Vietnam’s E-invoicing Mandate – Delayed Until 2022

Victor Duarte
April 15, 2020

The Ministry of Finance in Vietnam recently presented a draft decree to the Prime Minister for ratification, indicating that the go-live date for mandatory e-invoicing in the country will be delayed from 1 November 2020 to 1 July 2022. This proposed delay is in response to difficulties encountered by local companies to implement a compliant e-invoice solution to meet the shorter deadline.

The new timeline proposed in the draft decree is in line with the original date of implementation of the rules concerning the e-invoicing system envisaged in the Law on Tax Administration (Law No. 38/2019 / QH14). Interestingly enough, a later decree also issued in 2019 introduced a shorter timeline until go-live (namely November 2020), and the inconsistencies between the two frameworks made the private sector call for further clarifications on when this new obligation would indeed enter into force. The draft decree now awaiting ratification confirms the original plan of the go-live: July 2022.

Despite the formal extension of the deadline to adopt e-invoicing in Vietnam, agencies, organizations, and individuals are still encouraged to – voluntarily – apply the regulations on electronic invoices before 1 July 2022. In order to support voluntary adoption, the General Department of Taxation still needs to provide the required technical specifications for taxpayers in Vietnam to be able to successfully adopt an e-invoice system for their businesses as soon as possible.

Take Action

Sovos has more than a decade of experience keeping clients up to date with e-invoicing mandates all over the world.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

Victor Duarte

Victor is a Regulatory Counsel at Sovos TrustWeaver. Based in Stockholm and originally from Venezuela, he obtained a Law degree and a specialisation degree in Tax Law in his home country. Victor also earned a Master´s degree in European and Internal Tax Law from Lund University in Sweden.
Share This Post

LATAM VAT & Fiscal Reporting
May 20, 2020
Sovos Acquires Taxweb, Extends Tax Determination Capabilities in World’s Most Challenging Compliance Landscape

Earlier this month Sovos announced its second acquisition of 2020, completing our solution for Brazil with an unparalleled offering that solves tax compliance in the place where it is most challenging to do so.  Too many companies doing business in Brazil have been burdened by managing multiple point solutions for continuous transaction controls (CTCs), tax […]

ShipCompliant United States
December 4, 2020
Sovos ShipCompliant Data Shows Record High Transactions on Black Friday and Cyber Monday

This year, Black Friday and Cyber Monday experienced the highest transaction and sales rates in their history. Black Friday saw an approximate 22% increase in sales, reaching $9 billion and Cyber Monday hit $10.8 billion in sales, up nearly 15% from last year, setting the record for the largest U.S. online shopping day ever. As […]

ShipCompliant United States
December 3, 2020
Illinois’ New Economic Nexus Sales Tax Rules to Affect Direct Wine Shippers

Starting January 1, 2021, many direct-to-consumer (DtC) wine shippers will face an added sales tax burden on their shipments to Illinois. The Illinois Department of Revenue (DOR) published FY 2021-06, which explains the upcoming change. Under the recent “Leveling the Playing Field for Illinois Retail Act,” the state will require all remote sellers with economic […]

EMEA VAT & Fiscal Reporting
December 2, 2020
Brexit and Fiscal Representation

Recently, we outlined the need for speed in understanding fiscal representation obligations. As the UK looks set to become a third country from 1 January 2021, there will be many ramifications for businesses operating cross-border – among them the requirement to appoint a fiscal representative to register for VAT purposes. As outlined in our previous […]

E-Invoicing Compliance EMEA Italy VAT & Fiscal Reporting
December 2, 2020
Italian Tax Controls: Five Key Facts to Know Before the New Year

While Italy rolled out its continuous transaction controls (CTC) reform in 2019, 2020 has been a year of expansion. Italian authorities plan to leverage all potential benefits of the successful implementation of the country’s central e-invoicing platform. Many of the updates will either be launched or enforced in the upcoming year, or later in 2022. […]

Tax Compliance Tax Information Reporting United States
December 1, 2020
Unclaimed Property Dormancy Periods by State: What You Need to Know

Understanding unclaimed property dormancy periods by state and executing the appropriate decisions can make or break your company’s unclaimed property program. This is due primarily to the fact that each state has varying dormancy periods. To complicate matters even further, each state has specific dormancy periods for each corresponding property type. As a result, determining […]