According to the General Department of Taxation under the Ministry of Finance, by early October 2024, foreign service providers such as Google, Facebook, and TikTok had contributed over VND 8.6 trillion in taxes.
In a statement released to the media yesterday, Minister of Industry and Trade Nguyen Hong Dien emphasized the need for heightened management and oversight of e-commerce activities.
The Ho Chi Minh City Department of Industry and Trade announced plans to review businesses operating on online platforms that show signs of regulatory violations.
A consultative seminar was held on October 17 in Hanoi to unveil the research titled “E-Commerce Trends in the World and Implications for EU-Vietnam Trade” amid the presence of experts, business representatives, and policy makers.
Experts said that strengthening inspections of cosmetics production and business activities and establishing legal frameworks for market oversight is seen as a critical measure to regulate the industry.
Businesses must be conscious of investing in brand building for their own products. Of course, the government and related ministries should support them with preferential policies.
The Ministry of Industry and Trade (MoIT) revealed that there were 764 violations in e-commerce with a total fine of VND12 billion (US$ 471,601) in 2023.
