Vietnam's tax revenues in e-commerce reaches $3.74 billion in 10 months

Hanoi : Tax revenues from organisations and individuals engaged in e-commerce activities in Vietnam reached 94.6 trillion Vietnamese dongs ($3.74 billion) in the first ten months of this year, a 17-percent increase compared to the same period last year, local media reported on Monday.

Over 191,000 traders operating on the platforms recorded business transactions amounting to 72 trillion dong ($2.8 billion), said the General Department of Taxation.

According to the tax department, as many as 412 e-commerce platforms have registered their tax information with Vietnam's tax authorities, reports Xinhua, quoting Vietnam News.

As internet shopping has been rapidly gaining popularity in recent years, Vietnam's B2C e-commerce revenue is forecast to reach 29 billion dollars by the end of next year, according to the E-commerce and Digital Economy Agency under the Ministry of Industry and Trade.