What are regulations on name of the e-invoice in Vietnam?

What are regulations on name of the e-invoice in Vietnam?

According to Clause 1, Article 10 of Decree 123/2020/ND-CP, the name of the e-invoice is recorded as follows:

Contents of the Invoice

1. Name of the invoice, invoice symbol, invoice template symbol. Specifically, as follows:

a) The name of the invoice is the name of each type of invoice stipulated in Article 8 of this Decree, displayed on each invoice, such as: VALUE ADDED INVOICE, VALUE ADDED INVOICE CUM TAX REFUND DECLARATION, VALUE ADDED INVOICE CUM RECEIPT, SALES INVOICE, PUBLIC PROPERTY SALES INVOICE, STAMP, TICKET, CARD, NATIONAL RESERVE SALES INVOICE.

b) The invoice template symbol, invoice symbol shall be implemented as instructed by the Ministry of Finance.

2. The name of the invoice sheet applied to invoices printed by tax authorities shall be implemented following the guidance of the Ministry of Finance.

3. Invoice Number

a) The invoice number is the sequential number displayed on the invoice when the seller issues the invoice. The invoice number is recorded in Arabic numerals with a maximum of 8 digits, starting from number 1 on January 01 or the initial date of using the invoice and ending on December 31 annually with a maximum number of up to 99,999,999. Invoices are issued sequentially from smaller to larger numbers within the same invoice symbol and invoice template symbol. For invoices printed by tax authorities, the pre-printed invoice number on the invoice may be used until exhausted from the purchase date.

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Thus, based on the above regulation, the name of the e-invoice is recorded as follows:

The name of the invoice is the name of each type of invoice displayed on each invoice, such as: VALUE ADDED INVOICE, VALUE ADDED INVOICE CUM TAX REFUND DECLARATION, VALUE ADDED INVOICE CUM RECEIPT, SALES INVOICE, PUBLIC PROPERTY SALES INVOICE, STAMP, TICKET, CARD, NATIONAL RESERVE SALES INVOICE.

The invoice template symbol, invoice symbol shall be implemented as instructed by the Ministry of Finance.

What are regulations on name of the e-invoice in Vietnam? (Image from the Internet)

What are the rules for issuance, management and use of e-invoices in Vietnam?

Based on Article 4 of Decree 123/2020/ND-CP, regulations on the rules for issuance, management and use of e-invoices are as follows:

- When selling goods or providing services, the seller must issue an invoice to the buyer (including cases where goods and services are used for promotions, advertisements, samples; goods and services used as gifts, exchanges, wage replacements for employees, and for internal consumption (except for internal circulation of goods for further production processes); exporting goods under the forms of loans, borrowings or returning goods) and must fully record the contents according to the regulations in Article 10 of Decree 123/2020/ND-CP. In cases of using e-invoices, they must follow the data format standard of the tax authorities as prescribed in Article 12 of Decree 123/2020/ND-CP.

- When withholding personal income tax, when collecting tax, fees, and charges, tax-withholding organizations, and tax, fee, and charge collecting organizations must issue tax withholding certificates, tax, fee, and charge receipts to the taxable income earners, taxpayers, fee-payers, and must record all contents according to the provisions in Article 32 of Decree 123/2020/ND-CP. In the case of using e-receipts, they must comply with the data format standard of the tax authorities. In the case of individuals authorizing tax finalization, no tax withholding certificate is issued for personal income tax.

For individuals who do not sign labor contracts or sign labor contracts under 03 months, the organization, individual paying income can choose to issue a tax withholding certificate for each tax withholding event or issue one tax withholding certificate for multiple tax withholdings in one tax period. For individuals signing labor contracts of 03 months or longer, the organization, individual paying income only issues one tax withholding certificate in one tax period.

- Before using invoices, receipts, enterprises, economic organizations, and others, must register their usage with tax authorities or issue a publication notice according to the regulations in Article 15, Article 34, and Clause 1, Article 36 of Decree 123/2020/ND-CP. For invoices, receipts printed by tax authorities, the tax authority shall issue publication notices according to Clause 3, Article 24, and Clause 2, Article 36 of Decree 123/2020/ND-CP.

- Organizations, households, individuals in business must report the usage status of purchased invoices from tax authorities, and report the usage status of printed, self-printed, or purchased receipts from tax authorities according to the regulations in Article 29, Article 38 of Decree 123/2020/ND-CP.

- The registration, management, and use of e-invoices, e-documents must comply with the laws on e-transactions, accounting, tax, tax management, and regulations in Decree 123/2020/ND-CP.

- Invoice and document data when selling goods, providing services, document data when carrying out tax payment transactions, tax deductions, and paying taxes, fees, and charges are the database to serve tax management operations and provide invoice, document information to related organizations and individuals.

- Sellers of goods, providers of services who are enterprises, economic organizations, or other organizations may delegate a third party to issue e-invoices for their sales activities and service provision. Invoices delegated to the third party for issuance must still show the name of the selling unit as the delegating party. The delegation must be specified in writing between the delegating party and the delegated party, fully displaying information about the delegated invoice (purpose of delegation; duration of delegation; method of payment of delegated invoices) and must notify the tax authorities upon registering the use of e-invoices. If the delegated invoice is an e-invoice without the tax authority's code, the delegating party must submit data of the e-invoice to the tax authority through a service provider. The Ministry of Finance shall provide specific guidance on this content.

- Organizations collecting fees and charges may delegate a third party to issue receipts for fee and charge collection. Receipts delegated to the third party must still record the name of the fee and charge collecting organization as the delegating party. The delegation must be specified in writing between the delegating party and the delegated party, fully displaying information about the delegated receipt (purpose of delegation; duration of delegation; method of payment of delegated receipts) and must notify the tax authorities upon issuing publication notices.

When is the time for issuing e-invoices in Vietnam?

Based on Article 9 of Decree 123/2020/ND-CP, the regulations regarding the time of issuing e-invoices are as follows:

- The time of issuing invoices for goods sales (including the sale of state assets, confiscated assets, national reserve goods) is at the time of transferring the ownership or the right to use goods to the buyer, regardless of whether the payment has been received or not.

- The time of issuing invoices for service provision is at the time of completing the service provision regardless of whether the payment has been received or not. If the service provider collects money before or while providing the service, the time of issuing the invoice is the time of payment (except in cases of collecting deposits or advance payments to ensure the execution of service contracts: accounting, auditing, financial consulting, tax services; appraisal; survey, technical design; supervision consulting; project investment construction planning).

- In cases of multiple deliveries or handover of each service item, stage, each delivery or handover must be invoiced for the corresponding amount and value of goods, services rendered.