Shall invoices be issued for Halloween gifts for customers in Vietnam?

Shall invoices be issued for Halloween gifts for customers in Vietnam?

According to the provisions of Article 4 of Decree 123/2020/ND-CP regarding the principles of invoice preparation as follows:

Principles for Preparing, Managing, and Using Invoices, Documents

1. When selling goods or providing services, the seller must issue an invoice to give to the buyer (including cases where goods or services are used for promotion, advertising, samples; goods, services given as gifts, presents, exchanged, used for salary payment to employees, and internal consumption (except for internally circulated goods for further production processes); or exporting goods under forms of lending, borrowing, or returning goods) and must fully record the contents as specified in Article 10 of this Decree. In cases of using electronic invoices, the format must comply with the tax authority's data standard in accordance with Article 12 of this Decree.

2. During personal income tax deduction, when collecting tax, fees, charges, organizations deducting tax, collecting fees, charges, collecting tax must prepare tax deduction documents, tax, fee, and charge receipts for individuals whose tax is deducted, taxpayers, and must fully record the contents as specified in Article 32 of this Decree. In the case of using electronic receipts, the format must follow the tax authority's data standard. If an individual authorizes tax settlement, no personal income tax deduction certificate will be issued.

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Therefore, goods intended as gifts, including Halloween gifts specifically, are still required to have an invoice prepared as per the above regulations.

Shall invoices be issued for Halloween gifts for customers in Vietnam? (Image from the Internet)

Are Halloween Gifts for customers subject to VAT in Vietnam?

In accordance with Clause 3, Article 7 of Circular 219/2013/TT-BTC, the taxable value-added tax price for promotional or gifted products is stipulated as follows:

Taxable Price

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3. For products, goods, services (including those purchased externally or produced by the business establishment itself) used for exchange, gift, present, or salary payment, the VAT taxable price is the price of similar or equivalent goods, services at the time these activities occur.

Specifically for invitations (stating non-payment on the invitation) to art performances, fashion shows, beauty contests, and sports competitions authorized by state agencies, the taxable price is set at zero (0). The performance-organizing entity must self-determine and be responsible for the number of invitations and the list of organizations, individuals to whom the establishment gives these invitations before the event or competition. If there is fraudulent behavior involving charging for these invitations, it will be handled according to tax management laws.

The business establishment must issue an invoice for goods or services given as gifts to customers, and the invoice must fully record the contents as specified in Article 10 of Decree 123/2020/ND-CP. The taxable price for goods or services as Halloween gifts is the VAT taxable price of similar or equivalent items calculated at the time of activity.

What are the contents of the invoice in Vietnam?

The contents of an electronic invoice are regulated from Clauses 1 to 13 and Clause 15, Article 10 of Decree 123/2020/ND-CP, including:

- Invoice name, invoice code, invoice form number code. Specifically:

+ The invoice name is the name of each type of invoice stipulated in Article 8 of this Decree and displayed on each invoice, such as: Value-added invoice, value-added invoice cum tax refund declaration, value-added invoice cum collection receipt, sales invoice, public asset sales invoice, stamps, tickets, cards, national reserve goods sales invoice.

+ The invoice form number code, invoice code is implemented according to the guidance of the Ministry of Finance.

- Invoice copy name applicable to invoices printed by the tax authority according to the guidance of the Ministry of Finance.

- Invoice number

- Name, address, tax code of the seller

- Name, address, tax code of the buyer (if any)

- Name, unit of measure, quantity, unit price of goods, services; total amount excluding VAT, VAT rate, total VAT amount for each tax rate, total VAT amount, total payment amount including VAT.

- Seller's signature, buyer's signature

- Invoice preparation time follows the day, month, year format of the Gregorian calendar.

- Electronic signature timestamp on the electronic invoice.

- Code of the tax authority for electronic invoices with a tax authority code.

- Fees and charges belong to the state budget, commercial discounts, promotions (if any).

- Name, tax code of the organization receiving invoice printing for invoices printed by the tax authority.

- Letters, numbers, and currency shown on the invoice

- Other contents on the invoice such as information about logos or logos to represent the brand, trademark, or symbol of the seller.