In February 2022, the Ministry of Finance of Vietnam released a draft Decree on tax administration (Draft Decree Tax Administration) to solicit public comments. It amends some articles of Decree 126/2020 guiding the Law on Tax Administration and Decree 123/2020 on invoices. It includes:
- Separate VAT invoices under Decree 15
- Under Decree 15, enterprises are required to issue separate VAT invoices for goods and services which are eligible for the 2% VAT rate reduction. It means that to be entitled to the VAT reduction, an enterprise needs to issue two VAT invoices: one for goods and services subject to the 8% VAT and one for goods and services subject to other VAT rates. In case an enterprise fails to make separate invoices, the VAT reduction will not be applicable.
- Difficulties in the Issuance of Separate VAT Invoices
Source: mondaq
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