On September 17, 2021, the Ministry of Finance issued Circular 78/2021/TT-BTC guiding the implementation of the Law on Tax Administration, Decree 123/2020/ND-CP regulating invoices and documents (“Circular 78”).

One of the notable new points of Circular 78 is the provision on “Roadmap for implementing e-invoice management system of tax authorities”, here are the details.

• Preparation of technical infrastructure for e-invoice system: The General Department of Taxation is responsible for investing in upgrading the technical infrastructure of the e-invoice system to be ready to receive requests and connect with all organizations providing e-invoice services that fully satisfy the criteria specified in Clause 2, Article 10 of Circular 78 from July 1, 2022.
• Take advantage of all available resources on the existing technical and information technology infrastructure: For organizations and individuals wishing to deploy e-invoices before July 1, 2022, the General Department of Taxation is responsible for taking advantage of all available resources on the existing technical and information technology infrastructure for implementation. To encourage organizations that have the ability to participate in providing services of receiving, transmitting, and storing e-invoice data with tax authorities.
• Implementation roadmap: The General Department of Taxation is responsible for announcing the roadmap and the basis for selecting an e-invoice service provider connected to the tax authority to ensure publicity and transparency. In case the number of organizations fully meeting the criteria specified in Clause 2, Article 10 of Circular 78 and wishing to connect with tax authorities exceeds the system’s capacity, the General Department of Taxation shall base on information customers are using the organization’s e-invoice service as of August 31, 2021 (according to management information of the tax authorities) to choose an organization with a large number of customers and sign a contract to provide services of receiving, transmitting and storing e-invoice data as prescribed in Clause 3, Article 10 of Circular 78.
• Guidance on “cancellation of invoices” and “use of receipts of taxes, fees, and charges”: The General Department of Taxation is responsible for guiding the process of canceling invoices printed by the Tax Department and developing a guiding process for the management and using of tax, fee and charge receipts at tax authorities at all levels.

For more detailed information: The Esteemed Readers can refer to the provisions of Article 10 of Circular 78 and other relevant provisions. Circular 78 takes effect from July 1, 2022.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

Hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!