Shall all transactions for the sale of public property be required to use e-invoices in Vietnam from January 1, 2025?
Shall all transactions for the sale of public property be required to use e-invoices in Vietnam from January 1, 2025?
Pursuant to Clause 2, Article 95 of Decree 151/2017/ND-CP, as amended by Clause 60, Article 1 of Decree 114/2024/ND-CP, which regulates e-invoices for the sale of public assets as follows:
e-Invoice for Sale of Public Property
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- e-invoice for the sale of public property:
a) The template for the e-invoice for the sale of public property is implemented according to Form No. 08/TSC-HĐ issued together with this Decree.
b) Agencies assigned to organize the handling of public assets issue e-invoices through an e-invoice service provider (for agencies that are value-added tax payers with tax identification numbers) or via the e-portal of the General Department of Taxation (for agencies that are not value-added tax payers with tax identification numbers) as stipulated by the Decree of the Government of Vietnam on invoices and documents for buyers when selling and transferring various types of public assets as regulated in Clause 1 of this Article. Agencies assigned to organize the handling of public assets prepare sale invoices for public property with tax authority codes according to the regulations applicable to non-business organizations that engage in the sale of goods and provision of services; not required to pay for the use of e-invoices.
c) The tax authority issues e-invoices with tax authority codes for the sale and transfer of public assets each time they arise for agencies assigned to organize the handling of public assets.
d) The preparation, adjustment, cancellation, and reporting of the management and use of e-invoices for the sale of public property are carried out according to the Decree of the Government of Vietnam on invoices and documents.
đ) The mandatory deadline to switch to using e-invoices for the sale of public property is from January 1, 2025.
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Thus, from January 1, 2025, all transactions involving the sale of public property must switch to using e-invoices.
Shall all transactions for the sale of public property be required to use e-invoices in Vietnam from January 1, 2025? (Image from the Internet)
What are the requirements for storing e-invoices in Vietnam?
Based on Clauses 1 and 2, Article 6 of Decree 123/2020/ND-CP, it is stipulated that e-invoices stored must meet the following requirements:
- Ensure safety, security, integrity, completeness, and no changes or discrepancies during the storage period;
- Store correctly and within the timeframe prescribed by accounting law.
- e-invoices must be protected and stored by e-means. Agencies, organizations, and individuals have the right to select and apply formats for protecting and storing e-invoices that suit their operational characteristics and technological capabilities.
- e-invoices and documents must be readily printable or accessible upon request.
What are regulations on the format of e-invoices in Vietnam?
Pursuant to Article 12 of Decree 123/2020/ND-CP, the format of e-invoices is regulated as follows:
- The format of e-invoices is a technical standard that specifies the data types and data lengths for information fields used for transmitting, storing, and displaying e-invoices. The format uses the XML language ("eXtensible Markup Language" is designed to share e-data between IT systems).
- The format of e-invoices includes two components: the component containing the business data of the e-invoice and the component containing digital signature data. For e-invoices with tax authority codes, there is an additional component containing tax authority code data.
- The General Department of Taxation develops and publishes the component containing the business data of e-invoices, the component containing digital signature data, and provides tools to display the contents of e-invoices as prescribed by Decree 123/2020/ND-CP.
- Organizations and businesses selling goods or providing services must meet the following requirements when directly sending e-invoice data to the tax authority:
+ Connect with the General Department of Taxation through a private leased line or MPLS VPN Layer 3, consisting of one main transmission channel and one backup channel. Each channel must have a minimum bandwidth of 5 Mbps.
+ Use Web Service or Message Queue (MQ) with encryption as the method of connection.
+ Use the SOAP protocol for packaging and transmitting data.
- e-invoices must be fully and accurately displayed to ensure no misunderstandings, allowing the buyer to read them via e-means.
What is the deadline for providing e-invoice information in Vietnam?
According to Article 51 of Decree 123/2020/ND-CP, the deadline for providing e-invoice information is stipulated as follows:
Within no more than 5 minutes from receiving the request, the e-portal should respond to the information user with:
- e-invoice information
- Notification of reasons in cases where the system encounters issues or there is no e-invoice information.
- In cases where a large amount of data is requested, the deadline for providing e-invoice information will be notified by the General Department of Taxation.
