Conditions for setting up an online sales company

1. What are online sales?

🔰 According to the law, when selling anything online, no matter how big or small, online sellers are required to register their business. If the business is not registered, it will be considered tax evasion by the state agency and when there is an inspection by the authorities, the online seller will be subject to arrears of previous tax. At the same time, the authorities will compel people who are selling online to continue selling only when they have a business registration license from a state agency. Therefore, if you are determined to have a long-term online business, to avoid risks, you should consider whether to register for an individual business household or to register as a company.

🔰 When doing business and selling online on a small scale, in a spontaneous form, almost every individual/owner of an online shop does not register for a business.

🔰 However, in the case of an inspection agency, these subjects may be administratively sanctioned, considered tax evasion, or unlicensed in business activities.

🔰 Therefore, the registration of establishing an individual business household, or establishing a company is mandatory and necessary for you to be able to sell online for a long time.

2. Conditions for setting up an online sales company:

🔗  Being a trader, organization, or individual who has been granted a personal tax code

🔗 Traders, organizations, and individuals have notified the Ministry of Industry and Trade of the establishment of an e-commerce website selling goods through the online notification tool on the e-commerce management portal.

🔗  Besides, it is necessary to meet some of the following requirements about the website (based on Section 1 of Decree 52/2013/ND-CP):

➥ The sales e-commerce website must provide full information about the website owner, goods and services, and the terms of the sales contract applicable to the goods and services introduced on the website.

➥ Information must be clear, accurate, easy to find, and easy to understand; arranged in their respective sections on the website and accessible online; capable of storing, printing, and displaying later; be clearly displayed to the customer before the customer submits the purchase request or concludes the contract.

➥ Minimum information about the website owner that must be published on the website homepage includes the name and address of the head office of the trader or organization or the name and permanent address of an individual; number, date of issue, and place of issue of business registration certificate of the trader, or number, date of issue and establishment decision issuer of the organization, or personal income tax identification number of the individual; phone number or another online contact method.

➥ Information on the price of goods or services, if any, must clearly indicate whether or not that price includes costs associated with the purchase of the good or service such as taxes, packaging fees, shipping charges, and other costs incurred.

3. Advantages of establishing an online sales company:

⏩ The company's tax calculation method is based on the profit shown on the input and output value-added invoice. It is this clear management that will help the company model not be troubled by tax administrators as it is in the form of individual business households.

⏩ The type of business that can issue red invoices at the request of customers is a business or a government agency.

⏩  Allow business owners the right to open more branches, business locations, and stores when there is a need to expand.

4. Disadvantages of setting up an online sales company:

✨ When established under the business model, it means that you have to file monthly/quarterly tax returns and have to submit year-end financial statements, so it is imperative that this type of business hire a qualified professional accountant to do it (if medium and large enterprises). However, if the business is small, business owners can hire accountants to do the above to optimize costs.

✨ Businessmen can refer to the Lump-sum accounting services.

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