Except for several special cases, all enterprises, business households and individuals must use e-invoices instead of paper invoice starting from July 1, according to a circular issued by the Finance Ministry.
As many as 764,314 firms, or more than 92 percent of Vietnamese total, have registered to convert to electronic invoices, according to deputy head of the General Department of Taxation Dang Ngoc Minh.
As many as 263,182 businesses registered to use e-invoices after one month of piloting e-invoices in six provinces and cities, accounting to 71 percent of the total enterprises and organisations in the localities, according to the General Department of Taxation (GDT).
The General Department of Taxation on November 21 started to issue electronic invoices (or e-invoices) in Hanoi, Ho Chi Minh City, Hai Phong, Quang Ninh, Phu Tho, and Binh Dinh.
Commercial centres, supermarkets, restaurants, and pharmacies will use electronic invoices generated by cash registers and connected to tax authorities from July 1 next year.
The Hanoi Department of Taxation has worked with software solution providers to support businesses in introducing e-invoices, towards the target that all local companies will switch to e-invoices from late September.
The Ministry of Finance (MoF) has proposed fines of between 20 million VND (862 USD) and 50 million (2,155 USD) for the act of printing fraudulent invoices.
The People’s Court of the northern province of Phu Tho announced on October 29 that it would be holding the first instance trial on November 12 for 92 people accused of involvement in a major online gambling ring.
The Malaysian government of new Prime Minister Mahathir Mohamad, who pledged to abolish the Goods and Services Tax (GST) during the election campaign, has announced that the rate will be cut from 6 percent to zero percent from June 1.
The Vietnam National Petroleum Group (Petrolimex) is ready to issue e-invoices to customers from April 1, according to Deputy General Director Tran Ngoc Nam.
The General Department of Taxation (GDT) is considering asking the Ministry of Finance to postpone the compulsory application of e-invoices until July 2019, instead of early next year.
The Ministry of Finance is drafting regulations on e-bills and will ask the Government to set a deadline of July 2018 for businesses to switch over from paper. But local businesses say they don’t have the information technology resources to meet the proposed deadline.
The General Department of Taxation has ruled that from 2018, firms will have to obtain their invoices from the department instead of printing their own.
Vietnam Post and Telecommunications Group (VNPT) is introducing its health information system (HIS) at the four-day International Communications and Information Technology Exhibition in Singapore.
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