On 09 September 2018, the government promulgated Resolution No.119/NQ-CP on regular Government meeting in August 2018. This Resolution has took effect from insurance date.
Accordingly, Resolution No.119/NQ-CP has notable contents as follows:
The Ministry of Finance shall expeditiously assume the prime responsibility and coordinate with the Ministry of Justice, Government Office and other ministries, the concerned agencies shall receive opinions of the Government members, the comment of the Ministry of Justice, verifying the Office of the Government to complete the draft of Tax Control Law (adjustment). To assign the Minister of Finance to authorize the Prime Minister, and report on behalf of the Government to the National Assembly Standing Committee, the National Assembly this Law project.
The Ministry of Finance shall strictly observe the financial discipline and state budget, Strictly manage the state budget from the stage of estimation to administration, conduction, settlement; Focus on reducing tax losses, tax arrears, against transfer pricing, to closely coordinate with localities in resolving to fulfill the State budget revenue estimates; strictly executive, saving, combating wastefulness, especially public procurement, meetings, efforts to reduce budget deficit below 3.7%/GDP. To actively issue government bonds with diversified terms, mobilized channel, in line with payment requirements, disbursement and market movements. Promote the application of electronic tax invoices. Focus on reform, simplify administrative procedures in the field of customs according to international standards. To intensify the management, inspection, detection and strict handling of cases of smuggling, trade fraud and fake goods production and trading.
Thus, the use of electronic invoices is expected to contribute to the optimal cost savings for businesses to ensure safety and accuracy in production business as well as diversify the method of sending invoices to customers.