Strict implementation of regulations on electronic invoices for business activities, retail of petroleum in Vietnam

Strict implementation of regulations on electronic invoices for business activities, retail of petroleum in Vietnam​ (Image from the internet)

On March 26, 2024, the Prime Minister the Government of Vietnam issued Official Telegram 26/CD-TTg on strengthening measures to manage petrol and oil commodities and strictly implementing regulations on e-invoicing for petrol and oil retail and business activities.

Strict implementation of regulations on electronic invoices for business activities, retail of petroleum in Vietnam

To further enhance the efficiency of petrol and oil management and operations, ensure sufficient supply for the domestic market, and strictly enforce regulations on the management and use of e-invoices for petrol and oil retail and business activities, the Prime Minister the Government of Vietnam requests that the Minister of Industry and Trade, the Minister of Finance, the Chairman of the State Capital Management Committee at Enterprises, the Chairman of the People's Committees of provinces and centrally-run cities, the Chairmen, General Directors: Vietnam National Oil and Gas Group, Vietnam National Petroleum Group, Binh Son Refining and Petrochemical Company, Nghi Son Refinery and Petrochemical Limited Liability Company, the Chairman of the Vietnam Petroleum Association, and heads of relevant ministries and agencies to strictly, fully, decisively, promptly, and effectively carry out the tasks and solutions assigned in the Government's Resolutions, Official Telegrams, and the directives of the Prime Minister the Government of Vietnam mentioned above; focusing immediately on the following key tasks and solutions:

(1) Minister of Industry and Trade

- Regularly monitor and understand the global and domestic petrol and oil market situation to proactively implement early and remote measures within authority and regulations to meet the demand for petrol and oil for production, business, and consumption, absolutely preventing shortages and disruptions in the petrol and oil supply in any situation.

- Direct petrol and oil businesses and retailers nationwide to fully comply with legal provisions on petrol and oil business; strictly implement regulations on e-invoicing for petrol and oil retail and business activities, especially in issuing e-invoices at petrol and oil retail stores for customers on each sale and providing e-invoice data as required. Simultaneously continue to research more simplified payment methods through the robust and thorough application of digital transformation in e-invoicing connected with the tax sector.

- Collaborate with the Ministry of Finance and People's Committees of provinces and centrally-run cities according to assigned functions and tasks to direct functional forces in handling non-complying petrol and oil businesses on e-invoicing, including requesting business suspensions and revoking business licenses, and certificates for eligibility in petrol and oil business according to the Government's directives in Resolution 28/NQ-CP on March 5, 2024; coordinating comprehensive solutions to ensure the domestic petrol and oil supply for the market.

- Urgently chair, cooperate with relevant ministries and agencies to review, evaluate comprehensively, and propose drafting a Decree to replace existing Decrees on petrol and oil business following the directives of the Standing Committee the Government of Vietnam in Notification 172/TB-VPCP on October 14, 2023, and according to the Law on Promulgation of Legal Normative Documents, meeting practical requirements and government management work, harmonizing the interests of the state, people, and businesses; submit to the Government in Q2 of 2024.

(2) Minister of Finance

- Chair, cooperate with the Ministry of Industry and Trade, the Ministry of Public Security, People's Committees of provinces and centrally-run cities, and related ministries, agencies, and localities to promptly implement decisive, comprehensive, effective measures requiring petrol and oil businesses to strictly implement e-invoicing regulations, issue e-invoices on each sale at petrol and oil retail stores, and connect data with tax authorities as required. Strongly promote and thoroughly implement digital transformation in e-invoicing connected with tax authorities.

- Direct tax authorities to cooperate with public security agencies and other related agencies to intensify inspections and checks on the implementation of e-invoicing regulations, issuing e-invoices at petrol and oil retail stores according to legal conformity and the Government's directives in Resolution 28/NQ-CP on March 5, 2024, and other related directives from the Prime Minister Government of Vietnam; promptly, strictly handle according to legal regulations in case of non-implementation or intentional non-implementation.

- Continue to chair, cooperate with the Ministry of Industry and Trade and key petrol and oil traders to review and decide on adjustments to related costs in the petrol and oil base price calculation formula as conformed in Decrees on petrol and oil business and related legal regulations, aligning with global petrol and oil market developments and businesses' production and business activities.

(3) Minister of Information and Communications closely cooperate with the Ministers of: Industry and Trade, and Finance to direct press agencies and coordinate with the Vietnam Television, Voice of Vietnam, and Vietnam News Agency to promptly and officially inform the public about the directives and policies of the Government and relevant ministries, branches, and localities on managing and operating petrol and oil commodities, ensuring petrol and oil supply, and implementing legal regulations on e-invoicing to achieve public consensus, avoiding misinformation that causes market instability. The Ministry of Industry and Trade and the Ministry of Finance actively and promptly provide information to the Ministry of Information and Communications and press agencies as required.

(4) The Chairman of the State Capital Management Committee at Enterprises closely coordinates with the Ministry of Industry and Trade to direct the Vietnam National Oil and Gas Group, Vietnam National Petroleum Group to promptly implement the issuance of e-invoices at petrol and oil retail stores for each sale and provide e-invoice data as required and connect with tax authorities through digital transformation; have production, storage, distribution, and regulation plans appropriate and effective, ensuring no shortage in the petrol and oil supply for the market.

(5) The National Steering Committee 389, Ministers of: Industry and Trade, Finance, Public Security, Chief Inspector Government of Vietnam, Chairmen of People's Committees of provinces and centrally-run cities, and heads of relevant agencies must, within their functions and duties, enhance inspection and supervision to promptly detect, prevent, strictly handle according to legal regulations, behaviors of hoarding, smuggling petrol and oil across borders, commercial fraud, violations of petrol and oil business regulations, and e-invoicing regulations; continue to closely monitor petrol and oil business activities (quality, sales time, retail price, using the petrol and oil price stabilization fund...); and simultaneously facilitate conditions for traders to carry out business, transportation, circulation, and distribution of petrol and oil and ensure security, social safety order in the area as prescribed.

(6) Chairmen of People's Committees of provinces and centrally-run cities must enhance directing local departments, branches to closely coordinate with tax authorities, public security, industry and trade agencies, and related agencies to strengthen management, inspection, supervision, detecting, and strictly handling violations, non-implementation or intentional non-implementation of e-invoicing regulations connected with tax authorities through digital transformation for petrol and oil retail activities in the locality according to the directives the Government of Vietnam in Resolution 28/NQ-CP on March 5, 2024, and the Prime Minister the Government of Vietnam in Official Telegram 1123/CD-TTg on November 18, 2023, and number 1284/CD-TTg on December 1, 2023.

(7) Chairmen, General Directors of: Vietnam National Petroleum Group, Binh Son Refining and Petrochemical Company, Nghi Son Refinery and Petrochemical Limited Liability Company must actively build production plans, business methods, safely operating, stable, and efficient factories; closely follow the global and domestic petrol and oil market situation, proactively handle promptly arising situations within authority, and report to higher authorities if beyond their authority, ensuring adequate petrol and oil supply for the market as planned and legally required.

(8) The Vietnam Petroleum Association must enhance information work on the developments of the global petrol and oil market to members, ensuring accurate, timely information, contributing to creating a business orientation basis for petrol and oil traders. Thoroughly instruct members to fully comply with the rights, obligations, responsibilities, and business ethics of traders as specified in Decrees on petrol and oil business and other related law regulations, especially in strictly, fully, timely implementing e-invoicing regulations connected with tax authorities for petrol and oil business activities as directed by the Government of Vietnam and the Prime Minister the Government of Vietnam.

More details can be found in Official Telegram 26/CD-TTg on March 26, 2024.

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