Business

Vietnam records 47.6-fold increase in electronic invoices

The General Department of Taxation has reported a surge in the number of electronic invoices directly generated from cash registers, reaching a remarkable 104.8 million last year which represented a 47.6-fold increase compared to the initial implementation period.
Vietnam records 47.6-fold increase in electronic invoices ảnh 1Illustrative photo (Photo: VNA)

Hanoi (VNA) – The General Departmentof Taxation has reported a surge in the number of electronic invoices directly generated fromcash registers, reaching a remarkable 104.8 million last year which representeda 47.6-fold increase compared to the initial implementation period.

By the end of last year, thecountry recorded 40,355 businesses registering to use electronic invoicesgenerated from cash registers, or 94.36% of the planned target.

General Director of the generaldepartment Mai Xuan Thanh said the sector has rolled out the e-invoice system in2021, contributing to reforming administrative procedures, reducing costs and improvingbusiness productivity.

Nguyen Thi Lan Anh, head of the TaxAdministration Department for Small and MediumEnterprises, BusinessHouseholds and Individuals,said several local tax authorities have achieved highresults in the initiative, such as Ho Chi Minh City, Hanoi, Dong Nai and QuangNinh.

Inconcerted efforts to facilitate the widespread adoption of electronic invoicesgenerated from cash registers nationwide, tax authorities have embarked oncampaigns to encourage taxpayers to seamlessly transition to and embrace thisinnovative form of invoicing, she added./.

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