There are issues with converting e-invoices

According to Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), following a pilot period of implementing e-invoices (e-invoices) with many new contents, problems arose that needed to be resolved and responded to, particularly for business households and individuals using e-invoices for the first time.

The Vietnam Chamber of Commerce and Industry (VCCI) collaborated with Mobifone Telecommunications Corporation on May 27 to host a seminar on "E-invoices in compliance with Decree 123/2020 and Circular No. 78/2021 - Considerations for enterprises applying."

Hoang Quang Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), stated that as a representative of the Vietnamese business community, VCCI recognizes that the tax sector employs e-invoices rather than e-invoices. Paper invoices are incredibly beneficial for both organizations and individuals.

However, complications have arisen as a result of the trial phase of adopting e-invoices following Decree 123/2020/ND-CP and Circular 78/2021/TT-BTC with various new elements. Especially for first-time users of electronic bills in businesses and homes.

According to Mr Nguyen Van Phung, Director of Tax Department of Large Enterprises, General Department of Taxation, information on e-invoices will be updated in 2022 by Circular No. 78/2021/TT-BTC and tax policy rules are both with and without the tax authority code.

An e-invoice is given to a buyer by an entity selling products or providing services that do not have a tax authority's code, including the circumstance when the invoice is created from a cash register linked to data transmission with tax authorities.

Enterprises that use e-invoices without a tax authority's code are those that do business in the following industries: electricity; petroleum; post and telecommunications; transportation (air, land, iron, sea, and marine); clean water; credit financing; insurance; medical; e-commerce; supermarket; and others.

To fulfil the needs of tax authorities, traders and enterprises, economic organizations have or will conduct transactions with tax authorities electronically, create information technology infrastructure, have an accounting software system, and e-invoice creating software. Prepare and lookup e-invoices, maintain e-invoice data following rules and ensure e-invoice data delivery to purchasers and tax authorities.

An e-invoice with a tax authority's code has been assigned a code by the tax authority before the seller transmits it to the buyer, including the instance when the contract is created from a cash register that connects electronic data to the tax authority.

The tax authority's code on the e-invoice comprises the transaction number, which is a unique sequence of numbers created by the tax authority's system, as well as a string of characters encoded by the tax authority based on the invoice's seller information.

Ms Do Thi Tuyet Nhung (Honda Vietnam) stated at the training that company input invoices are disclosed monthly. What should be done if the company discovers problems next month?

About this article, Mobifone official stated that, regardless of tax declaration, consumers can opt to change or amend bills. Invoice adjustment time, incorrect month, correct that month.

Specifically, if just the buyer's name or address is incorrect after the invoice has been issued to the buyer, send a notification of the incorrect invoice to the tax office and tell the buyer of the invoice's inaccuracy to avoid having to redo the invoice.

If the invoice has already been issued to the customer and the information differs from the buyer's name or address, one of the two options is available: Creating a replacement invoice or a modified invoice.

If the invoice has been processed in the form of adjustment or replacement and it is determined that the invoice still contains problems, the further processing times will be carried out by the form used when dealing incorrectly. The initial attempt was unsuccessful. That is, notify the tax office of any inaccurate bills and enter into a formal agreement outlining the problem (If the two parties agree to make a record).

Furthermore, numerous firms reported issues producing bills as a result of the VAT cut from 10% to 8% on some commodities. Many people wonder if business discount bills are negative. What are the rules for providing export invoices for return? Representatives of the General Department of Taxation and Mobifone for Businesses have answered questions about how to manage old invoices after transitioning to electronic invoicing.

 Hai An