Vietnam Implements Compulsory e-Invoicing from July 2022

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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