Businesses welcome e-invoices

VCN – With sufficient legal basis, the expansion of e-invoices of the Tax sector has advantages with welcome of the business community.
businesses welcome e invoices New Decree guiding implementation of e-invoice
businesses welcome e invoices Hanoi: 22 e-invoice service providers
businesses welcome e invoices By the end of 2019, 95% of Hanoi enterprises will use e-invoices
businesses welcome e invoices
77 percent of businesses expect to use e-invoices in their transactions. Photo: T.Linh

77 percent of businesses expect to use e-invoices

According to the report on assessing the business’s satisfaction to the tax agency, announced by the Vietnam Chamber of Commerce and Industry (VCCI), 77 percent of businesses expect to use e-invoice in their transactions and 70 percent of them are willing to deploy e-invoices. Meanwhile, the remaining of 23 percent have not expected to use e-invoices for various reasons, most importantly that businesses still present documents and vouchers to other State agencies for inspection despites e-invoices. 32 percent of businesses said that they have not been ready for technical infrastructure to apply e-invoices.

As Dau Anh Tuan, Head of Legal Department of the VCCI, the application of e-invoices is remarkable shift and irreversible trend, so VCCI has organized many seminars on e-invoices to help businesses take the initiative in implementation. However, in the implementation process, the Tax sector still needs to implement synchronous measures to publicise, support, regularly organize training courses to promptly solve difficulties for businesses. In addition, the General Department of Taxation needs to coordinate with the providers of e-commerce solutions to offer service packages and support programs to minimize costs for small and micro enterprises.

Advantages for implementation

Mr. Dau Anh Tuan said that, like Hanoi, the implementation of the e-invoices could be completed in 2019 because this is a big city with the best IT infrastructure and human resources in the country. Furthermore, the Hanoi Tax Department has had the experience in effective deployment of e-tax declaration and payment. Businesses are also familiar with using information technology applications; some businesses have implemented e-investment points early, so it is not too difficult to accomplish the goal of expanding e-invoices.

Vietnam Investment Trading Development Co. Ltd.. - a company operating in the field of real estate and apartment leasing started using the e-invoices in June 2018. According to statistics, the company uses from 500-1,000 invoices per month. Ms. Truong Thi Thu Ha, representative of the company, said that the use of e-invoices considered much more favorable than paper invoices. When applying e-invoices, many people can export invoices at the same time, monthly reports on invoice using are made easily by one click with high accuracy, without taking as much time as before.

According to Nguyen Kho Din, Director of Corporate Customer Department of Bkav, this company has used e-invoices since 2011. In the first stage of implementation, the business community has not paid much attention, but since the Government issued Decree 119/2018 / ND-CP and especially when the Ministry of Finance issued Circular 68/2019 / TT-BTC on e-invoices, businesses have paid more attention to e-invoices, especially foreign enterprises.

“To date, Bkav has about 30,000 customers using e-invoices, mainly in Hanoi and Ho Chi Minh City. In the future, with the strengthening of implementation at tax agencies at all levels and the participation of suppliers, it is certain that the e-invoices will be applied by more enterprises, ”Mr. Nguyen Kho Din said.

businesses welcome e invoices E-invoices: Brings tangible and intangible values

VCN- The use of e-invoices is an inevitable trend in the industrial revolution 4.0 and will bring ...

For the tax sector, to meet the requirements of Decree 119/2018 / ND-CP, Circular 68/2019 / TT-BTC, the General Department of Taxation is developing of technical infrastructure systems to connecting information, receiving and transmitting data on invoices of businesses, ensuring smooth, safe and confidential. At the same time, the General Department of Taxation is also amending the tax management process system based on the e-invoice information from the management, registration and issuance of invoices to the management and use of invoices and tax administrations such as compliance monitoring, inspection, sanctions and related enforcement.

By Thuy Linh/ Huyen Trang

Related News

Improving the competitiveness of businesses is an important factor

Improving the competitiveness of businesses is an important factor

VCN - Local competitiveness is not only based on economic management capacity, the favorable and friendly business environment and efforts to improve administrative reform efforts of provincial and city governments (PCI) but also relies on the competitiveness of local businesses.
Total budget revenue in first half of year reaches 60% of estimate

Total budget revenue in first half of year reaches 60% of estimate

VCN - According to the Ministry of Finance, total state budget revenue in the first six months of the year was quite good and grew over the same period last year. This results in effective implementation of tax laws and state budget collection tasks, revenue management, and anti-revenue loss of the Ministry of Finance. Along with that, the Ministry of Finance actively deployed policies to help remove difficulties for businesses and people.
Dong Nai Customs Department creates positive changes in import and export activities

Dong Nai Customs Department creates positive changes in import and export activities

VCN – Administrative reform and facilitation solutions implemented by Dong Nai Customs Department have helped businesses stabilize and develop production, thereby bringing positive changes in import and export activities in the area from the beginning of the year until now.
Investigate a company showing signs of illegally invoice trading

Investigate a company showing signs of illegally invoice trading

VCN – Although there is no warehouse, no factory, no freight forwarding warehouse and no transportation costs, only after 10 days being licensed to establish, Ngoc Hung Dung AG Co.,Ltd has used hundreds of invoices showing signs of tax evasion.

Latest News

2025 budget estimation must be practical, accurate and efficient

2025 budget estimation must be practical, accurate and efficient

VCN - Directing the 2025 state budget estimation, Minister of Finance Ho Duc Phoc emphasized that units must ensure that the 2025 budget estimation must be practical, accurate, efficient, and meet the requirements for performing professional and political tasks assigned to central and local agencies.
The corporate bond market will be more vibrant in the second half of the year

The corporate bond market will be more vibrant in the second half of the year

VCN - In the first half of 2024, with bond maturity pressure continuing to increase, corporate bond issuance has shown many positive signs compared to the previous year. According to forecasts, businesses' need to borrow and issue corporate bonds will accelerate in the second half of 2024.
Prioritize resources and promptly supplement capital for policy credit

Prioritize resources and promptly supplement capital for policy credit

VCN- In the near future, to further promote the effectiveness of policy credit, the Ministry of Finance will continue to preside over and coordinate with relevant ministries, branches and the Vietnam Bank for Social Policies (VBSP) to implement many key solutions.
Measures suggested to boost startups’ access to capital

Measures suggested to boost startups’ access to capital

The recent vigorous growth of startups in Vietnam has attracted domestic and foreign investors, but insiders recommended more efforts be made to facilitate startups’ access to funding from investors so that they can live up to potential.

More News

Inflationary pressure seen from monetary policy

Inflationary pressure seen from monetary policy

VCN - The economy went through the first half of the year, inflation is still under control and forecast to reach the target set by the National Assembly and the Government. However, variables from the currency market such as exchange rates, interest rates, credit..., even gold prices, are issues that need to be paid attention.
Banks with the problem of promoting credit growth

Banks with the problem of promoting credit growth

VCN - It is estimated that by the end of June 2024, the economy's credit growth will reach nearly 4.5%. This number is still far from the yearly credit growth target of 14-15%.
Proposal to increase Special Consumption Tax on tobacco products

Proposal to increase Special Consumption Tax on tobacco products

VCN - At the workshop Special Consumption Tax on cigarettes held by Vietnam Tax Consulting Association and the Institute of Financial Strategy and Policy on July 16, experts and businesses clarified the goals and content of amended the special consumption tax policy on tobacco products. According to experts, there cannot be a solution that fully ensures the benefits of both consumers, the state and businesses, but it is necessary to choose the most optimal option to achieve the initially set goals.
Savings of individual customers at banks hit record high

Savings of individual customers at banks hit record high

In spite of low interest rates, figures from the State Bank of Vietnam (SBV) released this week show deposits of individual customers increased by more than VNĐ39.7 trillion in April, to reach more than VNĐ6.7 quadrillion.
Managing fiscal policy has achieved many positive and comprehensive results

Managing fiscal policy has achieved many positive and comprehensive results

VCN - On July 15, the Ministry of Finance held an online conference to summarize state budget financial work in the first 6 months of the year, implementing tasks in the last 6 months of 2024. Minister of Finance Ho Duc Phoc attended and directed the conference. Also attending the Conference were Deputy Ministers of Finance, leaders of units under the Ministry of Finance.
Determine tools, policy for inflation control

Determine tools, policy for inflation control

VCN - According to economic expert Associate Professor, PhD. Ngo Tri Long (photo), former Director of the Price Market Research Institute (Ministry of Finance), inflation is an issue that needs special attention, especially related to the management of monetary policy, interest rates, increasing prices of goods and services...
The impact of wage increases on inflation will not be too significant

The impact of wage increases on inflation will not be too significant

VCN - Addressing concerns related to wage and price increases, Dr. Nguyen Duc Do, Vice Director of the Institute of Economics - Finance (Finance Academy), believes there are not many factors causing sudden price surges in the last 6 months of 2024. Therefore, it can be expected that the rate of price increases in the last 6 months will be comparable to that in the first 6 months of 2024.
Imposing and raising special consumption tax contributing to change consumption behavior

Imposing and raising special consumption tax contributing to change consumption behavior

VCN - At the Workshop on Comments on Completing the Revised Law on Special Consumption Tax (SCT) organized by the Vietnam Confederation of Commerce and Industry (VCCI) on July 11, many experts and businesses contributed their opinions to clarify the importance and impact of the revised special consumption tax law, which emphasizes the addition of taxable areas or tax increases to change society's consumption behavior.
The local Finance sector is flexible and strict in managing budget revenues and expenditures

The local Finance sector is flexible and strict in managing budget revenues and expenditures

VCN - Although the forecast for the last 6 months of the year will still have many difficulties and challenges, the Finance sector in all localities expressed their determination to strive to achieve and exceed estimates, while strengthening the prevention of revenue loss and handling tax debt recovery, etc.
Read More

Your care

Latest Most read
2025 budget estimation must be practical, accurate and efficient

2025 budget estimation must be practical, accurate and efficient

VCN - Directing the 2025 state budget estimation, Minister of Finance Ho Duc Phoc emphasized that units must ensure that the 2025 budget estimation must be practical, accurate, efficient, and meet the requirements for performing professional and political
The corporate bond market will be more vibrant in the second half of the year

The corporate bond market will be more vibrant in the second half of the year

VCN - In the first half of 2024, with bond maturity pressure continuing to increase, corporate bond issuance has shown many positive signs compared to the previous year. According to forecasts, businesses' need to borrow and issue corporate bonds will acc
Prioritize resources and promptly supplement capital for policy credit

Prioritize resources and promptly supplement capital for policy credit

VCN - According to the VBSP, by the end of June, total policy credit capital rose 7.6% year-on-year to VND 372,723 billion, including entrusted capital from the local budget at VND46,929 billion, an increase of VND7,755 billion, accounting for 12.6%.
Measures suggested to boost startups’ access to capital

Measures suggested to boost startups’ access to capital

The recent vigorous growth of startups in Vietnam has attracted domestic and foreign investors, but insiders recommended more efforts be made to facilitate startups’ access to funding from investors so that they can live up to potential.
Inflationary pressure seen from monetary policy

Inflationary pressure seen from monetary policy

The economy went through the first half of the year, inflation is still under control and forecast to reach the target set by the National Assembly and the Government
Mobile Version