The new draft will replace Decree No.51/2010/ND-CP and Decree No. 04/2014/ND-CP on invoices for the sale of goods and services to facilitate the implementation of electronic invoices (einvoices). Invoices already printed will be allowed until 2018.
In 2016, a number of firms introduced a program for einvoices, leading to savings and increased efficiency. The number of companies using einvoices has increased from 30 in 2011 to 331 in 2015 and 656 in 2016. The number of einvoices issued also increased from 9,014 in 2011 to 277 million in 2016.
The following businesses will be required to use einvoices, from 1 January 2018: companies located in industrial zones, economic zones, export processing zones, high-tech zones; companies and banks with a contributed charter capital of VND15 billion or more.
The following businesses will be required to use e-invoices with verification codes issued by the tax authorities from 1 January 2018: newly established companies not falling into the above groups; businesses purchasing invoices from the tax authorities, which are specifically requested by the tax authorities to use e-invoices with verification codes.
From 1 January 2019, 30% of all remaining business will be required to issue einvoices and by 1 January 2020, 90% of businesses will be required to use einvoices.
Enterprises can use freely available invoicing software launched by the General Taxation Department’s website or third-party software to issue e-invoices.
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