Prime Minister of Vietnam: To strengthen the management and use of e-invoices for retailing of oil and gas in Vietnam?
Prime Minister of Vietnam: To strengthen the management and use of e-invoices for retailing of oil and gas in Vietnam?
Prime Minister Pham Minh Chinh has just signed Official Telegram 1284/CD-TTg dated December 1, 2023 on strengthening the management and use of electronic invoices for retail petrol and oil sales.
Thus, the Prime Minister requests the following ministries, heads of ministerial agencies, Governmental agencies, and provincial People's Committees to promptly implement the following tasks, and requests the Minister of Finance to:
- Direct tax authorities at all levels to take decisive action to continue promoting and expanding the range of measures and solutions to ensure widespread understanding and compliance with the electronic invoice issuance regulations per sale outlined in Decree No. 123/2020/ND-CP of October 19, 2020 to taxpayers, petrol and oil retailers and businesses.
- Take charge and cooperate with Ministers of Industry and Trade, Minister of Science and Technology, Minister of Information and Communications, Minister of Public Security, and Presidents of provincial People’s Committees in implementing synchronous, effective, and decisive solutions to require petrol and oil businesses to issue electronic invoices per transaction at each petrol and oil retailer, and connect data with tax authorities as mandated; complete by December 2023.
- Take charge and cooperate with Minister of Public Security, the Minister of Information and Communications and relevant agencies in developing and enhancing the electronic invoice IT system. This ensures seamless and efficient receipt and connection of electronic invoice data for tax authorities, thereby improving tax management effectiveness; complete no later than the first quarter of 2024.
- Direct the tax authority to coordinate with the police and other relevant agencies to strengthen inspections and oversight of electronic invoice issuance at petrol and oil retailers, enforce compliance with legal regulations and hold violators, including those intentionally non-compliant or non-intentionally non-compliant, accountable under the law.
Prime Minister of Vietnam: To strengthen the management and use of e-invoices for retailing of oil and gas in Vietnam?
What is the invoicing time for retailing of oil and gas in Vietnam?
Pursuant to Clause 1, Article 90 of the Law on Tax Administration 2019, it stipulates the rules for issuance, management and use of electronic invoices as follows:
Rules for issuance, management and use of electronic invoices
1. When selling goods/services, the seller shall issue and send electronic invoices to buyers. The electronic invoices shall follow standard formats and contain sufficient information in accordance with tax laws and accounting laws, regardless of the value of each sale.
At Point i, Clause 4, Article 9, Decree 123/2020/ND-CP of the Government on invoices and documents stipulates:
Invoicing time
...
4. Invoicing time in some specific cases:
...
i) In case of retailing of oil and gas, e-invoices shall be issued to buyers upon completion of each sale. The seller shall retain e-invoices for sale of oil and gas to non-business individuals and business individuals, and make sure they can be accessed at the request of competent authorities.
Accordingly, when selling goods/services, the seller shall issue and send electronic invoices to buyers, regardless of the value of each sale.
At the same time, in case of retailing of oil and gas, e-invoices shall be issued to buyers upon completion of each sale.
Thus, the time of issuing e-invoices of retailing of oil and gas is the end of each sale.
What are the contents of e-invoices for retailing of oil and gas in Vietnam?
The contents of e-invoices for retailing of oil and gas in particular are specified in Article 10 of Decree 123/2020/ND-CP, specifically as follows:
(1) Name, reference number and form number of the invoice. To be specific:
- The invoice name shall comply with the provisions in Article 8 hereof. For instance: VAT invoice, VAT invoice cum tax refund declaration, VAT invoice cum receipt, sales invoice, public property sales invoice, stamp, ticket, card, and sales invoice on national reserve goods.
- Form number and reference number of the invoice shall comply with regulations of the Ministry of Finance.
(2) Names of copies of tax authority-ordered printed invoices shall comply with regulations of the Ministry of Finance.
(3) Invoice number
- Invoice number is an ordinal number written on the invoice when it is issued by the seller. An invoice number consists of 8 digits, from 1 to 99 999 999, written in Arabic numerals, begins on January 01 or the first day on which the invoices are used and ends on December 31. Numbers of invoices of the same reference number and form number shall be issued in ascending order. Buyers of tax authority-ordered printed invoices may use the invoice numbers pre-printed on such invoices.
If a business entity has multiple points of sale or multiple establishments using the same type of e-invoices of the same reference number by adopting the random access method from an e-invoicing system, invoices shall be issued in ascending order from the date on which the digital or electronic signature is added to the invoice.
- If the aforementioned rules are not followed, the electronic invoicing system shall ensure that the numbers are generated in chronological order, every invoice number is unique and has no more than 8 digits.
(4) The seller’s name, address and TIN
Invoices shall contain the same seller's name, address and TIN as those written on the certificate of enterprise registration, certificate of branch registration, certificate of household business registration, taxpayer registration certificate, TIN notification, investment registration certificate, or certificate of cooperative registration.
(5) The buyer’s name, address and TIN
+ If the buyer is a business establishment that has a TIN, the buyer’s name, address and TIN shall be written on the invoice shall be same as those written on the certificate of enterprise registration, certificate of branch registration, certificate of household business registration, taxpayer registration certificate, TIN notification, investment registration certificate, or certificate of cooperative registration.
+ If the buyer does not have a TIN, the invoice will not have the buyer's TIN.
(6) The name, unit, quantity, unit price, amount payable exclusive of VAT, VAT rate, total VAT amount calculated by each VAT rate, total VAT payable and total amount payable inclusive of VAT:
(7) Signatures of the buyer and the seller:
+ Tax authority-ordered printed invoices must bear the seller’s signature and seal (if any) and the buyer’s signature (if any)
+ With regard to e-invoices:
In case the seller is an enterprise or organization, the seller’s digital signature on the invoice is the digital signature of such enterprise or organization; in case the seller is an individual, it will be the digital signature of the individual or another person authorized by the individual.
In case an electronic invoice does not necessarily have the seller’s and the buyer’s digital signatures, the provisions in Clause 14 of this Article 3 shall apply.
(8) The issuance date of the invoice shall comply with the provisions in Article 9 hereof and be written in "ngày, tháng, năm” (day/month/year) format of the calendar year.
(9) The date of the digital signature on an e-invoice is the date on which the seller or buyer adds his/her digital signature to that e-invoice and expressed in "ngày, tháng, năm” (day/month/year) format of the calendar year. If the date of a digital signature on an issued e-invoice is different from the issuance date of the e-invoice, the tax declaration date shall be the issuance date of that e-invoice.
(10) The tax authority’s authentication codes on authenticated e-invoices shall comply with the provisions in Clause 2 Article 3 hereof.
(11) Fees and charges payable to state budget, discounts and sales promotions (if any) shall comply with the provisions in Point e Clause 6 of this Article and relevant contents (if any).
(12) Name and TIN of the invoice printing service provider shall be specified in tax authority-ordered printed invoices.
(13) Text, numbers and currencies on invoices:
+ The text on an invoice must be written in Vietnamese language. If foreign language text is necessary, it must be placed between parentheses ( ) or next to the Vietnamese text, in which case it must be smaller than the Vietnamese text. If the text has to be written in Vietnamese without diacritics, it must not cause the readers to misunderstand its contents.
+ Numbers on the invoice must be written in Arabic numerals: 0, 1, 2, 3, 4, 5, 6, 7, 8, 9. The seller may decide whether to use a period (.) as thousands separator and a comma (,) as a decimal separator, or vice versa.
+ The currency on invoices shall be VND, expressed as “D".
(14) Other contents of invoices
In addition to the contents specified in Clause 1 through 13 of this Article, enterprises, organizations, household or individual businesses may add their logos, brands, trademarks or photos to the invoices. Depending on characters or nature of each transaction and management requirements, the invoice may contain information about the sale contract, delivery order, customer code and other information.
Specifically, for e-invoices for retailing of oil and gas at the Petrolimex petroleum station system nationwide, from September 1, 2023, oil and gas invoices will have the additional content "license plate" of the customer.
For e-invoices for retailing of oil and gas to non-business individual customers, it is not necessary to have the criteria of invoice name, invoice form symbol, invoice symbol, invoice number; name, address, tax code of the buyer, electronic signature of the buyer; digital signature, electronic signature of the seller, value added tax rate.
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