Electronic invoice ("Investment Agreement")

Current legal documents

Decree No. 119 / 2018 / ND-CP ("Decree 119") issued on the 12 month of month and year of the Government, Regulations on electronic invoices (EC) when selling goods, providing services, with effect from date of April 30, 2012, year and year.

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Summary of new text content

Subjects of application and enforcement

The Decree applies to all businesses established and operating in accordance with the laws of Vietnam and takes effect from the date of April, April, April and April. Decrees No. XNXX / 01 / ND-CP on 11 / 2018 / 51 and Decree No. XNXX / 2010 / ND-CP dated 14 / 05 / 2010 of the Government stipulating invoices for selling goods and providing services will be exhausted from the date of April 30, 2012

Thus, after the date of 31 / 10 / 2020, enterprises are required to apply an investment contract.

Instructions for handling transitions

• The enterprise has announced the issuance of an investment contract before the date of April 30 / 01 / 11 and may continue to use the current investment account.
• Enterprises have announced the issuance of paper invoices before the date of April 30 / 01 / 11 and continue to use paper invoices until the end of 2018 / 31 / 10. In addition, the enterprise needs to submit the Appendix of Form No. 2020 issued in this Decree listing the list of sales invoices in the period along with the time to submit VAT declarations to CQT.
• For newly established business establishments from the date of April 30, 2011, 01 year, year 2 to day 6, month, month 2, year 2, follow the instructions of CQT.
• From the time of using the Investment License with the code of CQT, the enterprise must cancel unused paper invoices (if any).

The General Department of Taxation has issued Official Letter No. 4311 / TCT - CS to Tien Giang Tax Department to guide the implementation of regulations on Electronic Invoices for a specific taxpayer in the period from date of April 30 / 01 / 11 to 2018 / 31 / 10 ("Transition period"). Some notable points in Official Letter 2020 are as follows:

• In the transition period, the Decree No. XNXX / 51 / ND-CP on 2010 / 14 / 05 and Decree 2010 / 04 / ND-CP on 2014 / 17 / 01 regulations on invoices are still valid.
• During the transitional period, if the taxpayer uses up all of the ordered invoices that have been notified of issuance, and still wishes to continue using pre-printed invoices, they may continue using them according to the provisions of the decrees mentioned. above until you switch to use an electronic invoice (e-invoice) according to the provisions of Decree 119/2018 / ND-CP.
• The Ministry of Finance will issue a circular guiding the Decree of 119 / 2018 / ND-CP in the coming time.

Characteristics of the Investment Council

Investment Activities are established under the standard format and subject to the management of CQT through connecting to the database of investment activities of the tax industry.

Investment Contract has the code and Investment Agreement without the tax agency's code

• Business enterprises in the fields: electricity; Petroleum; post and Telecommunication; air, road, rail, sea and water transport; Clean water; credit financing; insurrance; medical; e-commerce business; supermarket business; trade and businesses, economic organizations that have or will carry out transactions with CQT by electronic means that satisfy the conditions of software, transmission, data storage, etc., are applied with an Investment Contract without CQT code;
• For the remaining cases, the application of an Investment Agreement with the code of the CQT including an enterprise is in the case of high risk of tax, household or business. The seller makes and signs e-documents at the electronic portal of the General Department of Taxation or through organizations providing e-customs services or using software of e-investment activities of the unit.

Convert into paper invoices

The conversion of an investment contract into a paper voucher is only valid for record keeping and monitoring in accordance with the law on accounting and is NOT valid for transactions and payments. For goods circulated on the road of State agencies and persons competent to access the electronic information portal of the General Department of Taxation for searching.

Building an e-government database

The tax authority will be responsible for building, collecting, processing and sharing data on e-investment for relevant organizations.

Organization providing e-translation services

A number of small and medium enterprises, households and business individuals in accordance with regulations are provided free of charge by CQT services. The billing code system of the General Department of Taxation automatically grants the invoice code and returns the result of issuing invoice code to the sender. Eligible IT organizations are allowed to provide e-investment services.

Some dispatches should be noted

Electronic invoices (HDD) (Official Letter No. 2011 / TCT-CS dated 25 / 05 / 2018 of General Department of Taxation)

In case the Company purchases goods and services from the seller and uses electronic invoices, the Company uses the seller's electronic invoice (e-invoice) to declare tax, record in accounting books, and prepare financial statements. . The company is an accounting unit responsible for backing up e-invoice data to media (for example: memory sticks (USB flash drives); CDs and DVDs; external hard disks; attached hard disks in) or perform online backups to protect e-invoice data. If the Company has a need to convert electronic invoices (e-invoices) into paper invoices to serve the archival of accounting vouchers, the electronic invoices converted to paper invoices must satisfy the provisions specified in Clause. 2, 3, 4 Article 12 of Circular No. 32/2011 / TT-BTC.

Invoices and vouchers for customer promotion support (Official Letter No. 2303 / TCT-CS dated 11 / 06 / 2018 of General Department of Taxation)

In case the company has implemented a customer support program when it comes to a dealer of a car-buying company, when making payment for customer support through an agent, the company prepares a voucher to pay money and at the same time the recipient Money is an agent based on the collection content to set up receipts according to regulations. Expenses for customer support through the above-mentioned agents of the Company are included in deductible expenses when determining income subject to CIT if there are sufficient invoices and vouchers as prescribed.