Vietnam’s tax sector reported state budget revenue of over 1 quadrillion VND in the first five months of 2025, equivalent to 58.5% of this year's estimate and representing a year-on-year increase of 28.6%
Party General Secretary To Lam's meeting with local officials on the merger of An Giang and Kien Giang provinces, the Government's regular meeting for May, public investment disbursement results during the first five months are among news highlights on June 4.
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.
Several key economic and financial policies will come into force from June, directly impacting household businesses, state-owned enterprises, and foreign investors.
The General Department of Taxation requires effective implementation of tax management for electronic commerce activities (e-commerce) and electronic invoices (e-invoices) initiated from cash registers.
Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to keep a close watch on international and domestic gold prices, and put in place measures and tools in a timely and effective way to regulate the gold market in line with regulations.
The tax sector’s total state budget revenue in the first quarter of 2024 was estimated at 490.2 trillion VND (19.64 billion USD), equal to 33% of the estimate for the year, and 10.9% higher than the figure of the same period last year, the General Department of Taxation announced on April 9.
The taxation sector is taking concerted efforts to have 70% of enterprises and business households using e-invoices generated from cash registers later this year under an initiative launched since December 15, 2022.
As many as 3,943 business establishments are set to roll out e-invoices generated from cash registers by March 2023, including 1,850 businesses and 2,093 business households.
Except for several special cases, all enterprises, business households and individuals must use e-invoices instead of paper invoice starting from July 1, according to a circular issued by the Finance Ministry.
The General Department of Taxation on November 21 started to issue electronic invoices (or e-invoices) in Hanoi, Ho Chi Minh City, Hai Phong, Quang Ninh, Phu Tho, and Binh Dinh.
The Hanoi Department of Taxation has worked with software solution providers to support businesses in introducing e-invoices, towards the target that all local companies will switch to e-invoices from late September.
The Vietnam National Petroleum Group (Petrolimex) is ready to issue e-invoices to customers from April 1, according to Deputy General Director Tran Ngoc Nam.
The Ministry of Finance is drafting regulations on e-bills and will ask the Government to set a deadline of July 2018 for businesses to switch over from paper. But local businesses say they don’t have the information technology resources to meet the proposed deadline.
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.
