New decree on management and use of invoices
The Government issued the Decree No. 51/2010/ND-CP on 14 May 2010 which abrogates the former Decree No. 89/2002/ND-CP on management and use of invoices.
Decree 51 made some changes to Decree 89 that enterprises and organizations that are satisfied conditions as required by laws to make up its own specimen invoices. Decree 51 has also allowed to use "electric invoices" which are produced on computers of enterprises in accordance with legal provisions on electric transactions. Companies that are not permitted to use their own specimen invoice or electric invoices must purchase invoices issued by the provincial Taxation Departments.
Under the Decree 51, a transaction having total payment less than VND 200,000 shall not be obliged to issue invoices if there is no request from its customer. However, at the end of the day, the company must then issue an invoice reflecting the total retailing payments and stating "retailing without invoices" on the position of customer's name.
The Decree 51 also stipulates administrative penalties in this field, with the minimum of VND 1,000,000 and maximum of VND 100,000,000 in addition to certain supplementary sanctions. This Decree shall take effect from 01 January 2011.
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