TikTok Shop Vietnam Implements NFC Identity Verification and Mandatory Tax Reporting
Starting from July 1, creators on TikTok Shop Vietnam must complete NFC-based enhanced identity verification and submit tax information. Those who do not complete the verification will lose the ability to live stream for sales, and those who do not submit tax information may face a maximum withholding tax rate.
What are the key facts?
- 1TikTok Shop
- 2Vietnam market
- 3NFC verification
- 4effective July 1
What happened?
To comply with local regulatory requirements in Vietnam, TikTok Shop has introduced a mandatory identity verification and tax reporting process aimed at standardizing the creator ecosystem. Creators need to complete NFC identity verification by July 1 to ensure their legal identity and submit the relevant tax information within the stipulated time, otherwise their participation in live sales will be affected. Additionally, failure to provide tax information may result in higher taxable deductions, directly impacting their income. Therefore, cooperation between sellers and creators must ensure compliance with regulatory requirements to avoid business losses due to non-compliance.
What does this mean for cross-border sellers?
Sellers operating in the Vietnamese market should urge collaborating creators to complete compliance certification promptly to avoid interruptions in live sales activities. Ensure creators submit tax information to facilitate smooth cooperation and maximize revenue.