Summary of Decree No. 70/2025/ND-CP Amending and Supplementing the Provisions on Invoice Issuance Time

Decree No. 70/2025/ND-CP was issued on March 20, 2025, amending and supplementing several provisions of Decree No. 123/2020/ND-CP dated October 19, 2020, which regulates invoices and receipts. The Decree takes effect from June 1, 2025.

Here is a summary of the main contents of the Decree:

1. Amendments and Additions to Invoice Regulations:

   • Electronic Invoices:

     • Invoice generated from cash registers: This invoice is created by a cash register system connected to the tax authorities' electronic data transmission system. It must include a tax authority code or electronic data for buyers to access the information.

     • E-commerce invoices: Applicable to organizations and businesses involved in the export of goods and services abroad.

     • Electronic invoices for public asset sales: Used when selling or transferring public assets as per legal regulations.

   • Invoice and Receipt Destruction Regulations:

     • Electronic invoice destruction: Ensures that the invoice is no longer available in the system and cannot be accessed or referenced.

     • Paper invoice destruction: Methods such as burning, cutting, or tearing to ensure the invoice cannot be reused.

     • Electronic invoice service providers: Organizations providing electronic invoice services must ensure the creation, transmission, reception, storage, and processing of electronic invoice data.

2. Regulations on the Time of Issuance of Invoices:

   • Sale of Goods: The time is when ownership or usage rights are transferred, regardless of whether payment has been made.

   • Export of Goods: Determined by the seller but must be completed no later than the next working day after customs clearance.

   • Provision of Services: The time of completion of the service, regardless of whether payment has been made. If payment is received before or during service provision (except for deposits or advances for specific services), the time of invoice issuance is when the payment is received.

   • Specific changes for certain cases:

     • Large-volume, recurring services: The invoice must be issued no later than the 7th day of the month following the transaction or 7 days after the end of the contractual period (e.g., electricity, water, telecommunications, logistics, banking services - except loans).

     • Oil exploration and processing: Invoice issued at the official price confirmation time. For gas, the invoice is issued at the determined volume of gas supplied for the month, no later than the last day of the tax declaration period.

     • Loans: Based on the interest payment schedule. If interest is not collected and is monitored off the balance sheet, the invoice is issued when interest is received. For foreign exchange agents, the invoice is issued at the completion of the service.

     • Taxi with fare software: The invoice is issued at the end of the trip.

     • Medical services: If no request is made by the customer, the healthcare facility issues the invoice at the end of the day. If requested by the customer, the invoice is issued immediately. For social insurance, the invoice is issued at the time of payment.

   • New regulations for invoice issuance time in specific sectors:

     • Insurance business: The time of revenue recognition.

     • Lottery business: For pre-printed lottery tickets, the invoice must be issued before the next draw.

     • Casino and electronic gaming: The invoice must be issued no later than one day after the revenue confirmation date (from 00:00 to 23:59).

3. Invoice Contents:

   • Buyer Information:

     • For businesses with a tax ID, full name, address, and tax ID must be provided.

     • For buyers without a tax ID, the tax ID is not required.

   • Goods/Service Information:

     • The name of the goods/services must be in Vietnamese.

     • Units, quantities, unit price, and total amount must be clearly stated.

4. Electronic Documents Regulations:

   • Personal Income Tax Withholding Documents: Must include full information on the payer, payee, income amount, and tax withheld.

   • Tax Payment Receipts: Must include full information on the collecting organization, payer, and the amount paid.

5. Registration for Electronic Invoice Use:

   • Businesses, economic organizations, business households, and individuals must register to use electronic invoices with the tax authorities.

   • If there are changes to the registered information, notification to the tax authorities is required.

6. Regulations for Handling Incorrectly Issued Electronic Invoices:

   • Correcting or Replacing Electronic Invoices: When an error is found, the seller must adjust or replace the electronic invoice.

   • Notification to Tax Authorities: The seller must inform the tax authorities about the incorrect invoice.

7. Responsibilities of Electronic Invoice Service Providers:

   • Obligations: Provide solutions for creating, transmitting, receiving, storing, and processing electronic invoice data.

   • Responsibilities: Ensure the security of electronic invoice data and notify of any plans to stop or temporarily suspend service provision.

8. Use of Electronic Invoice Information:

   • Accessing Electronic Invoice Data: Government agencies, credit institutions, and electronic invoice service providers have the right to access and use electronic invoice information.

   • Data Security: Entities using electronic invoice information must ensure confidentiality.

Decree No. 70/2025/ND-CP marks an important step in modernizing tax management, ensuring transparency and efficiency in the use of electronic invoices and receipts, and providing convenience for businesses and individuals in fulfilling their tax obligations.

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