Type: Legislation
Vietnam still uses paper invoices, but it has no plans to do so in the future. In addition to the traditional format, electronic invoices are now available. Going even further, the Vietnamese government wants e-invoicing to be the primary method of payment by July of this year.
The entire project will be completed in three stages. A pilot program is included in the first two. The solution will first be tested in a few provinces. The pilot program will be expanded to the entire country in the second phase. After these stages, all taxpayers will be required to use electronic invoices.
The new law does not change the two types of e-invoicing processes: one that uses e-invoices with GDT tax verification codes and one that does not.
Invoices can be submitted to the tax authorities in a variety of ways, including:
- Transmit data in e-invoices directly to the General Department of Taxation
- Transmit data through a service provider
Effective date: July 2022