Currently, e-invoices are widely used by enterprises in Vietnam in transactions including the purchase and sale of goods, the provision of services, etc… However, there are still problems in time-consuming procedures, out-of-date management regulations that require repetitive periodic reporting, and so on.
The Ministry of Finance has published a circular establishing a direct connection between the General Department of Taxation and a number of large electronic invoicing suppliers in order to eliminate time-consuming yet wasteful processes and implement solutions on a digital basis. As a result, enterprises can register to utilize the e-invoice software straight away, rather than having to go through a lengthy tax declaration process with the tax authorities. Companies, in particular, do not have to devote time to filing monthly reports on invoice usage.
Data Entry Vietnam expect this direct connection will allow businesses in Vietnam to optimize processes, speed up operations and increase work efficiency even more.