When is the issuance time of invoices for the sale of goods and supply of services?

When to Issue Invoices for Sales of Goods and Service Provision? (Illustrative Image)

According to the Draft Decree on invoices and documents, the timing for issuing invoices is determined as follows:

- The timing for issuing invoices for the sale of goods (including the sale of state-owned assets, confiscated assets, assets allocated to state funds, and sales from national reserves) is the time of transfer of ownership or right to use the goods to the buyer, regardless of whether the money has been received or not.

- The timing for issuing invoices for service provision is the time the service is completed or the time the service provision invoice is issued, regardless of whether the money has been received or not.

In cases of multiple deliveries or handovers of each item, service phase, an invoice must be issued for each delivery or handover corresponding to the volume and value of goods or services delivered.

- The timing for issuing invoices in specific cases is as follows:

- For activities providing electricity, water, telecommunications services, television services, information technology services sold according to a definite cycle, the invoice issuance time is no later than seven (7) consecutive days from the date of recording the electricity or water consumption on the meter or the end date of the cycle for the provision of telecommunications, television, and information technology services. The cycle for calculating the quantity of goods or services provided is based on the agreement between the service provider and the buyer.

- For construction and installation activities, the invoice issuance time is the time of acceptance and handover of the project, project item, construction volume, and installation completed, regardless of whether the money has been received or not.

- For real estate business organizations, infrastructure construction, and building construction for sale or transfer:

- The timing for issuing invoices for organizations purchasing air transport services through websites and e-commerce systems is no later than five (5) consecutive days from the date the air transport service documents are issued on the website and e-commerce system.

- For activities related to oil, condensate, and natural gas exploration, extraction, the timing for issuing invoices for the sale of crude oil, condensate, natural gas, and refined oil products is based on provisions in Clause 1 and Clause 3 of this Article, regardless of whether the money has been received or not. In the case of price change upon determining the official selling price, the seller issues a replacement invoice for the previously issued invoice.

- The timing for issuing electronic invoices is determined based on the time the seller digitally signs the invoice, displayed in the format of day, month, year of the Gregorian calendar and in accordance with the guidelines.

More details can be found in the Draft Decree on invoices and documents, effective from September 15, 2020.

Thuy Tram

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