New Circular 68 on e-invoicing guidance

Tuesday, 26/11/2019, 08:35 [GMT+7]

New Circular 68 on e-invoicing guidance

On September 30, 2019, the Ministry of Finance issued Circular No. 68, which will take effect on November 14, 2019, giving detailed guidance on e-invoicing, concerning the implementation of Decree No. 119.
 
Nguyen Thi Dieu Hong, Deputy Chief of Khanh Hoa Department of Taxation's Taxpayer Support & Propaganda Office says under the Circular No. 68, to register for e-invoicing, businesses are required to simply fill and submit e-invoice registration and information change form No. 01 issued under the Decree 119 to tax agencies. Just after 1 working day, tax agencies will send notification of acceptance or non-acceptance to the businesses via the portal of General Department of Taxation.
 
E-invoice numbering system starts from number 1 on January 1 and ends with the maximum 8-digit number 99,999,999 on December 31 annually. The invoice numbers are required to be made in a sequential invoice numbering system with the same invoice code and form code. Each invoice number is made and used once only with a maximum of 8 digits.
 
There are some regulations on how to rectify errors in e-invoices as follows. If a mistake is made in the buyer’s name and address, but other information is correct, the seller should inform the buyer and send a notice form 04 in the appendix issued as the attachment of the Decree No. 119 to tax authorities (the e-invoice will not be required to be re-issued).
 
If the tax code, invoice amount, tax rate, tax amount or description of goods is incorrect, the seller and buyers will need to prepare a document specifying the errors; the seller needs to issue a new e-invoice as a substitute with the note saying: "substitute for the invoice number, code and date" with a digital signature and send to the seller.
 
If the e-invoice with errors has been sent to tax authorities, the seller need to send a notice form 04 in the appendix issued as the attachment of the Decree No. 119 and send the new e-invoice to the tax authorities as stimulated as above pursuant to the Article 16, Circular No. 68.
 
If the tax agency finds an error in the e-invoice, it will send a notice form No. 05 issued as the attachment of the Decree 119 to the seller. Within 2 days from the notice date, the seller will need to send a notice of e-invoice deletion in the form No. 04 issued as the attachment of the Decree 119, make and re-send a new e-invoice to the buyer and the tax authorities.
 
 
Kim Thao
Translated by N.T