What are regulations on issuance of authenticated e-invoices in Vietnam?

What are regulations on issuance of authenticated e-invoices in Vietnam?

According to the latest regulations, how shall authenticated e-invoices in Vietnam be issued?

Answer:

Pursuant to Clause 1 Article 17 of the Decree 123/2020/NĐ-CP stipulating issuance of authenticated e-invoices in Vietnam as follows:

- If enterprises, business entities, other organizations, household or individual businesses prescribed in Clause 1 Article 14 hereof wish to access the web portal of the General Department of Taxation to create invoices, they can use their log-in accounts granted after they complete their registration, following the steps below:

+ Create sales and service invoices.

+ Append digital signatures to created invoices and send such invoices to the tax authority for its issue of authentication codes.

- In case of use of authenticated e-invoices through e-invoice service providers, enterprises, business entities, other organizations, household or individual businesses shall access the websites of these e-invoice service providers or use their e-invoice software to:

+ Create sales and service invoices.

+ Append digital signatures to created invoices and send such invoices through e-invoice service providers to the tax authority for its issue of authentication codes.

Above are regulations on issuance of authenticated e-invoices in Vietnam.

How shall e-invoices in Vietnam be stored and retained?

I want to ask how e-invoices in Vietnam shall be stored and retained. Thank you!

Answer:

Pursuant to Clause 2 Article 6 of the Decree 123/2020/NĐ-CP stipulating storage and retention of invoices and records in Vietnam as follows:

E-invoices/electronic records shall be stored and retained by electronic instruments. Authorities, organizations and individuals are entitled to select and apply methods for storage and retention of e-invoices/electronic records in conformity with their specific operations and capacity to apply information technology. They must be printed out or search upon request.

As regulations above, e-invoices in Vietnam shall be stored and retained by electronic instruments.

What are regulations on conversion of e-invoices into paper invoices in Vietnam?

Answer:

Pursuant to Article 7 of the Decree 123/2020/NĐ-CP stipulating conversion of e-invoices/electronic records into paper invoices/records in Vietnam as follows:

1. Legal e-invoices/electronic records may be converted into paper invoices/records to meet the requirements of economic/financial transactions or at the request of tax authorities, audit, inspection or investigation authorities, and in accordance with regulations of laws on inspection and investigation.

2. Contents of a paper invoice or record which is converted from an e-invoice or electronic record must correspond to those of the original e-invoice or electronic record.

3. In case where an e-invoice or electronic record is converted into a paper invoice or record, this paper invoice or record shall be retained for bookkeeping and monitoring purposes only in accordance with regulations of the Laws on accounting and electronic transactions, and shall not be valid for use in transactions or payments, except for cases where invoices are generated from POS cash registers that are digitally connected to tax authorities in accordance with the provisions herein.

Best regards!