“Lucky invoice” Program: Encouraging consumers to get used to civilized consumption

VCN – Deputy Director General of Taxation Dang Ngoc Minh said that the “Lucky invoice” program is expected to create a mechanism to encourage consumers to get used to civilized consumption, that is purchasing goods and getting invoices.
Deputy Director General of Taxation Dang Ngoc Minh
Deputy Director General of Taxation Dang Ngoc Minh

How did the General Department of Taxation come up with the idea for the “Lucky invoice” Program?

In fact, every year, the Tax sector manages tax refunds of VND140,000 billion but the risk of evading tax refund for traditional invoices persists. Through management, many cases of fraud of tax invoices were detected by the Tax sector. The Law on Tax Administration regulating many provisions on electronic invoices (e-invoices) was an important step in tax management and enhanced the responsibility of the tax authority in the management and use of e-invoice data.

Accordingly, in the Law on Tax Administration, the General Department of Taxation researched a project on launching the “Lucky invoice” Program for e-invoices with the purpose of encouraging consumers to take invoices when purchasing goods as well as making it a practice of civilized consumption, purchasing goods must have an invoice and vouchers, thereby protecting consumer’s rights.

To implement the project, it required many factors in which the responsibility of the State was very huge in investing in technical infrastructure to perform e-invoices; disseminating and communicating to the enterprises about the meaning of e-invoices which was focusing on strengthening administration, reducing costs, and creating a premise for digital transformation of enterprises.

However, a majority of consumers, especially individual consumers, did not usually make cost accounting so they did not have a habit of taking and saving invoices. Therefore, through the “Lucky invoice” program, the State created a mechanism to encourage consumers to get used to civilized consumption, that is purchasing goods and getting invoices.

It would bring benefits to consumers when there was a chance of win prizes worth tens of millions of VND.

Through learning from international practices, especially in countries and territories such as Taiwan, South Korea, which had successfully launched lucky draw programs for invoices, the General Department of Taxation launched this program complying with the regulations in the Law on Tax Administration, thereby, it both brings benefits to consumers and supervises the accounting of enterprise’s revenue as well as contributing to enhancing the modernization and digitalization of tax management.

Furthermore, this was an important part of this program that aimed to gather big data of e-invoices and transfer it to the tax authority for use in tax management. The main target of e-invoices was anti-fraud.

At the same time, to promote the effectiveness of e-invoices, the General Department of Taxation needed to have the supervision of a third party that was the consumers, especially retailers. The implementation of the "Lucky invoices" program would be an important factor to encourage consumers to exercise the right to monitor the tax obligations of businesses and sellers.

Could you please share more clearly the conditions for participating in the "Lucky Invoice" program?

Currently, there are two types of e-invoices, invoices without a code and with a code of the tax authority. The “Lucky invoice” program applies only for e-invoices with a code of the tax authority. This was a basic request to strengthen management and increase the responsibility of the tax authority in the management and use of e-invoice data. At the same time, it aimed to encourage consumers after paying for goods or services, which would require sellers to issue invoices for the purchased goods and services.

The invoices eligible to participate in the “Lucky invoice” program must have the identification of both the seller and the buyer. Thereby, encouraging buyers to provide their identification. Each invoice only participates in the lucky draw once, excluding invoices that were canceled, adjusted, or replaced.

The winning invoices were made based on the principle of random selection by electronic method on the e-invoice system of the tax authority. It would ensure transparency and close supervision by the Supervisory Council.

On April 15, 2022, Director General of Taxation Cao Anh Tuan signed and promulgated Decision No. 527 / QD-TCT on the establishment of a Supervisory Council for the “Lucky invoices” program. Accordingly, the members of the Supervisory Council include: Deputy Director General of Taxation in charge of Chairman of the Supervisory Council; the members included representatives of Vietnam Small and Medium Enterprises Association; Inspectorate of the Ministry of Finance; Internal Audit Department of the General Department of Taxation and a number of functional units of the General Department of Taxation.

The Supervisory Council was responsible for supervising the implementation of the program to ensure publicity, and transparency, and to protect the right to participate in the program of buyers purchasing goods and services that had e-invoices with the code of tax authority in accordance with current regulation.

How will the award structure be regulated to encourage organizations and individuals to participate and use e-invoices, sir?

The "Lucky invoice" program would be piloted in two rounds of the lucky draw to select winners held by the General Department of Taxation. The first round was scheduled to be held on April 18, 2022 and would be applied to all e-invoices with tax authority codes that have been issued by enterprises and business establishments from November 2021 to December 2021. Similarly, the second round would be held on April 21, 2022 for e-invoices issued from January 1, 2022 to March 31, 2022.

The prize structure was made following the criteria: three lucky invoices will be selected for each round. The value of each prize was up to VND50 million for a lucky invoice. The winner of the "Lucky Invoice" prize of the 1st and 2nd rounds would be awarded the prizes directly by the General Department of Taxation at the headquarters.

With such an award structure, the General Department of Taxation hoped to create attraction for consumers in using e-invoices when buying and selling goods and services. After the pilot period (period 1 and period 2), the General Department of Taxation would review the organization and adjust the frequency of the draw, expanding the prize structure and appropriate value of the prizes in order to attract more consumers' attention to e-invoices.

Accordingly, after having the results of the draw for "Lucky invoices", the General Department of Taxation would grant the authority to the local tax departments to award the prize directly in the provinces and cities where winners reside.

Thank you!

By Thùy Linh/Thanh Thuy

Related News

Tax authority handles 9.6 billion of e-invoices

Tax authority handles 9.6 billion of e-invoices

VCN - Regarding the results of implementing electronic invoices (e-invoices), the General Department of Taxation said that from the implementation to August 19, 2024, the number of e-invoices received and processed by the Tax authority was 9.6 billion.
Consumer choice is the driving force for business transformation

Consumer choice is the driving force for business transformation

VCN - Promoting sustainable production and consumption has been of interest to businesses and the Government, but there are still many obstacles and difficulties that require the participation of many parties, including manufacturers and consumers. Mr. Ho Tung Bach, Deputy Head of the Consumer Protection Department, National Competition Commission (Ministry of Industry and Trade) shared about this issue.
Tax refund applied for imported raw material serving for export production

Tax refund applied for imported raw material serving for export production

VCN - According to regulations, imported raw materials for production have paid import tax, when exporting products, if they meet all conditions, they will be refunded tax.
Protecting consumers from the boom of online selling

Protecting consumers from the boom of online selling

VCN - According to experts, the “heat” of the livestream selling industry is creating a fierce competition in e-commerce in Vietnam. However, the issue of product quality and consumer protection policies through this new selling channel is a concern of many people.

Latest News

Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3.92%.
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

VCN - Discussing in groups about the project "1 law amending 7 laws" in the financial sector according to the program of the 8th Session on October 29, 2024, National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigned by the Prime Minister.

More News

State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

VCN - According to the report sent to the National Assembly before the 8th Session of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Stipulate implementation of centralized bilateral payments of the State Treasury at banks

Stipulate implementation of centralized bilateral payments of the State Treasury at banks

VCN - The Ministry of Finance (MOF) gathers feedback on the draft Circular regulating the management and use of accounts of the State Treasury opened at the State Bank of Vietnam (SBV) and commercial banks.
Rush to finalize draft decree on public asset restructuring

Rush to finalize draft decree on public asset restructuring

VCN - According to the Ministry of Finance, the draft Decree regulating the rearrangement and handling of public assets is being urgently completed by the Ministry of Finance to submit to the Government for promulgation.
Inspection report on gold trading activities being complied: SBV

Inspection report on gold trading activities being complied: SBV

The State Bank of Vietnam (SBV) has announced that inspections on compliance with legal policies in gold trading activities of credit institutions and gold trading businesses have been completed and an inspection report is being compiled.
Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

VCN -The Government estimates that state budget revenue in 2024 will exceed VND 172.3 trillion, up 10.1% over the estimate, of which tax and fee revenue will reach 13.1% of GDP.
Ensure timely and effective management and use of public asset

Ensure timely and effective management and use of public asset

VCN – In order to promptly and effectively implement public asset management and use, ensuring compliance with legal regulations, the Ministry of Finance has just issued an official dispatch requesting ministries, branches and localities to comply with regulations in the Government’s Decree No. 114/2024/ND-CP dated September 15, 2024.
Accelerating decentralization in public asset management

Accelerating decentralization in public asset management

VCN - Amending the Law on Management and Use of Public Assets aims to improve regulations on accelerating decentralization and improving efficiency in management and use of public assets, and promoting financial resources, ensuring that the unified application the Law on Management and Use of Public Assets and other legal documents.
Difficulty in finding banks eligible to receive compulsory transfers

Difficulty in finding banks eligible to receive compulsory transfers

VCN - Reporting to the National Assembly, the State Bank of Vietnam (SBV) said that one of the difficulties in restructuring the credit institution system is the long process of finding and negotiating banks eligible to receive compulsory transfers.
Businesses can choose a suitable electronic invoice model generated from the cash register

Businesses can choose a suitable electronic invoice model generated from the cash register

VCN - The Ministry of Finance said that individual business households can choose a suitable model to apply electronic invoice solutions from cash registers, depending on the number of invoices used in the year, in the month and the current status of software solutions and technical infrastructure.
Read More

Your care

Latest Most read
Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigne
State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

According to the report of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Mobile Version