Vietnam

Implementation Timeline

Who Needs E-Invoices?

• Domestic Businesses: All VAT-registered businesses must issue e-invoices for domestic transactions.
• Exporters: E-invoicing is mandatory for cross-border transactions to ensure compliance with tax reporting.
• Non-Resident Businesses: Entities registered for VAT in Vietnam must issue e-invoices for transactions within the country.

E-Invoicing vs. E-Billing

Key Features of Vietnam’s E-Invoicing System

• Submission Platform: Businesses must submit invoices in XML format through the GDT platform.
• Validation: The GDT validates invoices to ensure compliance with tax regulations and issues a unique invoice code
• Archiving: E-invoices must be stored electronically for at least 10 years in accordance with Vietnamese tax laws.

E-Invoicing Dataset

• Buyer/Seller IDs: Taxpayer identification numbers.
• Invoice Details: Invoice number, issue date, and payment terms.
• Goods and Services: Line-item descriptions, quantities, unit prices, and subtotals.
• Taxes: Applicable VAT rates and amounts
• Transaction Info: Total payable amount, currency, and payment method
• Digital Signature: Ensures authenticity and integrity of the invoice

E-Invoicing Across Transaction Types

• Mandatory e-invoicing ensures compliance with tax regulations and streamlines VAT refunds for domestic and cross-border transactions.
• E-invoices facilitate efficient record-keeping and auditing processes.

• E-invoicing is mandatory for all B2C transactions, including retail and service industries.
• Simplified e-invoices are used for small-scale transactions.

• Mandatory for suppliers to government entities, requiring submission through the GDT platform to ensure compliance and transparency.

Penalties for Non-Compliance

• Fines: VND 10 million–50 million (€400–€2,000) per violation.
• Operational Challenges: Rejected invoices can disrupt payments and business operations.
• Legal Risks: Increased audits and reputational damage for repeated violations.