The mandatory use of electronic invoices (e-invoices) generated by cash registers marks a significant step in the Government’s ongoing efforts to modernise tax management and ensure greater fairness and transparency in fulfilling tax obligations.

The Ministry of Finance (MoF) has proposed Vietnam's value-added-tax (VAT) reduction should continue until at least June 2025, saying the tax cut has provided both the business community and the economy with much-needed support.

Tax authorities will employ digital technology to process tax returns, accelerating the delivery of refunds in the fourth quarter of 2023.

Commercial centres, supermarkets, restaurants, and pharmacies will use electronic invoices generated by cash registers and connected to tax authorities from July 1 next year.

Revenue to the State budget totaled 775 trillion VND in the first seven months of this year, equivalent to 58.7 percent of the yearly estimate and up 13.4 percent year-on-year, said the Ministry of Finance. ​

The General Department of Taxation has ruled that from 2018, firms will have to obtain their invoices from the department instead of printing their own.

Transferring the right of suing companies for overdue social insurance payment to workplace-based trade unions has not been as effective as lawmakers had expected.

Tax authorities anticipate collecting at least 680 billion VND (30.4 billion USD) in the remaining ten months of 2016, a 19 percent increase over the same period last year.