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Economic Sector

Last updated: Wednesday, December 13, 2017

 

Proposal to Delay Electronic Invoice Application to 2019

Posted: Wednesday, November 15, 2017

The General Department of Taxation under the Ministry of Finance recently held a press conference on results of implementation of electronic services for taxpayers. One of noteworthy contents is the General Department is considering postponing the compulsory application of electronic invoices until July 1, 2019 instead of January 1, 2018.

The General Department said some 2,700 companies used e-invoices, issuing roughly 400 million e-invoices since the pilot was launched. The electronic invoice system had 239 companies have authentication codes of tax authorities, issuing 39.4 million invoices.

These figures are minor relative to about 600,000 active enterprises, an official from the General Department of Taxation said. According to the initial proposal of tax authorities, the application of electronic invoices would be expanded from January 1, 2018. Companies with high tax risks would be subject to use e-invoices from January 1, 2018 while the rest would be applied on July 1, 2018.

However, many are still concerned about the feasibility of mass application of electronic invoices. To better prepare for the use of electronic invoices such as information technology infrastructure network and application training for enterprises, after consulting Government officials and the business community on the postponement, the General Department of Taxation is considering submitting a delay scheme to the Ministry of Finance to report to the Government on the roadmap of applying electronic invoices from July 1, 2019 to companies that self-print invoices or use invoices ordered for printing from other companies or tax authorities. Companies that are using electronic invoices will continue to use this new mechanism.

Mr Nguyen Dai Tri, Deputy General Director of the General Department of Taxation, said, as the application of electronic invoices will affect business production and economic performance, a careful and practical approach is advisable.

He said, unlike paper invoices which are updated monthly or quarterly by enterprises, electronic invoices will be immediately inputted into the system. If a small company has a big volume of invoices in a short time, authorities may suspect its operations. The early information updating may help authorities to detect abnormal cases and conduct inspections.

Companies actually need roadmaps and preparations for use of electronic invoices. Many, particularly micro and small businesses in far-lying areas, are reluctant to use electronic invoices.

Le Hien








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