Vietnamese Businesses Encouraged Using E-Invoice

February 3, 2012  |  Adoption, Asia, Electronic Invoicing

The Vietnamese General Department of Taxation (GDT) is encouraging businesses, especially large ones, to implement the e-invoice system and plans to choose some to take part in a pilot project to facilitate their application.

Businesses that produce a large number of paper invoices but conduct their banking and tax declaration transactions online are also encouraged to use e-invoices.

Banking, telecommunications, electricity and airlines businesses have applied e-invoices in their operations and gained significant advantages, according to the General Department of Taxation (GDT).

Using e-invoices helps them save costs on printing, delivering and storing paper invoices and makes accounting easier.

To be eligible to issue e-invoices, product and service providers must have declared their taxes online with relevant agencies or conduct their banking online.

An e-invoice is considered valid if it meets two conditions: the information integrity in the e-invoice must be ensured and it should be fully accessible and able to be used like a paper invoice.

Source VOV News

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