E-invoicing Vietnam: Companies only have a few more days to register

From 1 July 2022, all companies in Vietnam will be required to use e-invoices (Tax Administration Law No. 38/2019/QH14). The mandatory introduction of e-invoicing is one of the most important parts of the digital transformation. Therefore, the Vietnamese government has taken numerous measures to support companies with the introduction and implementation.

The Ecovis advisers have put together the most important points on how to use the electronic invoice.

There are two types of e-invoice: one with and one without the General Department of Taxation’s verification code. Two common cases in which enterprises are exempted from issuing e-invoices with a verification code are:
- Companies operating in the following sectors: electricity, petroleum, postal, telecommunications, transportation (air, road, railway, sea and waterway), credit financing, e-commerce, insurance, supermarkets, and trade
- Companies carrying out e-transactions directly with the tax authorities or equipped with technology infrastructure, accounting and e-invoice software which complies with regulations
E-invoices with verification codes can be used in tax declarations
E-invoices must be securely archived for 10 years
Once companies have been approved to use the new e-invoice forms, unused invoices using old forms must be terminated or destroyed
Companies exporting goods/services are required to issue e-VAT / e-Sales invoices for tax purposes after completing export procedures instead of the previous commercial invoices

Do you have problems moving from paper to digital invoices? We will be happy to help you.

Nghia Tran, Partner, ECOVIS AFA VIETNAM, Da Nang City, Vietnam

Correction of e-invoices containing errors:
- For e-invoices with mistakes in the name or address of the buyer, the seller must inform the buyer and send a notice to the tax authority (no need for re-issuing invoices)
- For e-invoices with mistakes in the buyer’s tax code, invoice amount, tax rate, tax amount or description of goods, the seller must prepare a list of errors with the buyer, send a notice to the tax authority and issue a new e-invoice
- For e-invoices issued without an invoice symbol or number, the seller can make adjustments without any cancellation or replacement
- For e-invoices with error(s) discovered by the tax department, the seller must reissue the e-invoice within the designated time frame after receiving a notice from the tax department

For further information please contact:

Nghia Tran, Partner, ECOVIS AFA VIETNAM, Da Nang City, Vietnam
Email: Nghia.Tran@ecovis.com.vn

The Ecovis advisers have put together the most important points on how to use the electronic invoice.

There are two types of e-invoice: one with and one without the General Department of Taxation’s verification code. Two common cases in which enterprises are exempted from issuing e-invoices with a verification code are:
- Companies operating in the following sectors: electricity, petroleum, postal, telecommunications, transportation (air, road, railway, sea and waterway), credit financing, e-commerce, insurance, supermarkets, and trade
- Companies carrying out e-transactions directly with the tax authorities or equipped with technology infrastructure, accounting and e-invoice software which complies with regulations
E-invoices with verification codes can be used in tax declarations
E-invoices must be securely archived for 10 years
Once companies have been approved to use the new e-invoice forms, unused invoices using old forms must be terminated or destroyed
Companies exporting goods/services are required to issue e-VAT / e-Sales invoices for tax purposes after completing export procedures instead of the previous commercial invoices

Do you have problems moving from paper to digital invoices? We will be happy to help you.

Nghia Tran, Partner, ECOVIS AFA VIETNAM, Da Nang City, Vietnam

Correction of e-invoices containing errors:
- For e-invoices with mistakes in the name or address of the buyer, the seller must inform the buyer and send a notice to the tax authority (no need for re-issuing invoices)
- For e-invoices with mistakes in the buyer’s tax code, invoice amount, tax rate, tax amount or description of goods, the seller must prepare a list of errors with the buyer, send a notice to the tax authority and issue a new e-invoice
- For e-invoices issued without an invoice symbol or number, the seller can make adjustments without any cancellation or replacement
- For e-invoices with error(s) discovered by the tax department, the seller must reissue the e-invoice within the designated time frame after receiving a notice from the tax department

For further information please contact:

Nghia Tran, Partner, ECOVIS AFA VIETNAM, Da Nang City, Vietnam
Email: Nghia.Tran@ecovis.com.vn

The Ecovis advisers have put together the most important points on how to use the electronic invoice.

There are two types of e-invoice: one with and one without the General Department of Taxation’s verification code. Two common cases in which enterprises are exempted from issuing e-invoices with a verification code are:
- Companies operating in the following sectors: electricity, petroleum, postal, telecommunications, transportation (air, road, railway, sea and waterway), credit financing, e-commerce, insurance, supermarkets, and trade
- Companies carrying out e-transactions directly with the tax authorities or equipped with technology infrastructure, accounting and e-invoice software which complies with regulations
E-invoices with verification codes can be used in tax declarations
E-invoices must be securely archived for 10 years
Once companies have been approved to use the new e-invoice forms, unused invoices using old forms must be terminated or destroyed
Companies exporting goods/services are required to issue e-VAT / e-Sales invoices for tax purposes after completing export procedures instead of the previous commercial invoices

Do you have problems moving from paper to digital invoices? We will be happy to help you.

Nghia Tran, Partner, ECOVIS AFA VIETNAM, Da Nang City, Vietnam

Correction of e-invoices containing errors:
- For e-invoices with mistakes in the name or address of the buyer, the seller must inform the buyer and send a notice to the tax authority (no need for re-issuing invoices)
- For e-invoices with mistakes in the buyer’s tax code, invoice amount, tax rate, tax amount or description of goods, the seller must prepare a list of errors with the buyer, send a notice to the tax authority and issue a new e-invoice
- For e-invoices issued without an invoice symbol or number, the seller can make adjustments without any cancellation or replacement
- For e-invoices with error(s) discovered by the tax department, the seller must reissue the e-invoice within the designated time frame after receiving a notice from the tax department

For further information please contact:

Nghia Tran, Partner, ECOVIS AFA VIETNAM, Da Nang City, Vietnam
Email: Nghia.Tran@ecovis.com.vn