All Businesses Self-Print Invoices Next Year

The move aims to raise awareness of enterprises in self-control and reduce administrative costs for tax authorities. Vietnam now has some 400,000 small and medium enterprises (SMEs) and they are the targets of this plan.

 

Tax agencies said micro-businesses need to have plans for using self-printed invoices from October 2011. The General Department of Taxation expects all companies will have new invoice using plans. To avoid backlog at the end of this year, the general department ordered its affiliates to ensure that all companies have self-printed invoices by October 31, 2011.

 

Mr Phi Van Tuan, Director of Hanoi Department of Taxation, said Hanoi has the largest number of SMEs in Vietnam, with hundreds of thousands. This is a difficulty that Hanoi faces in managing invoice buying and selling. The management will be more complicated if the invoice self-printing mechanism is enabled. He proposed stricter regulations on business registration rather than encourage all economic sectors to set up companies because many companies are reportedly established not for operation but for buy and sell invoices to take margin.

 

The Propaganda Department under the General Department of Taxation said it will boost information and communication with the business community. Tax offices will stop selling invoices after 2011. They will reduce the volume of invoices in the last quarter of 2011 and only sell invoices for enough use within 2011. Unused invoices issued by tax authorities will be returned to the issuers after December 31, 2011. Tax authorities will help companies to find printers or companies providing invoice printing software if necessary.

 

As self-printing invoice is simple, cost-effective, the Ministry of Finance has provided invoice printing software for businesses, particularly micro ones (with registered capital of less than VND1 billion), with 6 months or one-year free licence. At present, the Ministry of Finance has licensed four companies providing invoice-printing software. Besides, to support companies to find suitable invoice printing software, the General Department of Taxation has invited IT software service suppliers to introduce invoice printing software to the business community. Recently, the General Department of Taxation and ICEL Joint Stock Company introduced SmartKey invoice printing software in Hanoi. This software helps users manage, issue and prevent counterfeiting self-printed invoices.