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VIETNAM: Implementation of E-Invoices postponed again

Oct 28, 2020 | VAT Updates

VAT Updates Asian

E-invoicing is undoubtedly an evolution of digital transactions and countries are struggling to make the transition from paper to digital. During the pandemic everything is slowed down but also because of the overwhelming infrastructure needed to implement this transition many countries find themselves unable to comply with all the necessary tech & regulations that come along with e-invoicing.

Vietnam has issued Decree 119 according to which all businesses will be required to send an e-invoice to their buyers with the exceptions of individuals or household businesses. The deadline for this was November 14 2019 which was extended to October 31 2020. Currently after evaluating the transition period and implementations of e-invoicing Vietnam once again extended the deadline, this time to July 1 2022. 

Up to this date all local companies must have implemented e-invoicing.

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