TABLE OF CONTENTS
On 20 March 2025, the Government issued Decree No. 70/2025/NĐ-CP amending and supplementing several articles of Decree No. 123/2020/NĐ-CP on invoices and documents.
The Decree takes effect from 1 June 2025.
1. Amendment of the regulation on the time of invoice issuance
2. Amendment and supplementation on electronic invoices generated from cash registers
3. Addition of foreign e-commerce suppliers as applicable entities
4. Addition of explanations for multiple terms related to invoices and documents
5. Prohibition of invoice forgery, failure to transmit data to the tax authority
6. New regulations on invoice usage
7. Abolishment of a series of regulations on invoices and documents from June 1, 2025
8. Prohibited acts in the field of invoices and documents
– Time of issuing sales invoices:
The time when ownership or use rights of goods are transferred to the buyer, regardless of whether payment has been made.
– Time of issuing export invoices:
Determined by the seller but no later than the next working day from the date the goods are cleared.
– Time of issuing service invoices:
The time the service provision is completed, regardless of whether payment has been made.
– Time of issuing invoices for partial deliveries:
An invoice must be issued each time goods/services are delivered, corresponding to the volume/value delivered.
– Time of issuing invoices for casino and prize-winning electronic games:
No later than one day after the revenue recognition date.
Additionally, Decree 70 provides specific issuance times for certain cases:
Selling goods, providing services in large quantities and regularly; telecommunications services; construction, installation; real estate, infrastructure construction,….
Decree 70/2025/NĐ-CP supplements Article 11 of Decree 123/2020/NĐ-CP on electronic invoices generated from cash registers.
Household businesses with revenue exceeding VND 1 billion are required to use electronic invoices generated from cash registers that are connected to the tax authority’s data system.
Foreign suppliers without a permanent establishment in Vietnam conducting e-commerce or operating on digital platforms and other services who voluntarily register for e-invoicing under Decree 123/2020/NĐ-CP are subject to the provisions of Decree 70.
IFRS Auditing and Consulting Company Limited
The company provides a wide range of services such as audit of financial statements, tax advice, accounting services and valuation services with leading experts working in large auditing firms, multinational corporations
