Vietnam: 07 general rules for the development of the invoice/record information

17:00, 24/10/2020

On October 19, 2020, the Government of Vietnam issued the Decree No. 123/2020/NĐ-CP prescribing invoices and records.

According to Article 41 of the Decree No. 123/2020/NĐ-CP of Vietnam’s Government, there are 07 general rules for the development of the invoice/record information, including:

1. Invoice/record information systems shall be uniformly developed and managed by central and local authorities, and conformable with IT technical regulations and standards.

2. The invoice/record database shall facilitate tax administration and other state management tasks; facilitate socio-economic development; ensure safety, security and national security.

3. Invoice/record information and data shall be collected, updated, maintained, accessed and used on a regular basis; be accurate, truthful and objective.

4. The development, management, use and update of the invoice/record database shall be accurate, scientific, objective and in a timely manner.

5. The invoice/record database shall be developed, connected and shared electronically in order to ensure convenient and effective management, provision and use of information and data.

6. Invoice/record information and data shall be used for their intended purposes and in accordance with regulations of law.

7. The invoice/record database shall be connected and exchanged with information systems and databases of relevant ministries, central and local authorities.

View more details at the Decree No. 123/2020/NĐ-CP of Vietnam’s Government, effective from July 01, 2022.

Le Vy

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