders/month.

In case imported items transacted through e-commerce have a customs worth of over 1 million dong in keeping with their orders and the entire payable import tax quantity is over 100,000 dong, they need to pay import tax on the whole worth of products. imported items.

As well as, within the draft Decree, the Ministry of Finance additionally proposes to exempt specialised administration and inspection of 1 order/day and not more than four orders/month for imported items transacted through e-commerce flooring of excessive worth. The worth of orders for every merchandise within the order is from 1 million VND or much less or 5 million VND for single imported items (apart from quarantine items, items beneath the administration of the Ministry of Tradition, Sports activities and Tourism). calendar).

In keeping with the Ministry of Finance, e-commerce has grown strongly on the earth and Vietnam will not be out of the pattern. The E-commerce Affiliation on the Vietnam E-commerce Index (EBI) report assessed that the typical annual progress price of Vietnam was 25-30% within the final 5 years. If this progress price is maintained, the dimensions of Vietnam’s e-commerce market by 2025 would be the third in Southeast Asia after Indonesia and Thailand.

Quynh Anh

Enterprise and Advertising