On September 28, 2010, the Ministry of Finance issued Circular 153/2010/TT-BTC providing guidelines for implementing Government Decree 51/2010/ND-CP dated May 14, 2010. Decree 51/2010/ND-CP governs goods sale and service provision invoices.
According to this circular, businesses (individuals, households or organizations) can create and use different kinds of invoices (including invoices printed by businesses themselves, invoices printed according to the order of businesses, and electronic invoices) if those invoices satisfy law. Businesses in industrial and export processing zones, economic zones and high technology (hi-tech) parks, administrative organizations that produce and trade in goods and services, and businesses that have a chartered capital of VND5 billion upward (referring to capital that is already contributed when related invoice issuance is announced) can create the above-mentioned types of invoices as soon as they are granted a tax code.
Ongoing businesses, which are not among the above-mentioned subjects, can print invoices themselves for goods sale and service provision if they 1) are already granted a tax code, 2) make goods sale and or service provision revenue, 3) have computers, printers, calculators to print and make goods sale and service provision invoices, 4) are accounting units that satisfy the accounting law and have a goods sale and service provision software attached to the related accounting software, and 5) are not yet punished for tax law violation(s).
Businesses (organizations, households and individuals) that have a tax code (excluding households and individuals directly paying the value added tax or VAT) can use invoices printed according to their order. They can choose an invoice form themselves but an invoice must include their name and tax code according to law. In cases where businesses change their addresses and want to use their unused, old invoices (invoices that have their old addresses), they must stamp the new addresses on the unused invoices before using them.
Circular 153/2010/TT-BTC will take effect from January 1, 2011 and replace Circular 120/2002/TT-BTC dated December 30, 2002 (Circular 120/2002/TT-BTC provides guidelines for implementing Government Decree 89/2002/ND-CP dated November 7, 2002. Decree 89/2002/ND-CP provides guidelines for printing, issuing, using and managing invoices) and circulars changing and supplementing Circular 120/2002/TT-BTC./.
Source: VEN
Loading...
