1 Nov 2017
VIETNAM: Deadline for Ending Company-Generated Invoices Extended Until 2019
Companies will continue to be allowed to print their own invoices in Vietnam until 1 July 2019. The country’s General Department of Taxation had previously announced that the practice would be banned as of the beginning of 2018. This extension, however, is seen as recognition that many of the country’s businesses are not yet ready to switch from the current system.
The ban is a key element in the government’s move to force businesses to use either printed invoices sourced directly from the tax office or to switch to the use of Vietnam’s centrally administered e-invoicing system. Either option would see an end to the current tide of fraudulent invoicing that is said to be impacting on tax revenues across the country.
For further details, see VIETNAM: Government Moves to Maximise Migration to E-invoicing.