What is the proper way to record the seller's name on an e-invoice in Vietnam?

What is the proper way to record the seller's name on an e-invoice in Vietnam?

Based on Clause 5, Article 10 of Decree 123/2020/ND-CP regulating the content of invoices as follows:

Content of the invoice

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4. Name, address, tax code of the seller

The invoice must show the name, address, tax code of the seller exactly as recorded on the enterprise registration certificate, branch operation certificate, household business registration certificate, taxpayer registration certificate, tax code notice, investment registration certificate, cooperative registration certificate.

5. Name, address, tax code of the buyer

a) If the buyer is a business entity with a tax code, the name, address, tax code of the buyer on the invoice must be recorded exactly as stated in the enterprise registration certificate, branch operation certificate, household business registration certificate, taxpayer registration certificate, tax code notice, investment registration certificate, cooperative registration certificate.

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Therefore, the seller's name on an e-invoice is one of the mandatory contents and must be recorded accurately as per the names on the following documents:

- Enterprise registration certificate.

- Branch operation certificate.

- Household business registration certificate.

- Taxpayer registration certificate, tax code notice.

- Investment registration certificate.

- Cooperative registration certificate.

What is the proper way to record the seller's name on an e-invoice in Vietnam? (Image from the Internet)

What are the prohibited acts related to invoices and records for organizations and individuals selling and supplying goods in Vietnam?

According to Clause 2, Article 5 of Decree 123/2020/ND-CP as follows:

Prohibited acts related to invoices and records

1. For tax officials

a) Causing trouble or difficulty for organizations and individuals coming to purchase invoices, documents;

b) Having acts of concealment or collusion with organizations and individuals to use illegal invoices, documents;

c) Receiving bribes during the inspection and examination of invoices.

2. For organizations and individuals selling and supplying goods, services, and related organizations and individuals

a) Committing fraudulent acts such as using illegal invoices, illegal use of invoices;

b) Obstructing tax officials from performing their public duties, specifically acts that cause harm to the health and dignity of tax officials during inspection and examination of invoices and documents;

c) Unauthorized access, alteration, or destruction of the invoice and document information system;

d) Giving bribes or performing other acts related to invoices and documents for illicit gain.

Prohibited acts related to invoices and records for organizations and individuals selling and supplying goods include:

- Committing fraudulent acts such as using illegal invoices, illegal use of invoices;

- Obstructing tax officials from performing their public duties, specifically acts that harm the health and dignity of tax officials during the inspection and examination of invoices and documents;

- Unauthorized access, alteration or destruction of invoice and document information systems;

- Giving bribes or performing other acts related to invoices and documents for illicit gain.

What are the basic contents on an e-invoice in Vietnam?

Based on Article 10 of Decree 123/2020/ND-CP and Article 4 of Circular 78/2021/TT-BTC, the contents of an e-invoice include:

- Name of invoice, invoice symbol, sample number symbol.

- Name of invoice copy applied to invoices ordered printed by the tax authority according to the Ministry of Finance's instructions.

- Invoice number

- Name, address, tax code of the seller

- Name, address, tax code of the buyer

- Name, unit of measure, quantity, unit price of goods or services; amount before VAT, VAT rate, total VAT amount per tax rate, total VAT amount, total payment with VAT.

- Seller's signature, buyer's signature

- Time of invoice issuance

- Time of digital signing on e-invoices

- Tax authority code for e-invoices with tax authority codes

- Fees and charges belonging to the state budget, commercial discounts, promotions (if any) as instructed in point e, clause 6 of this article, and other related contents (if any)

- Name, tax code of the organization authorized to print invoices for invoices ordered printed by the tax authority.

- Language, numerical and monetary expressions on the invoice

- Other contents on the invoice