Regulations on management of risks in managing invoices, records in Vietnam

Bao Ngoc

10:31, 19/05/2021

Below is the remarkable new content at Circular 31/2021/TT-BTC stipulating regulations on management of risks in managing invoices, records in Vietnam

According to the Circular, based on the list of taxpayers classified by risk levels in the management of invoices and documents in Article 13 of Circular 31, the tax authority shall apply the following management measures:

- High risk:

Include high-risk taxpayers in the list of taxpayers to be reviewed or subject to inspection at tax authorities;
Consider placing them under the annual plan for inspection or audit of taxpayers at their premises according to the Law on tax administration, its guiding documents and relevant legislative documents;
Based on inspection or audit results, taxpayers are requested to buy invoices from tax authorities, or use authenticated e-invoices or comply with other invoice management measures in accordance with regulations in force;
Tax authorities shall decide the form of invoices used by taxpayers that use invoices for the first time.

- Medium and low risks: Select samples for reviewing, inspecting, processing and assisting taxpayers in strictly complying with regulations of law on invoices.

Circular 31/2021/TT-BTC takes effect from July 2, 2021.

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