E-invoice system launched to save business costs, increase transparency

Deputy Prime Minister Le Minh Khai (fourth from left) attend the launching ceremony of e-invoice system, Ha Noi, November 21, 2021. Photo: VGP

In the first stage, the system will used by six cities and provinces, namely Ha Noi, Ho Chi Minh City, Binh Dinh, Hai Phong, Quang Ninh, and Phu Tho where the number of enterprises account for 60 percent of Viet Nam’s total operating enterprises and 70 percent of invoices nationwide.

This is a big step forward in the Ministry of Finance’s effort to save costs for businesses and society, create open and transparent business environment, and contribute to accelerating national digital transformation process.

To prepare for the launch of the e-invoice system, the General Department of Taxation under the Ministry of Finance opened e-invoice development centers located in its headquarters and local taxation departments of the aforesaid localities.

In the second stage starting from April 2022, the e-invoice system will be deployed to other 57 cities and provinces to make sure all enterprises use e-invoices by the end of June next year.

Authorities began to provide online taxation registration and online taxation declaration services in 2009. In 2015, the services were expanded to cover tax payments and tax refunds.

Statistics show the rates of online tax registration, online tax declaration, online tax payments and online tax refunds respectively reached 100 percent, 99.9 percent, 99 percent, and nearly 98 percent./.

By Quang Minh