The Government issued Decree No51/2010/ND-CP on May 14, replacing Decree No 89/2002/ND-CP on themanagement and use of invoices.
In contrast to the earlier decree, Decree No 51 does not require auniform type of invoice but allows enterprises and organisation thatsatisfy conditions set by law to design its own specimen invoices.
The decree also defines electronic invoices for the first time underVietnamese law as those issued and processed on a computerised networkof organisations or individuals with tax codes when trading in goods orservices and which are filed by computer in accordance with legalprovisions on electronic transactions.
Organisations and enterprises which do not meet requirements under lawfor generating their own invoices or using electronic invoices mustcontinue to use invoices under a form issued by provincial taxationdepartments.
An invoice is not required for transactions of less than 200,000 VND,unless requested by the buyer. However, proceeds on transactions of lessthan 200,000 VND not documented by invoices must be totaled at the endof each business day and a total of “retail without invoices” reportedon a separate invoice.
Decree No 51 also sets administrative penalties, including fines of1-100,000,000 VND in addition to some supplementary sanctions. The newdecree takes effect on January 1 of next year./.
In contrast to the earlier decree, Decree No 51 does not require auniform type of invoice but allows enterprises and organisation thatsatisfy conditions set by law to design its own specimen invoices.
The decree also defines electronic invoices for the first time underVietnamese law as those issued and processed on a computerised networkof organisations or individuals with tax codes when trading in goods orservices and which are filed by computer in accordance with legalprovisions on electronic transactions.
Organisations and enterprises which do not meet requirements under lawfor generating their own invoices or using electronic invoices mustcontinue to use invoices under a form issued by provincial taxationdepartments.
An invoice is not required for transactions of less than 200,000 VND,unless requested by the buyer. However, proceeds on transactions of lessthan 200,000 VND not documented by invoices must be totaled at the endof each business day and a total of “retail without invoices” reportedon a separate invoice.
Decree No 51 also sets administrative penalties, including fines of1-100,000,000 VND in addition to some supplementary sanctions. The newdecree takes effect on January 1 of next year./.
