On November 29, the National Assembly agreed to reduce by 2% VAT from January 1, 2024 to June 30, 2024. 1. TYPES OF GOODS AND SERVICES THAT ARE ELIGIBLE FOR VAT REDUCTION AND NON-REDUCTION Based on Clause 1, Article 1 of Decree 94/2023/ND-CP, the 2% reduction in VAT will be applied to groups of goods…

AMnote would like to respectfully announce: From January 1, 2024, e-invoice software system AM-Einvoice will automatically update and change the reference number of e-invoice for New year(’2024) based on regulations (Clause 1b, Article 4, Circular 78 /2021/TT-BTC). Specifically: Two characters in the number should be changed to the last two digits of the year in…

1. WHAT IS E-INVOICE FORMAT? Based on Clause 1, Article 12, Decree 123/2020/ND-CP, The e-invoice format is the technical standards for type of data, length of data of information fields serving transmission, storage and display of e-invoices. E-invoices shall be XML documents (eXtensible Markup Language), which are meant to share electronic data between IT systems…

1.CONDITIONS TO APPLY E-INVOICES GENERATED FROM POS CASH REGISTER Based on guidance in Section 3 of Official Letter 15461/CTTPHCM-TTHT in 2022, the conditions for applying e-invoices generated from POS cash registers include: Being able to transact with the tax authority by electronic means (such as a digital signature registered with the tax authority to be…

1. REGARDING HANDLING OF ISSUED ERRONEOUS E-INVOICES Official Dispatch No. 1647/TCT-CS dated May 10, 2023 on handling of erroneous e-invoices has instructions as follows: “Based on the provisions in Point b, Clause 2, Article 19 of Decree No. 123/2020/ND-CP and Points c and e, Clause 1, Article 7, Circular No. 78/2021/TT-BTC. Based on Decision No….

I. REGULATIONS ON THE TIME OF ISSUING INVOICE BY TYPE OF BUSINESS Sale of goods: Based on Clause 1, Article 9 of Decree No. 123/2020/ND-CP, Invoices for sale of goods (including the sale of state-owned property, property confiscated and put into state fund, and the sale of national reserve goods) shall be issued when the…

WHAT IS A CONVERTED INVOICE? Invoices converted from electronic invoices (e-invoices) are paper invoices , which is printed out from e-invoices, ensuring complete matching of e-invoices’ information. After converted invoice is printed from an issued e-invoice, the enterprise could not add, remove or change information on the converted invoice. WHEN CONVERT ELECTRONIC INVOICE INTO PAPER…

Types of goods and services that are eligible for VAT reduction and non-reduction to 8% from July 1st , 2023 based on legal regulations Business establishments that pay VAT using the credit-invoice method shall pay 8% VAT for the following goods and services: (1) Telecommunication, financial activities, banking activities, securities, insurance, trading of real estate,…

Based on the Law on Tax Administration, Decree 123/2020/ND-CP, Circular 78/2021/TT-BTC, Decision No. 1391/QD-TCT, Official Letter No. 406/TCT-DNNCN, Official Letter 15461/ CTTPHCM-TTHT on deploying the use of E-invoice with authentication code of Tax Authorities which are generated from the cash register (POS). We have launched AM-POS – a solution for e-invoices generated from cash register…

Hanoi, Hai Phong, and Ho Chi Minh City are the three selected localities to pilot the issuance of e-invoices generated from POS cash registers. Although e-invoices have been implemented nationwide, they aren’t frequently used in direct-to-consumer industries including restaurants, hotels, supermarkets, entertainment services, and gold shops, etc. Therefore, the Tax Department is piloting the deployment…