Some 3,000 firms now use e-invoices in Vietnam.(Source: enternews.vn) Hanoi (VNA) -The number of firms using e-invoice has increasedsignificantly in recent years due to its convenience and cost effectiveness.
Statistics of the General Department of Taxation show that currently, some3,000 firms use e-invoice, an increase from 656 firms in 2016.
Nguyen Van Phung, Director of the Large Taxpayers Management Office under theGeneral Department of Taxation, said the use of e-invoice helped save time andcosts for businesses while limiting billing frauds and simplifyingadministrative procedures.
The general department estimated with some 2.5 billion invoices used in a year,firms could save 1 trillion VND (43.9 million USD) if they switched toe-invoice.
According to Tran Thi Lan Anh, General Secretary of the Vietnam Chamber ofCommerce and Industry, the application of information and technology (IT) inbusiness, specifically e-invoice, was a common trend among advanced economiesin the world.
The improving IT infrastructure system was creating favourable conditions forthe use of e-invoices, she said.
Anh also said Vietnamese firms needed to promote the application of newtechnology solutions to enhance management and competitiveness.
There are more than 500,000 businesses in Vietnam. Thus, the number of firmsusing e-invoice is still modest.
The Ministry of Finance is drafting a new circular on e-invoice which is likelyto come into effect from July 1.
The draft will make e-invoice compulsory for enterprises, organisations andState agencies.
In some special cases where an e-invoice cannot be used, tax authorities willprint the invoice for enterprises.-VNA
VNA
