DEPLOYING THE APPLICATION OF E-INVOICES IN HO CHI MINH CITY FROM NOVEMBER 2021

✨ On September 20, 2021, the Minister of Finance signed and promulgated Decision 1832/QD-BTC on the application of e-invoices in Ho Chi Minh City. Accordingly, from November 2021, the application of e-invoices will be applied to enterprises, economic organizations, business households, and business individuals in Ho Chi Minh City (except for some cases in which the conditions are not satisfied).

✨ TASCO Tax agent would like to inform you about some of the main content about this new regulation in the article below, invite businessmen and readers to consult and grasp promptly to avoid violating the law on e-invoices.

✨ On September 24, 2021, the People's Committee of Ho Chi Minh City issued Document No. 7214/VP-KT assigning the Ho Chi Minh City Tax Department to chair and coordinate with the Department of Information and Communications, Department of Planning and Investment and other and relevant departments to urgently advise the People's Committee to implement the implementation of e-invoices.

✨ The implementation of the application of e-invoices in Ho Chi Minh City complies with regulations on e-invoices in the Tax Management Law No. 38/2019/QH14, Decree No. 123/2020/ND-CP dated October 19, 2020, of the Government, regulations on invoices and vouchers and Circular No. 78/2021/TT-BTC dated September 17, 2021, of the Ministry of Finance.

✨ These are very important documents in transforming the management method, using e-invoices and helping to save costs for businesses and society, specifically:

1. For enterprises:

• Using e-invoices helps businesses reduce costs compared to using paper invoices (reducing costs of printing paper, ink, transportation, invoice storage, invoice storage space,...);
• Helping businesses reduce the cost of complying with tax administrative procedures;
• Overcoming the risk of loss, damage, fire when using paper invoices because the e-invoice storage system is backed up, so the possibility of completely losing invoice data is unlikely;
• Using e-invoices creates peace of mind for the buyers: after receiving e-invoices, buyers can check on the tax authority's system to know the exact information of the invoice the seller declares to the tax authority and the information the seller provides to the buyers. In addition, with the tax authority's system to immediately stop the businesses from running away or missing an invoice, it will limit the buyer's use of invoices of these businesses.

2. For tax authorities and other state authorities in performing their management functions:

• Using e-invoices to help tax authorities build a database of invoices;
• Tax authorities and management authorities do not spend many expenses and time comparing invoices like now;
• Contributing to timely prevention of invoices of businesses running away or missing; prevent tax fraud and tax evasion.

3. For society:

• Using e-invoices contributes to overcoming fraudulent use of illegal invoices (invoicing with incorrect content between copies), counterfeiting of invoices;
• Contribute to creating a healthy business environment for businesses;
• Helping the implementation of e-commerce to be more complete from online ordering, online e-invoices delivery, online payment;
• Using e-invoices minimizes the use of printed paper, contributing to environmental protection.

🍀 In order to support businesses in Ho Chi Minh City to comply with the law on e-invoices in a timely manner, TASCO Tax Agent provides e-invoice services for the purpose of helping businesses get a reputable and quality e-invoice supplier, thereby limiting mistakes and unnecessary risks related to the application and use of e-invoices.

🍀 Immediately contact TASCO Tax Agent via hotline: 0975.48.08.68 (Zalo) or register directly at the link below for free and direct advice if you have any questions about the above provisions or are in need of a quality and highly secure electronic invoice software.

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