What is petroleum e-invoice? Contents on petroleum e-invoice in Vietnam

Regarding this matter, LawNet would like to answer as follows:

What is petroleum e-invoice?

To answer the question "What is petroleum e-invoice", we need to clearly understand the concept of e-invoices.

According to Article 3 of Decree 123/2020/ND-CP, e-invoices are defined as follows:

"“e-invoice” means an invoice, with or without the tax authority’s authentication code, in the form of electronic data, issued by the goods seller or service provider by using electronic instruments to record information on the sale of goods or service provision in accordance with regulations of the Law on accounting and the Law on taxation, including the invoices generated by POS cash registers that are digitally connected to tax authorities. ".

Thus, we can understand that a petroleum e-invoice is an invoice, with or without the tax authority’s authentication code, in the form of electronic data, issued by the petroleum provider by using electronic instruments to record information on the sale of petroleum in accordance with regulations of the Law on accounting and the Law on taxation, including the invoices generated by POS cash registers that are digitally connected to tax authorities, in which:

- A authenticated petroleum e-invoice is an invoice granted an authentication code by the tax authority before it is sent to the buyer by the goods seller or service provider.

The authentication code on a petroleum e-invoice is a unique serial number generated by the tax authority’s system and a series of characters encoded by the tax authority based on the information specified by the seller on the invoice.

- An unauthenticated petroleum e-invoice means an e-invoice that is sent to the buyer by the petroleum provider without the tax authority’s authentication code.

Contents on petroleum e-invoice in Vietnam

According to Article 10 of Decree 123/2020/ND-CP, petroleum e-invoice will include the following contents:

- Name, reference number and form number of the invoice. To be specific:

+ The name of the petroleum e-invoice: is the name of each type of invoice displayed on each invoice.

For instance: VAT invoice, VAT invoice cum tax refund declaration, ...

+ Form number and reference number of the invoice shall comply with Article 4 of Circular 78/2021/TT-BTC.

- 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.

- The seller’s name, address and TIN.

- The buyer’s name, address and TIN (In case the buyer does not have a TIN, the invoice does not have to show the buyer's TIN).

- 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;

- Seller's signature, buyer's signature.

- The issuance date of the invoice: displayed in the format of day, month, year of the calendar year.

- 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.

- The tax authority’s authentication codes (for petroleum e-invoice with tax authority’s authentication codes).

- Fees and charges payable to state budget, discounts and sales promotions (if any).

- Name and TIN of the invoice printing service provider shall be specified in tax authority-ordered printed invoices.

- Text, numbers and currencies on invoices

*Note:

- An electronic invoice does not necessarily have the buyer’s electronic signature, even if goods/services are sold overseas

In case the buyer is a business establishment and both the buyer and the seller agrees to use digital or electronic signatures on the e-invoice issued by the seller, the invoice shall bear the buyer’s and the seller’s digital or electronic signatures as agreed.

- E-invoices for sale of oil and gas to non-business individuals do not necessarily bear the name, form number, reference number, and number of the invoice; the buyer’s name, address, TIN, electronic signature; the seller’s digital or electronic signature; VAT rate.

Best regards!

Key word: invoice | e-invoice | petroleum e-invoice | in Vietnam | Vietnam |

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