Vietnam – In an effort to monitor the country’s e-commerce operations, Vietnam is set to deploy artificial intelligence to track and manage revenue, transactions, and sales activities on online marketplace platforms.
At a recent national assembly session in Hanoi, deputies expressed concerns over issues about e-commerce platforms in the country, highlighting the rapid growth and the large number of e-commerce transactions that take place every day.
This particular issue, according to them, increases the risk for tax evasion in the country, noting that online businesses and individual sellers can easily carry out transactions that are difficult to monitor or may involve underreported earnings.
In response to these concerns, Ho Duc Phoc, deputy prime minister and minister of finance at Vietnam, said that the government is ramping up its efforts by using technical solutions like artificial intelligence and big data analysis.
He further noted, “Next week, we will launch an AI tool to monitor revenue and sales activities on e-commerce platforms.”
These new improvements will detect and monitor tax evasion, ensuring all transactions are transparent, fair, and businesses fully comply with tax regulations.
Phoc also disclosed that in terms of cross-border e-commerce platforms, tax collection has been employed for 102 foreign IT companies, including Google and Facebook. Tax collection will also be initiated for domestic e-commerce platforms starting this year.
Meanwhile, the General Department of Taxation emphasised that all e-commerce platforms in Vietnam will be subjected to strict licensing and tax management. They also highlighted the convenience for taxpayers, offering registration, declaration, and tax payment options through the tax authority’s online portal.
