Vietnam to tighten tax management of online businessesThe Saigon Times Daily A man holds his smartphone which displays the Google home page. A draft law on tax management has added many regulations on ecommerce businesses that transact on Google and social media platforms – PHOTO: REUTERS HCMC - A draft law on tax management has added many regulations on ecommerce businesses that transact on Google and social media platforms, including building a database and launching e-taxation services such as e-tax declarations and e-invoices, heard attendees at a meeting held on August 7. The move is aimed at strictly monitoring online businesses, reported the local media. The General Department of Taxation, the Vietnam Chamber of Commerce and Industry and the Vietnam Tax Consultants’ Association (VTCA) jointly organized the meeting to collect feedback on the draft Law on Tax Management. The amendment to the law is set to deal with tax evasion by online account holders, as in … [Read more...] about Vietnam to tighten tax management of online businesses
Ecommerce manager
Tax investigation removed from draft tax management law
Tax investigation removed from draft tax management lawBy Minh Tam Customers are seen buying goods at a supermarket. Regulations on tax investigation have now been removed from the latest draft version – PHOTO: TL HCMC - Regulations on tax investigation, which were included in the draft of the tax management law last year, have now been removed from the latest version. When the Ministry of Finance proposed assigning tax investigation duties to the tax authority last November, many enterprises, experts and lawyers voiced their concerns. The Ministry of Finance wanted the tax authority to have the power to demand that agencies, organizations and individuals provide information and materials to facilitate inspections and investigations into violations of tax regulations and tax evasion. Besides this, in the previous proposal, if there is evidence of violations, heads of inspection teams should be able to seal goods, storehouses and documents and take violators into … [Read more...] about Tax investigation removed from draft tax management law
Lazada Club makes debut
Lazada Club makes debutBy Chi Thinh Participants pose for a photograph at a ceremony launching Lazada Club, managed by Lazada Vietnam - PHOTO: LAZADA HCMC – The ecommerce exchange website Lazada will launch a platform for online sellers, called Lazada Club, this weekend, aiming to help sellers receive support and share feedback, as well as run their online businesses efficiently through the website https://www.lazada.vn. Lazada Vietnam recently announced plans to establish Lazada Club as part of its strategic orientation for the year. The club will make its debut, undertaking three missions: learning, sharing and sustainable development, said Tran Xuan Thuy, Lazada Vietnam managing and developing online selling director. Addressing the launch ceremony, Thuy stated that the scale and number of sellers on the Lazada website indicated robust growth resulting from the fast growth of the local ecommerce sector, which poses a challenge to the online shopping site in … [Read more...] about Lazada Club makes debut
Grab Vietnam says GrabTaxi could expand nationwide
Grab Vietnam says GrabTaxi could expand nationwideThe Saigon Times Daily Grab Vietnam says GrabTaxi could expand nationwide - PHOTO: TL HCMC – Ride-hailing company Grab Vietnam noted in a statement that its service, GrabTaxi, has the legal right to expand throughout the country. Grab’s assertion follows the Ministry of Transport’s rejection of its proposal to expand the GrabTaxi service to the provinces of Ninh Thuan, Dong Thap and Gia Lai, local media reported. Further, according to the ministry, Grab is not permitted to work directly with taxi drivers without the approval of local transport operators and regulators. The ministry highlighted the pilot scheme for the ride-hailing business, noting that GrabTaxi is permitted to operate in five cities and provinces: Hanoi, Quang Ninh, Khanh Hoa, Danang and HCMC. However, Grab Vietnam said it had already clinched cooperation agreements with locally licensed taxi operators. The company pointed out that … [Read more...] about Grab Vietnam says GrabTaxi could expand nationwide
Local retailers urged to raise competitiveness
Local retailers urged to raise competitivenessThe Saigon Times Daily A staffer arranges goods at a Co.opMart supermarket in HCMC. Local retailers are urged to raise their competitiveness - PHOTO: THANH HOA HCMC - The penetration of large international retail firms into the Vietnamese market and the rising popularity of online shopping sites such as Shopee, Sen Do and Lazada have forced local retailers to make full use of their home-ground advantages to raise their competitiveness, according to news site Vietnamplus. Vietnam is an attractive market for investors in the retail sector, but given the intense competition, experts suggest that local retailers with a better understanding of customer habits and the local market should raise quality standards and map out detailed and effective competition strategies. According to a survey on the retail sector in 30 developing countries worldwide, conducted by consulting firm A.T. Kearney, Vietnam is one of the most attractive retail … [Read more...] about Local retailers urged to raise competitiveness
Draft law lifts banks’ role in e-commerce
The draft law, which was recently released by the Ministry of Finance (MoF) for recommendation, aims to better manage and collect taxes on e-commerce businesses, which have developed strongly in Việt Nam in recent years. Besides the tax agency, it is necessary to have close co-ordination among other relevant ministries and agencies to make tax management more effective, according to the draft law. Accordingly, the MoF has proposed that the tax department will build databases and apply electronic tax services, such as electronic tax declaration, electronic invoices and online tax payments, ensuring that 100 per cent of taxpayers will have access to these facilities to catch up with e-commerce. The State Bank of Việt Nam (SBV) will take measures to develop e-commerce payments and to ensure that cross-border services pay through payment service suppliers or licensed payment intermediary services. The MoF will co-ordinate with SBV in guiding commercial banks to deduct the tax … [Read more...] about Draft law lifts banks’ role in e-commerce
Multi-channel shopping is vital for e-commerce growth
Multi-channel shopping is on the rise, becoming a vital factor which will help retail businesses expand sales channels, thereby increasing their reach to customers and enhancing the competitive edge given the online shopping boom in Viet Nam. The application of multi-channel shopping platforms is forecast to be the core focus of retail businesses, amplifying shopping experiences for customers. — Photo ecommerce-platforms.com Multi-channel shopping (sometimes referred to as ‘omnichannel shopping’) is the practice of offering customers a variety of platforms from which they are able to purchase products, both online and offline. E-commerce in Viet Nam is growing at a rapid pace, with the presence of many e-marketplaces such as Tiki, Lazada, Shopee and Adayroi, as well as the strong development of social networks including Facebook, Zalo, Instagram, muare.vn, and lamchame.vn. Utilising these platforms should be considered a vital factor in promoting products when more … [Read more...] about Multi-channel shopping is vital for e-commerce growth
Raging competition on e-commerce market promises to heat further up
A competitive marketAfter a long time of negotiations, JD.com, a large Chinese retailer, announced pouring VND1 trillion (US$44 million) in Tiki.vn to become the domestic firm’s largest shareholder.This amount may be turned to human resources training and optimising logistics to and from its warehouses as well as to conduct a study on promoting the Tikinow service, which is Tiki’s fastest click-to-delivery service. This is expected to bring Tiki.vn back to the e-commerce race in Vietnam.Although Tiki and JD have not announced the coming strategies yet, Tiki has just opened up its marketplace, and working hard to attract sellers to their platform as well as promote delivery within two hours of placing an order.Meanwhile, Shopee has been developing fast in Vietnam after the first year of operation. A report from iPrice Group, a market research company, announced that the shopping application of Shopee Vietnam has surpassed Lazada Vietnam in the third and fourth quarter of … [Read more...] about Raging competition on e-commerce market promises to heat further up
E-commerce takes off with e-logistics
Having just come home from work, 29-year-old marketer Nguyen Thi Thuy was preparing the evening meal for her family, waiting for a package delivery. Thuy has been shopping online for the second time this week.“I can get all the packages delivered to my doorstep rather than going shopping and carrying several bags back on my motorcycle,” she said, noting that several e-commerce sites are now providing high-quality products with free shipping so she prefers shopping online, allowing her to save time as well as grab some bargains.Thuy is among the many customers who have embraced the online shopping experience with its reliable and convenient delivery. According to Kantar Worldpanel, the percentage of e-commerce shoppers grew from 5.4 per cent to 8.8 per cent of the four largest cities’ urban population, in the last year alone.In light of this trend, many foreign logistics providers and e-commerce operators cannot afford to miss the opportunity to provide e-logistics to … [Read more...] about E-commerce takes off with e-logistics
Empowering women in business to reach farther
Founder of Soul Rich Woman (SRW) network and former Miss Singapore, Genecia Alluora Luo, tells Viet Nam News reporter Phuong Uyen that her mega mission to empower Southeast Asian women to succeed in business has a simple aim: change their lives for the better.How did Soul Rich Women and female entrepreneur empowerment in Southeast Asia happen?Back in 2013, I had begun to run my own multinational cafe chain, and I knew that going into the retail business means you have to go online for recognition and effective management. And though I wanted to, I honestly did not know how.Since this involved a lot of trial and error, without a business mentor or a comprehensive source of helpful information, I felt the need to do something about it, and SRW was born. The aim was not just to help established female entrepreneurs in Southeast Asia, but also those were still working a 9-5 job but desiring to do something on the side.In the information age, to get in touch with customers, gain market … [Read more...] about Empowering women in business to reach farther