The Ho Chi Minh City Department of Information and Communications has ordered online game businesses to pause providing their services to all public internet shops from 10pm to 8am on following day. Young people play online games at an internet shop in Ho Chi Minh City. In a request sent Thursday to online game companies and internet service providers, the department also instructed online game runners stop selling their games to those shops, that is located below 200 meters far from primary, secondary as well as high schools. … [Read more...] about Online games cut off from 10pm
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Probe into online weapons trading ordered
Prime Minister Nguyễn Xuân Phúc has asked the Ministry of Public Security to examine and prevent the online trading of weapons, which is threatening national security and social security. Illegally traded weapons seized by Hải Phòng City Police. —Photo nld.com.vn The Prime Minister’s request follows an article published in Người Lao Động (The Labourer) newspaper on November 21, 2017, stating that the trade of weapons online was reaching an alarming rate.Statistics from the General Police Department under the Ministry of Public Security showed that over 9,200 cases involving weapons and explosive materials were reported across the country from 2012 to June 2017, the newspaper said.The sale of weapons had become more explicit and complex, especially on social websites.From July 1 to August 26 this year, nearly 92,500 interactions, including posts, comments, shares and likes related to the sale of arms were recorded. In … [Read more...] about Probe into online weapons trading ordered
Customers compare market prices before shopping online
Customers compare market prices before shopping online Minh Tam HCMC - Seven out of ten online shoppers have the habit of visiting some stores to compare prices before making purchase decisions, according to a survey on the habits of online shoppers in Vietnam. The survey with 500 respondents has been conducted by market technology company Criteo and market research firm Euromonitor. According to the survey, 87% of respondents say they visit stores to experience products and services first-hand alongside conducting online research before making a purchase for the purpose of finding the best deals. Alban Villani, Criteo’s commercial director for Southeast Asia, Hong Kong and Taipei, said half of Vietnamese consumers still prefer buying products from local sites to foreign sites due to quick deliveries and lower prices. Therefore, traditional retailers should grasp the opportunity to open e-commerce sites with mobile versions available to better serve customers. The survey … [Read more...] about Customers compare market prices before shopping online
Hanoi exchange applies online trading method
Hanoi exchange applies online trading methodBy Thu Thuy - The Saigon Times DailyHCMC – The Hanoi Stock Exchange will apply the online trading method today to cut transaction time and increase liquidity of the northern market, according to a statement on the bourse’s website.The time it takes to transfer an order to the exchange’s system will be shortened by seven to ten times, says the Hanoi exchange. The new method will also ensure stability, safety for data, and decrease mistakes in entering orders by the human factor.Ninety three securities companies registered to apply online trading with the northern bourse and 45 of them met standards required by the exchange. However, the Hanoi Stock Exchange will carry out online trading with 15-20 securities companies to start. The exchange will review the operation and then deploy it with all brokers after Tet.The online trading method has been applied by the Hochiminh Stock Exchange since early last year, helping to … [Read more...] about Hanoi exchange applies online trading method
Hanoi Stock Exchange begins online transactions
Hanoi Stock Exchange begins online transactionsBy Song Thu - The Saigon Times DailyHCMC – The Hanoi Stock Exchange (HNX) yesterday launched online transactions with selected securities companies.“Investors can input directly and quickly thanks to the online transaction system,” said a broker of Ho Chi Minh City Securities Corporation (HSC).An agency manager of a securities company in HCMC said order matching was as fast as on the Hochiminh Stock Exchange with orders matching immediately. “Surely, trading volume at Hanoi Stock Exchange will increase strongly,” he said.Tan Viet Securities Incorporation (TVSI) said HNX would connect with about 20 securities companies and then with all of them after Tet.Some of the companies doing online transactions yesterday were Viet Dragon Securities Corporation, Thang Long Securities Joint Stock Company, Tan Viet Securities Incorporation, Bao Viet Securities Company, Kimeng Vietnam Securities J.S.C., Hochiminh Securities … [Read more...] about Hanoi Stock Exchange begins online transactions
Facebook online seller pays VND9.1bn tax arrears
The Ho Chi Minh City Taxation Department has collected VND9.1bn (USD400,100) in tax arrears from a Facebook account that sells cosmetics online. Illustrative photo According to the department, they are collecting VND10.8bn of tax arrears from two online sellers, one of which had to pay up to VND9.1bn.After receiving reports about a wrongful declaration, the local taxation department collected the information and data from the banks which showed the total income of one of the sellers was VND400bn more than they declared. The seller made the correct tax payment to avoid police prosecution.The second seller had to pay VND1.7bn (USD74,700) in tax arrears.The department had also previously collected VND8.7bn (USD382,500) of tax arrears from two online firms.In June, HCM City Department of Taxation collected a list of 13,469 Facebook accounts which are doing online business which they believe liable for tax. While some people dodged the authorities, many have registered business … [Read more...] about Facebook online seller pays VND9.1bn tax arrears
Lazada returns with wilder Online Revolution
Is this the first time Lazada and a Vietnamese bank have co-operated on payment services?We strike partnerships with other banks all the time to facilitate our promotions. For example, we managed to carry out a 10 per cent price deduction on orders paid through VietinBank accounts. However, regarding international arrangements, this is indeed the first time Lazada co-operates with a Vietnamese bank. What benefits could this partnership offer in terms of payment methods?More than 90 per cent of our customers pay by cash on delivery (COD), so now we attain a new mechanism for Vietnamese customers to pay via cash for cross-border goods. Especially, during the December 11-14 mega sales, customers will be given more payment options than only Visa and MasterCard. Lazada will be the first online shopping website that enables customers to purchase cross-border products with the COD method.Since the COD payment method could pose a threat to our website and damage our suppliers, we decided to … [Read more...] about Lazada returns with wilder Online Revolution
HCMC taxman eyes online vendors
HCMC taxman eyes online vendorsVan Nam HCMC – The tax authority of HCMC has collected VND21 billion (nearly US$925,000) in tax from online stores while asking nearly 14,000 individuals and organizations selling goods on Facebook to fulfill their tax obligations, heard a meeting of the city government on December 6. Tran Ngoc Tam, head of the HCMC Department of Taxation, said e-commerce has grown more popular, with the participation of many local and foreign vendors. However, Vietnam is still struggling to tax online stores. Data of the HCMC Department of Industry and Trade shows that as of September 2017, the city had nearly 300 electronic trading platforms, more than 8,000 e-commerce sites, and 73 social networking sites. Particularly, there are nearly 14,000 individuals and organizations in the city selling goods on Facebook, one of the most popular social networking sites in the country. “The HCMC Department of Taxation has collected VND21 billion in tax from … [Read more...] about HCMC taxman eyes online vendors
Saigon tax man slaps Facebooker with $400,000 bill in rare online retail management victory
Ho Chi Minh City's tax department has handed a bill of VND9.1 billion ($401,300) to a Facebook retailer in a rare successful attempt to levy sales on social media.A source from the department said that the tax declaration submitted by the cosmetics retailer was millions of dollars short compared to information acquired from the retailer's banks.Le Thi Thu Huong, deputy director of the department, said the sum was the biggest amount ever to be claimed by her agency from an online retailer for tax evasion.The department contacted nearly 13,800 Facebook accounts earlier this year asking them to pay tax for businesses they were running on the social network, but few complied.Facebook is the most popular social network in Vietnam with more than 52 million active accounts, and is also used as an e-commerce platform that tax authorities have struggled to keep track of.Vietnam levies a 0.5 percent income tax and a 1 percent value added tax on sales of more than VND100 million ($4,400) per … [Read more...] about Saigon tax man slaps Facebooker with $400,000 bill in rare online retail management victory
HCM City taxman eyes online vendors
The tax authority of HCMC has collected VND21 billion (nearly US$925,000) in tax from online stores while asking nearly 14,000 individuals and organizations selling goods on Facebook to fulfill their tax obligations, heard a meeting of the city government on December 6.Tran Ngoc Tam, head of the HCMC Department of Taxation, said e-commerce has grown more popular, with the participation of many local and foreign vendors. However, Vietnam is still struggling to tax online stores. Data of the HCMC Department of Industry and Trade shows that as of September 2017, the city had nearly 300 electronic trading platforms, more than 8,000 e-commerce sites, and 73 social networking sites.Particularly, there are nearly 14,000 individuals and organizations in the city selling goods on Facebook, one of the most popular social networking sites in the country.“The HCMC Department of Taxation has collected VND21 billion in tax from online stores and written to nearly 14,000 vendors on … [Read more...] about HCM City taxman eyes online vendors