What is the format of e-invoices in Vietnam? What are cases eligible for exemption from e-invoice service fees for 12 months?

What is the format of e-invoices in Vietnam?

Based on Article 12 of Decree 123/2020/ND-CP the following is stipulated:

Format of e-invoices

1. The format of e-invoices is a technical standard that specifies the data type and data length of information fields used for the transmission, storage, and display of e-invoices. The format of e-invoices uses the text formatting language XML (XML is the abbreviation for the English term "eXtensible Markup Language" created to share electronic data between information technology systems).

2. The format of e-invoices consists of 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 data related to the tax authority code.

3. The General Department of Taxation develops and publishes components containing business data of e-invoices, components containing digital signature data, and provides display tools for the contents of e-invoices as stipulated in this Decree.

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Thus, it can be seen that the format of e-invoices is a technical standard that specifies the data type and data length of information fields used for the transmission, storage, and display of e-invoices.

What is the format of e-invoices? What are cases eligible for exemption from e-invoice service fees for 12 months? (Image from the Internet)

What are cases eligible for exemption from e-invoice service fees for 12 months in Vietnam?

Based on Article 14 of Decree 123/2020/ND-CP the following is stipulated:

Provision of e-invoice services

1. Cases using e-invoices with tax authority codes are not required to pay service fees for 12 months from the commencement of using e-invoices include:

a) Small and medium enterprises, cooperatives, households, and individual businesses located in areas with difficult socio-economic conditions, areas with specially difficult socio-economic conditions. The areas with difficult socio-economic conditions and specially difficult socio-economic conditions are implemented according to the List of preferential investment areas issued with Decree No. 118/2015/ND-CP dated November 12, 2015, of the Government of Vietnam detailing and guiding the implementation of some articles of the Investment Law and its amendments, supplements, or replacements if any.

b) Other small and medium enterprises as proposed by the People's Committees of provinces and centrally-run cities to the Ministry of Finance, except for enterprises operating in economic zones, industrial parks, and high-tech zones.

The General Department of Taxation shall implement or delegate an organization providing e-invoice services to provide e-invoices with tax authority codes free of charge to the aforementioned entities.

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Thus, according to the above regulations, the cases eligible for exemption from e-invoice service fees for 12 months include:

Case [1] Small and medium enterprises, cooperatives, households, and individual businesses located in areas with difficult socio-economic conditions, and areas with specially difficult socio-economic conditions.

Case [2] Other small and medium enterprises as proposed by the People's Committees of provinces and centrally-run cities to the Ministry of Finance, except for enterprises operating in economic zones, industrial parks, and high-tech zones.

The General Department of Taxation shall implement or delegate an organization providing e-invoice services to provide e-invoices with tax authority codes free of charge to the aforementioned entities.

Are enterprises required to register e-invoices for selling public assets in Vietnam?

According to Clause 1 Article 15 of Decree 123/2020/ND-CP the following is stipulated:

Registration, change of registration contents for using e-invoices

1. Enterprises, economic organizations, other organizations, households, and individual businesses not subject to the suspension of invoice use as specified in Clause 1 Article 16 of this Decree are required to register to use e-invoices (including registration for e-invoices for selling public assets and e-invoices for selling national reserve goods) through an e-invoice service provider.

If using e-invoices with tax authority codes is free of charge, entities can register through the electronic portal of the General Department of Taxation or organizations providing e-invoice services authorized by the General Department of Taxation.

If an enterprise is an organization connected to transmit e-invoice data directly to the tax authority, it must register to use e-invoices through the electronic portal of the General Department of Taxation.

Registration information content follows Form No. 01/ĐKTĐ-HĐĐT Appendix IA issued with this Decree.

The electronic portal of the General Department of Taxation sends electronic notifications about the receipt of registration for using e-invoices through e-invoice service providers for cases where enterprises, economic organizations, other organizations, households, and individual businesses register via service providers.

The electronic portal of the General Department of Taxation sends direct electronic notifications following Form No. 01/TB-TNĐT Appendix IB about the receipt of registration for using e-invoices to enterprises, economic organizations, other organizations, households, and individual businesses through the registered email address with the tax authority for cases of direct registration at the electronic portal of the General Department of Taxation.

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Therefore, enterprises are also required to register e-invoices for selling public assets.