REGULATIONS ON USE OF E-Billing 2019

What is electronic invoice?

Electronic invoice is a new type of invoice applied by the Ministry of Finance to current business enterprises to replace the issuance and use of paper invoices. Helping to manage and store information more convenient. Bring efficiency and success to the business of the business as well as make tax calculation easier.

In Clause 1 Article 3 of Circular No. 32/2011 / TT-BTC effective from March 14, 2011 of the Ministry of Finance stipulates:

“Electronic invoice is a collection of data on goods trading and service provision that is created, made, sent, received, stored and managed electronically. E-invoices are created, made, and processed on the computer system of an organization granted tax identification numbers when selling goods and services and stored on their computers in accordance with law. electronic transactions. E-invoices must ensure two principles: identifying the number of invoices according to the continuous principle and chronological order, each guaranteed invoice number is only made and used only once. "

Regulations on electronic invoices

The benefits of applying electronic invoices

1. Cost savings:

• Invoice printing (just print invoice in case customers request to use paper invoice)
• Issue invoices to customers (issued via electronic means via portal, email);
• Invoice archiving (storage by electronic means at a small cost)

       2. Easy to manage:

• Convenient for accounting, accounting and data comparison;
• There was no loss, damage or loss of the invoice
• Simplify the tax finalization of your company;
• Convenient for inspection by tax agent unit

     3. Convenient to use:

• Release quickly, in large batches;
• Easy to store;
• Simplify the management, statistics, and search of invoices.

Subjects using electronic invoices

- Organizing units, enterprises: distributing in large quantities such as electricity, water, telecommunications, television.

- Units have many branches in many provinces / cities

- Units with not concentrated customers, in many provinces / cities

- Enterprises export investment contracts at the request of the tax industry.

Release process

- Register to issue with tax authorities

- Generating electronic invoices

- Issue electronic invoices

Time to apply E-Invoices for businesses

According to Decree 119/2018 / ND-CP dated September 12, 2018 - effective November 1, 2018 on electronic invoices

• Before November 1, 2018:

Enterprises are still allowed to order printing and use paper invoices and use up paper invoices if they have notified the issuance of ordered invoices.

• After November 1, 2018:

+ Any enterprise that still has an unused paper invoice will continue to use it until it expires, if by November 1, 2020, it is not required to cancel the paper invoice to use the e-invoice.

+ If the paper invoice is used up before November 1, 2020, it will be converted to an e-invoice without the paper invoice being printed.

• Enterprises established from November 1, 2018 are required to use e-invoices

Handling when electronic invoices are wrongly made

When the initial information on the invoice for buying goods on the system is incorrectly written, the company needs to rewrite the invoice with the correct information, or the customer returns the purchased goods on the system, the company will make a record. invoice adjustment or recover an invoice like a paper invoice then proceed with the recovery procedure on the system.

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