The Vietnamese Ministry of Finance promulgates a Circular guiding the Vietnam Law on Tax Administration

On September 29, 2021, the Vietnamese Ministry of Finance issued Circular No. 80/2021/TT-BTC guiding the implementation of a number of articles of the Law on Tax Administration and Decree No. 126/2020/ND-CP dated October 19, 2020 of the Government detailing a number of articles of the Vietnam Law on Tax Administration.

The scope of the regulation of the Vietnam Tax law

This Circular guides a number of contents on invoices and documents as prescribed in the Vietnam Law on Tax Administration. Some contents about e-invoices include: authorization to make e-invoices; denominator symbols, electronic invoice symbols; change to apply electronic invoices with tax authority’s code; apply e-invoices to a number of other cases; processing e-invoices, the summary table of e-invoice data sent to tax authorities contains errors; e-invoices with the tax authority’s code are generated from the cash register with an electronic data transfer connection with the tax authority; Criteria for organizations providing services on e-invoices to sign contracts to provide e-invoice services with tax authority codes and services of receiving, transmitting and storing invoice data and other services.

In addition, some contents about paper invoices are also adjusted, including: name of invoice type, symbol of invoice model number, invoice symbol, name of invoice printed by the Tax Department, symbol of invoice model number is stamps, tickets and cards printed by the Tax Department.

Accordingly, the application file for exemption from late payment due to natural disasters, disasters, epidemics, fires, unexpected accidents (accident) includes: written request made according to the form; documents certifying the time and location of the incident, issued by the competent authority; the document determining the material damage of the financial agency/independent assessment agency; documents on responsibility of organizations and individuals to compensate for damage (if any); documents related to compensation for damage (if any).

Dossier of request for exemption of late payment interest due to other force majeure circumstances as follows: written request made according to the form; a document determining the value of material damage from a financial agency/independent assessment agency; documents proving that the risk is not subject to the cause and responsibility of the taxpayer who is unable to finance the state budget payment; documents related to compensation for damage (if any).

The amount of late payment exempted in the above cases is the amount of late payment owed at the time of the occurrence of an incident or other force majeure situation and does not exceed the material value of damage after deducting compensation amounts. Normally, insurance according to regulations (if any).

Many new points bring benefits to businesses and regulators

In the context that e-commerce business activities develop more and more widely, it is extremely necessary to develop and issue regulations on tax administration in this field. Although the provisions in the new law are only one of the guiding contents, they play an important role in tax administration for e-commerce business. In the coming time, when issuing guiding documents, there will be specific regulations on management content with e-commerce activities.

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