11.12.21

New Circular guiding the Tax admin law 2019 and Decree 123/2020 on E-invoice

In Vietnam, the Ministry of Finance has issued Circular 78/2021 on 17 September 2021 to guide the implementation of several articles of the Law on Tax Administration and the Government’s Decree 123 on invoices and documents.

The following are some noteworthy points from the circular:

• For business using e-invoice without verification code, the e-invoice data must be transmitted to the tax authority within the date the e-invoice is sent to the buyer at the latest, except for certain sectors such as telecommunication, insurance, banking, air transportation, securities, etc.
• If an enterprise uses e-invoices without verification code and would like to switch to e-invoices with verification code, they should follow the guidelines outlined in Article 15 of Decree 123/2020.
• When an e-invoice has errors that must be corrected or replaced, buyer can choose to notify the amendment for each e-invoice with errors or for multiple e-invoices with errors using a prescribed form. This form must be submitted to the tax authorities by the last day of the VAT declaration period.