How many types of receipts for non-cash payments are there in Vietnam?

What are receipts for non-cash payments in Vietnam?

[1] Receipts for non-cash payments are documents and objects that carry information that reflect the economic and financial operations that have arisen and have been completed, and are used as a basis for making payments.

Receipts for non-cash payments play an important role in the financial and economic management of businesses, organizations and individuals. Receipts for non-cash payments help record, check, compare, and store information about economic and financial operations accurately and conveniently.

[2] Receipts for non-cash payments are documents and objects that carry information reflecting financial and economic operations that have arisen and have been completed, used as a basis for making payments without using cash.

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How many types of receipts for non-cash payments are there in Vietnam? (Image from the Internet)

How many types of receipts for non-cash payments are there in Vietnam?

According to Article 15 of Circular 219/2013/TT-BTC amended by Clause 10, Article 1 of Circular 26/2015/TT-BTC, conditions for input value added tax deduction are as follows:

Conditions for deducting input value-added tax

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2. Proofs non-cash payments for the purchases (including imported goods) that cost VND 20 million or more, except for the imports that cost below VND 20 million each, purchases that cost below VND 20 million inclusive of VAT, and imports being gifts, donations from overseas entities.

Receipts for non-cash payments include bank transfer receipts and other receipts for non-cash payments prescribed in Clause 3 and Clause 4 of this Article.

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According to this Article, there are 02 types of Receipts for non-cash payments: bank transfer receipts and other receipts for non-cash payments, specifically:

[1] Bank transfer receipts: are documents proving the transfer of money from the buyer's account to the seller's account opened at payment service providers according to appropriate payment methods in accordance with current legal regulations such as checks, payment orders or payment orders, collection orders, collection orders, bank cards, credit cards, phone sims (e-wallets) and other forms of payment according to regulations.

[2] Otherreceipts for non-cash payments:

Other receipts for non-cash payments to deduct input VAT include:

- In case of goods and services purchased by clearing payment method between the value of goods and services purchased and the value of goods and services sold, or borrowing goods, this payment method is regulated in the contract.

In case of debt clearing through a third party, there must be a debt clearing record of the three parties as a basis for tax deduction.

- In case of goods and services purchased by debt offsetting method such as borrowing or borrowing money; Offsetting debts through a third party whose payment method is specifically stipulated in the contract.

- In case purchased goods and services are authorized for payment through a third party, payment is made via bank.

- In case purchased goods and services are paid via bank to a third party account opened at the State Treasury to carry out enforcement by collecting money and assets held by other organizations or individuals.

What are conditions of receipts for non-cash payments in Vietnam?

According to Article 4 of Circular 46/2014/TT-NHNN, regulations on Receipts for non-cash payments are as follows:

Receipts for non-cash payments

1. The documents used for payment shall be prepared, signed, verified, circulated, managed, used and preserved in accordance with regulations on bank accounting documents and regulations of this Circular.

2. Documents used for payment through the State Bank shall comply with the State Bank's regulations on form, printing, promulgation and use.

3. Documents used for bank payment, people’s credit funds and microfinance institutions shall have their own forms, ensuring conformity with payment procedures applied to each type of service according to this Circular and relevant regulations of law.

4. Information and data included in electronic documents shall be verified in terms of legitimacy and integrity. Documents shall be verified and secured to prevent and avoid unauthorized access and copying.

According to this Article, receipts for non-cash payments in banks need the following conditions:

- The documents used for payment shall be prepared, signed, verified, circulated, managed, used and preserved.

- Documents used for payment through the State Bank shall comply with the State Bank's regulations on form, printing, promulgation and use.

- Documents used for bank payment, people’s credit funds and microfinance institutions shall have their own forms, ensuring conformity with payment procedures applied to each type of service

- Information and data included in electronic documents shall be verified in terms of legitimacy and integrity.

- Documents shall be verified and secured to prevent and avoid unauthorized access and copying.

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