Vietnam: Enterprises and business entities must share and connect information and data of electronic invoices

According to Article 58 of the Decree No. 123/2020/NĐ-CP of Vietnam’s Government, responsibilities for data and information sharing and connection are prescribed as follows:

- Enterprises and business entities doing business in the following sectors: electricity, petroleum, post and telecommunications, air transport, road transport, rail transport, sea transport, inland water transport, clean water, finance and credit, insurance, healthcare, electronic commerce, supermarket business or trading shall use e-invoices and provide e-invoice data according to data formats announced by the General Department of Taxation.

- Credit institutions and payment service providers shall provide electronic data about payment transactions through accounts of organizations or individuals at the written request of tax authorities, and provide information about their clients in accordance with regulations of the Law on banking.

- Manufacturers and importers of products subject to excise tax that are required to use stamps by laws shall make connections of information about printing and use of stamps and electronic stamps with tax authorities. Information about printing and use of electronic stamps shall serve as a basis for formulation, use and management of the e-invoice database. Entities using electronic stamps shall pay fees for printing and use of electronic stamps in accordance with regulations adopted by the Minister of Finance.

- Organizations and entities such as Market Surveillance Agency, General Department of Land Administration, General Department of Geology and Minerals of Vietnam, public security, transport and health authorities and other entities concerned shall make connections to share data and information necessary for use within their authority with the General Department of Taxation in order to set up the e-invoice database.

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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