What is an authority-ordered printed invoice in Vietnam? How to store and retain it?

What is an authority-ordered printed invoice in Vietnam?

Based on Clause 3, Article 3 of Decree 123/2020/ND-CP provided as follows:

Explanation of terms

In this Decree, the following terms are understood as follows:

1. Invoice is an accounting document created by organizations, individuals selling goods, providing services, and recording information about the sale of goods, provision of services. The invoice can be presented in the form of an e-invoice or an authority-ordered printed invoice.

2. E-invoice is an invoice with or without the tax authority's code presented in electronic data form created by organizations, individuals selling goods, providing services via electronic means to record information about the sale of goods, provision of services in accordance with the law on accounting and tax, including cases where the invoice is generated from a cash register connected to transfer electronic data to the tax authority. Specifically:

a) E-invoice with the tax authority's code is an e-invoice to which the tax authority grants a code before the organization, individual selling goods, providing services sends to the buyer.

The tax authority's code on the e-invoice includes a transaction number, a unique series of numbers created by the tax authority's system, and a character string encoded by the tax authority based on the seller's information on the invoice.

b) E-invoice without the tax authority's code is an e-invoice by which the organization selling goods, providing services sends to the buyer without the tax authority's code.

3. An authority-ordered printed invoice is an invoice in paper form printed by the tax authority to be sold to organizations, individuals eligible to purchase invoices from the tax authority as prescribed in Article 23 of this Decree for use in the sale of goods, provision of services.

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Thus, according to the above provision, an authority-ordered printed invoice is an invoice in paper form printed by the tax authority to be sold to organizations and individuals.

*Note: These organizations and individuals must be eligible to purchase invoices from the tax authority.

What is an authority-ordered printed invoice in Vietnam? How to store and retain it? (Image from the Internet)

How to store and retain authority-ordered printed invoices in Vietnam?

Based on Clause 3, Article 6 of Decree 123/2020/ND-CP provided as follows:

Storage and retention of invoices and documents

1. Invoices and documents are preserved and stored to ensure:

a) Safety, security, integrity, and completeness, not being altered or distorted during the storage period;

b) Storing properly and timely according to the law on accounting regulations.

2. E-invoices, electronic documents are preserved and stored by electronic means. Agencies, organizations, and individuals have the right to choose and apply methods to store and retain e-invoices, electronic documents suitable to their operational characteristics and technological capacity. E-invoices, electronic documents must be ready for printing or retrieval upon request.

3. authority-ordered printed invoices, pre-printed documents, self-printed documents must be preserved, stored according to the following requirements:

a) Invoices and documents that have not been used must be stored and retained in warehouses according to the preservation policies for valuable documents.

b) Invoices and documents that have been used in accounting units must be stored according to the Storage and retention regulations for accounting documents.

c) Invoices and documents that have been used in organizations, household businesses, and individuals that are not accounting units must be stored and retained as private assets of those organizations, household businesses, and individuals.

Thus, according to the above provision, the storage and retention of authority-ordered printed invoices must ensure the following requirements:

[1] Unused authority-ordered printed invoices must be stored and retained in warehouses according to the preservation policies for valuable documents.

[2] Used authority-ordered printed invoices in accounting units must be stored according to the storage and retention regulations for accounting documents.

[3] Used authority-ordered printed invoices in organizations, household businesses, and individuals that are not accounting units must be stored and retained as private assets of those organizations, household businesses, and individuals.

How to destroy authority-ordered printed invoices in Vietnam?

Based on Clause 11, Article 3 of Decree 123/2020/ND-CP provided as follows:

Explanation of terms

In this Decree, the following terms are understood as follows:

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11. Destroying invoices and documents:

a) Destroying e-invoices and electronic documents is a method to make e-invoices and electronic documents no longer exist on the information system, making it impossible to access and refer to the information contained in the e-invoices and electronic documents.

b) Destroying authority-ordered printed invoices, destroying pre-printed or self-printed documents is the use of measures such as burning, cutting, shredding, or other destruction methods to ensure that the invoices and documents cannot be reused for information and data on them.

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Thus, according to the above provision, destroying authority-ordered printed invoices is understood as using measures such as burning, cutting, shredding, or other destruction methods to ensure that the invoices and documents cannot be reused for the information and data on them.