According to Decree No. 123/2020/ND-CP on invoices and supporting documents, all taxpayers currently using invoices under Decree 51/2010/ND-CP will switch to using electronic invoices from July 1, 2022. Therefore, on April 21, the Ministry of Finance held a ceremony to announce the activation of the nationwide electronic invoice system with the participation of the Government and leaders at all levels from 63 provinces and cities.
Determined to expand electronic invoicing nationwide.
Following the direction of the Ministry of Finance, the General Department of Taxation organized the implementation and activation of the electronic invoice system in two phases:
Stage XNXX (From November 21, 2021 to March 31, 2022): Successfully implemented in 6 provinces and cities including Hanoi, Ho Chi Minh City, Quang Ninh, Hai Phong, Phu Tho and Binh Dinh. These are key economic hubs, accounting for approximately 60% of businesses and 70% of invoices issued nationwide.
Stage XNXX (From April 2022): Electronic invoicing will be implemented in the remaining 57 provinces and cities.
With high determination and a unified implementation plan, by March 31st, all businesses in the 6 provinces and cities included in Phase 1 had switched to electronic invoices. Notably, during Phase 1, the entire tax sector also carried out preparatory work to support the nationwide rollout of electronic invoices. This implementation process has always received close attention and guidance from the Government, the Ministry of Finance, and active support. of all levels of government.
Over the past few days, support and guidance for taxpayers transitioning to electronic invoices has been implemented in 57 provinces and cities, helping each citizen and business understand the benefits of the new invoice system and cooperate with the tax authorities in its implementation.
The General Department of Taxation aims to achieve a minimum of 50% by May 10, 2022, 90% by May 31, 2022, and 100% by June 30, 2022, of businesses, economic organizations, and individual/household businesses switching to using electronic invoices.
The future benefits of electronic invoices.
In the near future, the National Public Service Portal will connect the electronic invoice service with the National Population Database. This is an important step in electronically connecting the tax sector with other ministries and agencies, making it easier for citizens and businesses to access and conveniently carry out tax administrative procedures.
The successful implementation of the electronic invoicing system will facilitate tax management on a digital platform, serving as a major stepping stone for the digital transformation of the finance sector. Furthermore, the adoption of electronic invoices will help minimize printing, transportation, and storage costs; significantly reduce the time spent on registration procedures and invoice declarations; and prevent invoice forgery.
Electronic invoices are now seen as a major boost to tax administration reform. facilitate Businesses improve the business environment. Developing and modernizing management practices. from that helps to enhance image and brand. To improve the health and transparency of the national financial system.
