What are rules for managing and using invoices and records in Vietnam?

What are rules for managing and using invoices and records in Vietnam? (Illustrative image)

To be specific, Draft Decree stipulates on invoices and records that the issuance, management, and use of invoices and records must ensure several rules as follows:

- When deducting personal income tax, when collecting other amounts belonging to the state budget, the tax deduction organization, the collection organization of other amounts belonging to the state budget must issue records, hand them to the payer, and must fully record the contents as stipulated in Article 35 of this Decree.

- Before using invoices and records, enterprises, economic organizations, other organizations, households, and individual businesses must register their use with the tax authorities or notify the issuance as stipulated in this Decree, except for purchasing invoices printed by the tax authorities.

- Organizations and individuals, in the process of use, if they discover the loss of purchased invoices from the tax authority, the loss of pre-printed, self-printed records, whether issued or not issued, must report to the directly managing tax authority as stipulated in Article 31 and Article 42 of this Decree.

- The registration, management, and use of electronic invoices, electronic records must comply with the legal regulations on electronic transactions, accounting, tax, tax management, and regulations stated in this Decree.

- Invoice data when selling goods, providing services, record data when performing transactions: paying taxes, other collections belonging to the state budget is the database to serve the tax management work and provide invoice and record information to relevant organizations and individuals.

More details can be found in DraftDecree stipulating on invoices and records.

Thuy Tram

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