The Ministry of Finance has recently submitted a proposal to the Government of Vietnam regarding the recommendation to develop a Decree to replace Decree 51/2010/ND-CP, Decree 04/2014/ND-CP on sales invoices, and supply of services. This proposal includes a summary of the outcomes achieved from the implementation of the aforementioned decrees, results of the pilot implementation of electronic invoices/electronic invoices with codes from the tax authorities, and main policy content of the Decree to replace Decree 51/2010/ND-CP, Decree 04/2014/ND-CP on invoices.
Article table of contents
The use of electronic invoices/electronic invoices with tax authority codes is considered to bring about good results and practical efficiency. To be specific:
- For the use of electronic invoices:- Saves time and costs for businesses; promotes the application of information technology in business management, accounting, enhances production efficiency, business quality, service quality, and increases the competitiveness of businesses.- From the perspective of customers: changes the habit of using paper invoices, helps customers make payments conveniently, allows customers to access the seller's website to view and download invoices when needed, hence customers do not need to store and manage invoices, avoiding the risk of losing them and saving costs by not having to print them on paper.- For the use of electronic invoices with tax authority codes:- Helps businesses reduce time for tax administrative procedures; reduces costs for businesses; resolves the issue of counterfeit invoices.
Roadmap and subjects using electronic invoices, electronic invoices with tax authority codes
With the goal of achieving basic implementation of electronic invoices by 2020, covering approximately 90% of businesses or 90% of goods transactions (circulated) using electronic invoices, the implementation roadmap from 2018 is as follows:
From January 1, 2018: The following subjects shall use electronic invoices/electronic invoices with tax authority codes for the sale of goods and services provision:
- Enterprises, public service providers shall use electronic invoices from the date they get a tax code and periodically transfer invoice data to the tax authority including:- Enterprises established under the law in industrial zones, economic zones, export processing zones, high-tech zones.- Public service providers engaged in production and business according to the law.- Enterprises, banks with a registered capital of 15 billion VND or more based on the actual contributed capital at the time of invoice issuance notification, including branches and affiliated units in other provinces and cities performing VAT declaration and payment.- Enterprises and organizations using electronic invoices with authentication codes from the tax authority include:- Newly established enterprises (excluding the ones mentioned above);- Enterprises and organizations purchasing invoices from the tax authority including: Enterprises violating invoice management and usage; enterprises deemed at risk according to the tax authority's notification and other enterprises, organizations buying invoices from the tax authority before January 1, 2018, must use electronic invoices with tax authority codes as per the notification from the tax authority.
From January 1, 2019: 30% of the remaining enterprises and organizations.
From January 1, 2020:
- 80% of enterprises and organizations shall use electronic invoices, electronic invoices with tax authority codes.- Begin implementing electronic invoices for business households with annual revenue of 3 billion VND or more.
