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!
Related News

Strengthen the management and use of electronic invoices for e-commerce
11:24 | 16/12/2024 Finance

Amendment of regulations on electronic invoices
15:18 | 30/07/2024 Regulations

Applying new technology, preventing the fraud of electronic invoice
14:37 | 27/12/2023 Finance

Only two petroleum businesses have adopted electronic invoicing after each sale
09:54 | 12/12/2023 Finance
Latest News

Personal income tax proposed for interest on some bank savings accounts
10:31 | 20/02/2025 Finance

Banks set for aggressive bond issuance in 2025 to fuel growth
16:20 | 19/02/2025 Finance

Central bank cuts interest rate on bills for first time in 2025
15:30 | 18/02/2025 Finance

Focusing on inspecting inventory of public assets at units with large and complex assets
16:31 | 15/02/2025 Finance
More News

The government seeks approval for revised GDP, CPI targets
16:28 | 15/02/2025 Finance

Fiscal, monetary policies support demand stimulation, price stabilisation
14:49 | 14/02/2025 Finance

Vietnam secures VND 157 billion from state enterprise divestment in 2024
09:16 | 14/02/2025 Finance

Vietnam gears up for potential inflation impact in 2025
14:26 | 11/02/2025 Finance

VN’s credit conditions in 2025 expected to be stable
14:24 | 11/02/2025 Finance

State revenue in first month of the year equal to 14% of the estimate
10:12 | 11/02/2025 Finance

Securities 2025 expects a breakthrough in scale and quality
14:37 | 10/02/2025 Finance

Cash reserves in stock accounts at six-quarter low amid margin rise
08:23 | 10/02/2025 Finance

Five solutions for developing stock market in 2025
10:01 | 07/02/2025 Finance
Your care

Personal income tax proposed for interest on some bank savings accounts
10:31 | 20/02/2025 Finance

Banks set for aggressive bond issuance in 2025 to fuel growth
16:20 | 19/02/2025 Finance

Central bank cuts interest rate on bills for first time in 2025
15:30 | 18/02/2025 Finance

Focusing on inspecting inventory of public assets at units with large and complex assets
16:31 | 15/02/2025 Finance

The government seeks approval for revised GDP, CPI targets
16:28 | 15/02/2025 Finance