Vietnam mulls tightening import tax on cross-border e-com deliveries
08 Sep 21 1 min read
Pic: Shutterstock
Vietnam is considering limiting import of low-value packages via e-commerce platforms to close a suspected loophole. It intends to issue a decree to limit each organisation or individual to be free of import tax on four orders at the most every month. Vietnam does not impose import tax on packages worth $44 or lower delivered via postal and delivery services.
The proposal follows the rising popularity of e-commerce platforms in the country, with many products delivered directly from China, a Vietnamese newspaper reported.
As there is no limit on the number of packages being sent, many buyers take advantage of this policy and split goods into small packages to avoid tax, according to the ministry of finance.
In the first six months last year, Vietnam imported $1 billion worth of products via postal and delivery services. The value in June was five times that of the January figure, according to the latest data from the ministry.
Vietnam’s e-commerce market has seen an average annual growth rate of 25-30 per cent in the last five years, according to Vietnam E-commerce Association (VECOM).
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The proposal follows the rising popularity of e-commerce platforms in the country, with many products delivered directly from China, a Vietnamese newspaper reported.
As there is no limit on the number of packages being sent, many buyers take advantage of this policy and split goods into small packages to avoid tax, according to the ministry of finance.
In the first six months last year, Vietnam imported $1 billion worth of products via postal and delivery services. The value in June was five times that of the January figure, according to the latest data from the ministry.
Vietnam’s e-commerce market has seen an average annual growth rate of 25-30 per cent in the last five years, according to Vietnam E-commerce Association (VECOM).
Fibre2Fashion News Desk (DS)
Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.
