The Prime Minister Urges Increased Livestream Sales Inspection

In a telegram signed by Prime Minister Pham Minh Chinh on June 6, it was stated that the Ministry of Finance has been tasked with inspecting and monitoring livestream sales activities. Any individuals found violating the regulations will be subject to appropriate handling. Livestream sales, especially on e-commerce platforms, have become increasingly popular.

To enhance tax management in this area, the Prime Minister has requested the Ministry of Finance to step up its inspection and supervision of livestream sales activities. If any organization or individual is found to be selling goods, receiving advertising commissions, or engaging in activities that violate the law, the Prime Minister has instructed that the case be referred to the authorities for further action.

Livestream sales have proven to be a lucrative source of income for sellers and livestreamers. During a National Assembly session on June 4, it was noted that social media platforms are abuzz with livestream sales sessions generating hundreds of billions in revenue daily. Minister of Industry and Trade Nguyen Hong Dien acknowledged the challenges of managing the e-commerce sector.

Under the Personal Income Tax Law, income from livestream sales is a taxable source. Those earning 100 million VND or more annually are required to declare and pay taxes. While some individuals with significant incomes from livestream sales have voluntarily registered for taxes and paid substantial amounts to the budget, there are others who may be evading tax obligations.

In addition to livestream sales, e-commerce activities have experienced significant growth in recent years. The Prime Minister has emphasized the importance of tighter management, monitoring, consumer protection, and tax collection in this sector. Ministries and branches have been directed to overhaul e-commerce regulations, enforce penalties for counterfeit goods, and safeguard consumer rights.

The Ministry of Finance, along with other relevant agencies, is tasked with simplifying tax procedures, preventing tax evasion, and cracking down on financial crimes in e-commerce space. Collaboration between different ministries and agencies will strengthen tax management systems and combat fraud.

The State Bank has been instructed to ramp up oversight of electronic payment transactions to support e-commerce activities. Credit institutions and payment service providers are expected to assist tax authorities by providing information on foreign vendors and individuals with cross-border income. These measures aim to enhance transparency, combat tax evasion, and facilitate the growth of the digital economy.