Local firms seek guidance on e-invoice use

26-Jul-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Several enterprises sought guidance from the Ministry of Finance on the issuance and use of e-invoices, without delay, during a conference attended by HCM City officials and business representatives on July 23.

At the conference, which was jointly held by the HCM City Investment and Trade Promotion centre and the HCM City Tax Department, a number of business representatives agreed that e-invoices will help improve the management and storage of information and business activities, the Vietnamplus news site reported.

However, many firms have encountered a number of difficulties while making the switch from paper-based invoices to e-invoices.

According to Nguyen Thi Thanh Mai, a representative of KAO Vietnam Co. Ltd, the government’s Decree 119/2018/ND-CP, which regulates the use of e-invoices for sale of goods and services, will definitely further business activities of local companies.

Although the decree took effect on November 1 last year, a circular providing guidance on its deployment is not yet available. Meanwhile, the decree has made e-invoices compulsory for all enterprises from November 1, 2020.

Enterprises are finding it costly and time-consuming to issue both paper-based and electronic invoices, he added.

Therefore, Mai proposed the Ministry of Finance issue a circular providing guidance to Decree 119 as soon as possible.

Nguyen Nam Binh, deputy director of the HCM City Tax Department, said the use of e-invoices is in line with the taxman’s aim to reduce costs for enterprises. Local firms should study solutions offered by e-invoice service providers to immediately carry out the new invoice system, he said.

The Ministry of Finance is drafting a circular providing guidance on the implementation of Decree 119, and the general Department of Taxation is building a portal to collate data on sales of goods and services from the e-invoices, he said.

Enterprises can now issue and use e-invoices based on the Ministry of Finance’s Circular 32/2011/TT-BTC, guiding the creation, issuance, and use of e-invoices, Binh added.



Category: Economy, Vietnam

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