The Ministry of Finance's direction regarding the implementation of e-invoices generated by POS cash registers in Vietnam

The Ministry of Finance's direction regarding the implementation of e-invoices generated by POS cash registers in Vietnam (Internet image)

On March 29, 2024, the Ministry of Finance issued Official Dispatch 3348/BTC-TCT on directing the implementation of e-invoices generated by POS cash registers in Vietnam.

The Ministry of Finance's direction regarding the implementation of e-invoices generated by POS cash registers in Vietnam

The tax sector has gradually achieved results in the digital transformation of tax management, contributing to the improvement of local administrative reform indices, in which, the implementation of e-invoicing is a key task of the Ministry of Finance in the digital transformation program; the Ministry has instructed the tax industry to develop solutions and officially operate the System of e-invoices generated by POS cash registers starting on December 15, 2022. Specifically:

(1) Objectives of implementing e-invoices generated by POS cash registers

In accordance with the Law on Tax Administration 2019, Decree 123/2020/ND-CP, and Circular 78/2021/TT-BTC, starting July 1, 2022, e-invoicing has been implemented nationwide for businesses and individual business households. 100% of businesses and individual business households operating in the retail sector directly serving consumers (shopping centers, supermarkets, retail stores, restaurants, hotels, retail pharmacies, entertainment services, and other services) have already adopted e-invoicing.

However, certain forms of e-invoicing, such as e-invoices with tax authorities' codes and e-invoices without tax authorities' codes, do not adequately meet the needs of specific activities with regular and continuous operations, with a low value per invoice but a high frequency of issuance, such as shopping centers, supermarkets, retail stores, restaurants, hotels, retail pharmacies, gold and silver trading, entertainment services, and other services. To support citizens and businesses in quickly, conveniently, and efficiently using e-invoicing, while enhancing tax management effectiveness, combating tax evasion in the retail sector, protecting consumer rights, and contributing to the digital transformation efforts, the Tax sector has officially implemented the solution of e-invoices generated by POS cash registers.

(2) Achievements in the past period

The implementation of e-invoices generated by POS cash registers has proven to be more suitable than other forms of e-invoicing for activities with regular and continuous operations and a low value per invoice but a high frequency of issuance, such as shopping centers, supermarkets, retail stores, restaurants, hotels, retail pharmacies, entertainment services, and other services.

During the implementation period of over a year, more than 40,000 businesses have applied the solution of e-invoices generated by POS cash registers, resulting in the issuance of over 104 million e-invoices from cash registers. The solution of e-invoices generated by POS cash registers has gradually become a part of people's lives, and citizens, businesses, and individual business households have started to adopt this new e-invoicing solution. The implementation of e-invoices generated by POS cash registers, combined with the "Lucky Invoice" program, will be a long-term effective solution in changing consumer habits towards civilized consumption, obtaining invoices when purchasing goods and services. Citizens and businesses are at the center of the digital transformation in tax management. Changing consumer habits to obtain invoices when purchasing goods and services is one of the factors that promote citizens and businesses to fully participate in digital social activities, aiming to achieve the government's goal of developing a digital society, providing citizens and businesses with more convenience in complying with tax laws and protecting consumer rights.

(3) Proposal from the Ministry of Finance

In the context of 2024, it is forecast that budget collection work will face many difficulties and challenges as our country's economy is highly open and therefore affected by multiple factors. Meanwhile, the global economy is experiencing increasing possibilities of recession and instability, rapid and unpredictable fluctuations in the economy, politics, and military affairs, and unpredictable natural disasters and epidemics. In the coming period, the Ministry of Finance hopes to continue to receive the attention and guidance of the Party Secretary, Chairman of the People's Committee of provinces and cities to fulfill the tasks of budget collection and digital transformation, including the implementation of e-invoices in general and e-invoices generated by POS cash registers in particular.

With that spirit, the Ministry of Finance respectfully proposes that the concerned leaders and authorities at all levels and relevant departments (Finance, Banking, Industry and Trade, Public Security, Information and Communications, Market Management, etc.) in the localities perform the following tasks well:

Firstly, direct the relevant agencies in the localities to coordinate with the tax authorities to implement solutions to prevent state budget losses, focusing on the non-state economic sector, with a particular focus on businesses directly serving retail consumers with a low issuance of invoices (such as dining, restaurants, hotels, gold and silver trading, etc.). Implement specialized inspections and handle violations by businesses that fail to issue invoices to buyers in a timely manner as prescribed.

Secondly, direct the local executive committees, authorities at all levels, and relevant departments to continue to closely coordinate with the tax authorities in implementing e-invoices in general and e-invoices generated by POS cash registers, which is linked to the lucky invoice program implemented nationwide by the Tax Sector.

Thirdly, coordinate with the tax authorities in reviewing businesses that are subject to the implementation of e-invoices generated by POS cash registers. In addition to the focus on dining and restaurant sectors that have been implemented since 2023, in 2024, it is necessary to expand the review and implementation to other specific sectors such as fuel, road tolls, golf services, cable cars, etc. to ensure favorable conditions for issuing e-invoices and protect consumers' rights to receive invoices when consuming goods and services.

Fourthly, coordinate with the tax authorities in conducting awareness campaigns for sellers and buyers about the benefits of using e-invoices initiated from cash registers in meeting the requirements of issuing invoices frequently, continuously, 24/7, and creating convenient conditions for buyers to easily obtain e-invoices to participate in the lucky invoice program of the Tax industry.

More details can be found in Official Dispatch 3348/BTC-TCT dated March 29, 2024.

Ho Quoc Tuan

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