Vietnam's new regulations on sales invoices of extra-small enterprises

12:50, 11/01/2019

The Ministry of Finance of Vietnam issued Circular No. 132/2018/TT-BTC providing guidance on accounting regimes of extra-small enterprises.

According to Circular No. 132/2018/TT-BTC of the Ministry of Finance of Vietnam, a sales invoice is an accounting document recording completed sales of goods or services. Sales invoices may be either VAT invoices or sales receipts, specifically as follows:

- With respect to extra-small enterprises paying VAT according to the withholding method, sales invoices issued to clients shall be VAT invoices.

- With respect to extra-small enterprises paying VAT according to the income method, sales invoices issued to clients shall be sales receipts.

Sales invoices issued by extra-small enterprises to clients upon sale of goods or services shall serve as a basis for determining their CIT obligations to the State Budget.

View regulations related to sales invoices at Circular No. 132/2018/TT-BTC of the Ministry of Finance of Vietnam, effective from February 15, 2019.

- Thanh Lam -

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