What are 3 types of tax receipts in Vietnam under Circular 123?

What are 3 types of tax receipts in Vietnam under Circular 123?

Based on Article 30 of Decree 123/2020/ND-CP stipulated as follows:

Type of Documents

1. Documents in the field of tax, fee, and charge management by tax authorities include:

a) Personal income tax deduction document;

b) Receipt includes:

b.1) Receipt for tax, fees, and charges not pre-printed with par value;

b.2) Receipt for tax, fees, and charges pre-printed with par value;

b.3) Receipt for tax, fees, and charges.

2. During the process of managing tax, fees, and charges according to the provisions of the Law on Tax Administration, in case there is a requirement for other types of documents, the Minister of Finance shall be responsible for stipulating and guiding the implementation.

Thus, by comparing the above regulations, we can see that the 3 types of tax receipts as prescribed in Circular 123 include:

Type [1] Receipt for tax, fees, and charges not pre-printed with par value;

Type [2] Receipt for tax, fees, and charges pre-printed with par value;

Type [3] Receipt for tax, fees, and charges.

What are 3 types of tax receipts in Vietnam under Circular 123? (Image from the Internet)

When is the time for issuing and delivering tax receipts in Vietnam?

Based on the provisions of Article 31 of Decree 123/2020/ND-CP stipulated as follows:

Time for Issuing Documents

At the time of personal income tax deduction, the time of collecting taxes, fees, and charges, the organization deducting personal income tax, the organization collecting taxes, fees, and charges must issue documents, receipts to hand over to the individual whose income is deducted, the payer of taxes, fees, and charges.

Thus, by referring to the regulation, it is evident that when an organization or agency conducts activities such as collecting taxes, fees, and charges, at the time of implementation, they must issue documents and receipts to hand over to the person whose income is being deducted or the payer of taxes, fees, and charges.

Vietnam: Does the tax receipt include the name of the type of receipt?

Based on the provisions of Article 32 of Decree 123/2020/ND-CP stipulated as follows:

Document Content

1. Tax deduction documents contain the following information:

a) Name of the tax deduction document, form code of the tax deduction document, tax deduction document code, serial number of the tax deduction document;

b) Name, address, tax code of the payer;

c) Name, address, tax code of the taxpayer (if the taxpayer has a tax code);

d) Nationality (if the taxpayer does not belong to Vietnamese nationality);

e) Income item, time of payment, total taxable income, deducted tax amount; remaining income to be received;

f) Date of issuance of the tax deduction document;

g) Full name, signature of the person providing the income.

In the case of using electronic tax deduction documents, the signature on the electronic document shall be an electronic signature.

2. Receipt

a) Name of the type of receipt: Receipt for tax, fees, and charges not pre-printed with par value; receipt for tax, fees, and charges pre-printed with par value; receipt for tax, fees, and charges.

b) Form code of the receipt and receipt code.

The form code of the receipt contains information representing the name of the type of receipt, the serial number of the receipt, and the serial number of the form in one type of receipt (one type can have multiple forms).

The receipt code is a sign that distinguishes the receipt using Vietnamse letters and the last two digits of the year.

For printed receipts, the last two digits of the year are the year the receipt was printed. For self-printed and electronic receipts, the last two digits are the year the receipt is first used as stated in the issuance notification or the year the receipt is printed.

c) The receipt number is the serial number displayed on the receipt for tax, fees, and charges. The receipt number is written in Arabic numerals having a maximum of 7 digits. For self-printed and printed receipts, the receipt number starts at 0000001. For electronic receipts, the electronic receipt number starts at number 1 on January 1 or the date electronic receipts are first used and ends on December 31 annually.

d) The parts of the receipt (applies to printed and self-printed receipts) are the number of sheets in the same serial number. Each serial number must have at least 2 parts or more, including:

- Part 1: retained at the collecting organization;

- Part 2: given to the taxpayer;

Parts from the third onwards are named according to their specific use for management as prescribed by law.

e) Name, tax code of the organization collecting taxes, fees, and charges.

f) Name of the types of tax, fees, and charges and amount in numbers and words.

g) Date of issuance of the receipt.

h) Signature of the person collecting money. In case of using electronic receipts, the signature on the electronic receipt is an electronic signature.

i) Name, tax code of the organization printing the receipt (in the case of printed receipts).

k) Receipts are presented in Vietnamese. If additional foreign language information is necessary, the foreign language text should be placed on the right in parentheses "( )" or directly below the Vietnamese text with a smaller font size.

Numbers recorded on receipts are the natural numbers 0, 1, 2, 3, 4, 5, 6, 7, 8, 9.

The currency shown on receipts is Vietnamese Dong. In cases where other amounts to be collected belong to the state budget and are stipulated by law to be collected in foreign currency, they may be collected in foreign currency or Vietnamese Dong based on conversion from foreign currency to Vietnamese Dong according to the exchange rate defined in clause 4 Article 3 Decree No. 120/2016/ND-CP dated August 23, 2016, of the Government of Vietnam specifying and guiding the implementation of several articles of the Law on Fees and Charges.

In the event of fee and charge collection, if the fee and charge list exceeds the line number on a receipt, a detailed list may be attached. This list is designed by the fee and charge collecting organization according to the characteristics of each type of fee and charge. The list must specify "attached to receipt number... dated... month.... year".

For fee and charge collecting organizations using electronic receipts, if it's necessary to adjust or add some criteria on the electronic receipt to fit the actual conditions, the organization must have written communication with the Ministry of Finance (General Department of Taxation) for consideration and guidance before implementation.

Besides the mandatory information as prescribed in this clause, fee and charge collecting organizations may create additional information, including logos, decorative images, or advertisements that comply with legal provisions and do not obscure or blur mandatory information on the receipt. The font size of these additional information pieces must not be larger than the font size of the mandatory content on the receipt.

3. Display format of electronic documents as instructed in clause 10 Article 4 of Decree No. 11/2020/ND-CP dated January 20, 2020, of the Government of Vietnam regulating administrative procedures in the field of the State Treasury and implementing guidance documents.

Thus, by referring to the above regulations, it can be seen that among the contents that must be recorded, the tax receipt must include the name of the type of receipt.