- The Ministry of Finance has released a third draft decree to amend Decree No. 123/2020/ND-CP on invoicing, and it is open for public comments.
- Proposed changes include additional rules for certain types of e-invoices, such as requiring Export Processing Enterprises (EPEs) engaged in VAT-liable business activities to use VAT invoices or sales invoices.
- E-commercial invoices can be used for exported goods/services, and e-invoices generated at points of sales will have clarified guidelines, including required content and the addition of QR codes for buyers to search invoices.
- Regarding invoice issuance timing, for exported goods, e-commercial invoices should be issued by the working day after customs clearance if electronic data transfer conditions are met. Otherwise, e-VAT invoices should be issued. Various cases requiring more time for data reconciliation, such as rail transport, TV advertising, banking (excluding lending), international money transfers, securities, etc., are addressed.
- The timing of tax declaration is set for sellers at the time of invoice issuance and for buyers when the invoice meets content requirements. Handling incorrect invoices involves removing the regulation on canceling e-invoices without sending them to the buyer, notifying the tax authority about errors in the buyer’s name/address, and issuing adjustment or replacement invoices for errors in tax code, amount, rate, or goods specification. Handling correct invoices includes issuing adjustment invoices for refunds/reductions in insurance brokerage fees and issuing new e-invoices for value/volume changes after actual payment. In sales returns, the seller must issue an adjusted invoice upon receiving returned goods, and the buyer must issue an invoice if the return is agreed upon or if the property/goods were registered in the buyer’s name.
Source PwC
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
