Separate invoices not mandatory for goods eligible for 8% VAT in Vietnam

Separate invoices not mandatory for goods eligible for 8% VAT in Vietnam
Châu Thanh

The Government of Vietnam promulgated Decree No. 41/2022/NĐ-CP amending Decree No. 15/2022/NĐ-CP on VAT reduction from 10% to 8%.

The Decree amends regulations on creating invoices for goods and services which are eligible for VAT reduction from 10% to 8% as follows:

- In case business establishments pay VAT using the credit-invoice method, upon providing goods and services subject to different VAT rates, VAT rates applied to each of them must be clarified on the VAT invoices.

- In case business establishments pay VAT using the direct method as a percentage (%) of revenue, upon providing goods and services, deducted amount must be clarified on sales invoices as prescribed.

(Previously, Decree No. 15/2022/NĐ-CP prescribed that business establishments must create separate invoices for goods and services which are eligible for VAT reduction. 

In case business establishments fail to create separate invoices for goods and services which are eligible for VAT reduction, they shall receive no VAT reduction).

Thus, on the basis of amended contents in Decree No. 41/2022/NĐ-CP, separate invoices for goods which are eligible for VAT from 10% to 8% are not mandatory.

In case business establishments have issued invoices according to the above regulations from February 01, 2022 to June 20, 2022, they will still be eligible for VAT reduction, will not have to revise invoices and will not incur administrative penalties for tax- and invoice-related offences.

Decree No. 41/2022/NĐ-CP comes into force from June 20, 2022.


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