The Vietnam Law on Tax Administration takes effect on July 1, 2020. Accordingly, organizations and individuals are required to use electronic invoices from July 1, 2022 (Clause 2 Article 151, Regulations on invoices and electronic documents effective from July 1, 2022). However, the Law encourages organizations and individuals to voluntarily apply the regulations on e-invoices and e-documents before this deadline.
Earlier, the go-live date for mandatory e-Invoicing in the country has been delayed from the 1 November 2020 to 1 July 2022 due to difficulties encountered by local companies to implement a compliant e-invoice solution to meet the shorter deadline.
These new regulations express the determination of the Vietnam Government in creating a favourable business environment for both domestic and foreign enterprises. By applying e-invoices on a large scale, businesses can benefit from the increase in transparency and elimination of transaction risk.
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