The Vietnamese Ministry of Finance has launched many propagandising and training activities to guide enterprises how to use self-printed invoices. A training conference on printing and issuing invoices for foreign invested enterprises, held in the capital city of Hanoi by the Ministry of Planning and Investment, the Vietnam Association Foreign Invested Enterprises, and the ICEL Consultancy and E-Learning Joint Stock Company, is part of the chain of such activities.
Companies which have charter capital of VND1 billion upwards, locate in industrial parks, export processing zones, high-tech zones, etc, are allowed to use self-printed invoices.
The General Department of Taxation said, by 2012 all companies throughout the country must print invoices for their own use or use electronic invoices. At present, companies are allowed to use or self-print three types of bills of sales. The first one is self-printed invoices issued by organizations and individuals from IT devices, cash registers or other machines when they sell goods and services. The second is electronic invoice - a collection of electronic data communications concerning the sale of goods and services is created, formed, sent, received, stored and managed in accordance with the Law on Electronic Transactions and the Circular 32/2011/TT-BTC. The third is invoices businesses hire other to print in customised forms.
Ms Nguyen Thi Cuc, President of the Vietnam Tax Consultants' Association (VTCA), said: “To self-print invoices, companies can develop specialised software, hire or purchase software from other developers, or the simplest solution is to seek for help from consulting companies and software companies.” When businesses use software to print invoices, tax authorities can reduce their administrative work related to this matter. This will also help quicken tax payment procedures.
Mr Nguyen Mai, Chairman of the Vietnam Association of Foreign Invested Enterprises, said: “Using software to self-print invoices is a far and important progress in the accounting industry. This will reduce costs for the printing bills.” Using software to self-print invoices will benefit companies like automation and cross-reference from the stage of printing invoices to the stage of informing invoices and managing invoice serials. Self-printed invoices will bear a lot of identity information and images of issuing companies. In addition, businesses will easily look up invoice information, manage issued invoices, and reduce invoice-related transaction costs, issuing costs and time costs.
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According to the Ministry of Finance and the General Department of Taxation, thousands out of more than 420,000 enterprises are operating without invoices. They have to purchase invoices from tax offices as they did previously because they do not have facilities to print invoices or they are slow at ordering invoice printing or choose improper and unreliable software.
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Businesses can self-control, hold responsible for invoice information, limit invoice-related risks, and simplify archives and storage work. Specially, some invoice-printing software (e.g. Smartkey provided by ICEL) has anti-counterfeiting functions.
Mr Nguyen Van Phung, Deputy Director of Tax Policy Department under the Ministry of Finance, confirmed that the Ministry of Finance will launch many activities to promote, encourage and support businesses to use self-printed invoices. Especially, for businesses, all investments in computers, software and other devices to use invoice-printing software are calculated as reasonable expenses.
Que Chi
Vietnamese
