Issue of electronic invoices in petroleum retail is effective solution to prevent tax fraud

	Only two petroleum businesses have adopted electronic invoicing after each sale
	Applying new technology, preventing the fraud of electronic invoice

Le Ba Thuong, Director of Institute for Legal Research and Corporate Culture.

How do you evaluate the regulations on electronic invoice issuance in petroleum retail?

The implementation of electronic invoices by the Tax agency is an effective solution that has received great attention from management levels and has drastically directed localities to execute it.

On December 1, 2023, the Prime Minister issued Official Dispatch No. 1284/CD-TTg on strengthening the management and use of electronic invoices for petroleum business and retail activities.

Earlier, on November 18, the Prime Minister issued Official Telegram No. 1123/CD-TTg on strengthening the management and use of electronic invoices, contributing to promoting digital transformation.

Currently, all industries apply e-invoicing regime and this regime brings benefits for both consumers and businesses. Therefore, the issue of e-invoice for each sales transaction and sending data to the Tax within the day by the petroleum traders under Decree 123/2020/ND-CP is required. This is also a requirement for us to quickly transfer to a digital economy.

What are the benefits of implementing electronic invoices in the petroleum retail sector?

The issue of e-invoices not only helps Tax authorities in tax management but also supports enterprises in accounting. The issue of e-invoices helps reduce cost, and save data and can be used for statistics and tax settlement for businesses and tax authorities. Individual buyers can use e-invoices easily, quickly and simply and only need to write the payment.

Accordingly, the application of e-invoices has an immediate impact on petroleum businesses and consumers. It aims to not only help the petroleum businesses control the trade, but also to help customers control invoice information immediately after refueling. In addition, it helps strengthen control and revenue management, ensure tax collection, a transparent business environment, and increase the State revenue.

The application of e-invoices is required from January 1, 2024, however some areas still delay this work. In your opinion, what is the cause of this situation?

I have experience of working in the Tax law for 20 years, each policy has its advantages and disadvantages. The use of paper invoices has increased cost than use of e-invoices. However, in order for petroleum businesses to apply electronic invoices for each sales transaction at each petroleum station, the businesses also need time to train their employees.

In addition, the Tax authority should regulate criteria for reputable and reasonably priced e-invoice providers so that petroleum businesses can trust. The tax man should instruct the businesses to understand costs such as sales commissions and trade discounts and can be accounted for as reasonable expenses or not.

In your opinion, what solutions are needed to effectively implement this regulation?

To overcome the current shortcomings, in my opinion, the Tax authority should build an e-invoice software connected with the unified accounting software of the General Department of Taxation for all businesses to use. At the same time, retrain businesses to understand the invoicing for corporate and individual buyers.

It is necessary to extend the time and provide a roadmap for application, training for businesses to ensure good business operations and the meaning of e-invoices.

Thank Sir!