Taxation authorities propose delaying e-invoices till July 2019
The General Department of Taxation (GDT) is considering asking the Ministry of Finance to postpone the compulsory application of e-invoices until July 2019, instead of early next year.
The compulsory application of e-invoices might be delayed until July 2019. - (Photo: cafef.vn)
Hanoi (VNA) - The General Department of Taxation (GDT) isconsidering asking the Ministry of Finance to postpone the compulsoryapplication of e-invoices until July 2019, instead of early next year.
Nguyen Dai Tri, GDT Deputy General Director, announced this at a pressconference on e-tax services, held in Hanoi late last week.
Specifically, except firms that are already using e-bills and are small ormicro-scale, GDT proposes that all other companies will have to use e-invoicesfrom July 1, 2019, instead of January 1, 2018, as statedunder the Ministry of Finance’s draft.
Previously, the Ministry of Finance announced that it was drafting regulationson e-invoices and would ask the Government to set a deadline of January 1,2018, for businesses to switch over from paper, which is the current method.
While admitting huge benefits of e-invoices, many enterprises said they werefinding it difficult to meet the proposed deadline.
The Government is seeking to promote e-invoices because GDT’s statistics showedthat while paper invoices cost a total of 4 trillion VND (177.8 million USD)per year, universal e-invoice use would cost only 1 trillion VND. E-invoicesalso make it more difficult for businesses to evade taxes while ensuring theyreceive the tax refunds to which they are entitled.
“The application of e-invoices could create transparency for all transactions.When the use of e-invoice becomes popular, transactions of even less than 200,000VND will result in a tax refund. This could bring huge profits to companies,” DauAnh Tuan, Director of the Vietnam Chamber of Commerce and Industry’s LegalDepartment, said.
The number of businesses using e-invoices has increased steadily. By the end ofJune, there were some 2,700 firms using roughly 400 million e-invoices, up from800 firms at the end of last year. Nearly 2,400 businesses used e-invoicesverified by tax agencies during the pilot implementation in 2014.
However, Tuan expressed doubt about the implementation timeline proposed, asthe department has received many complaints from firms about the short durationin which they are required to replace paper bills.-VNA
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.
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.
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The compulsory application of e-invoices might be delayed until July 2019. - (Photo: cafef.vn) 
