Newsletter

Decree 70/2025/ND-CP dated 20 March 2025 amending Decree 123/2020/ND-CP dated 19 October 2020 regulating invoices and documents:

Decree 70/2025/ND-CP of the Government (effective from 1 June 2025) amends and supplements Clause 1 and Clause 2, Article 9 of Decree 123/2020/ND-CP regarding the time of invoice issuance as follows:

– The time of invoice issuance for the sale of goods (including the sale and transfer of public assets and the sale of national reserve goods) is the time of transfer of ownership or right to use the goods to the buyer, whether the payment of the invoiced amount is made or not.

– For export of goods (including processing for export), the time of issuing e-commerce invoices, e-VAT invoices or e-sales invoices shall be determined by the seller, but no later than the next working day from the date the goods are cleared customs according to customs laws.

– The time of issuing invoices for service provision is the time of completion of the provision of services (including service provision to foreign organizations and individuals), whether the payment of the invoiced amount is made or not.

– If a service provider collects payment in advance or during service delivery, an invoice shall be issued when each payment is collected (excluding payments of deposited amounts or advance payments which are made to ensure the execution of contracts for provision of accounting, auditing, financial consulting or taxation services; valuation services; technical survey and design services; supervision consulting services; investment construction project formulation services).

In addition, Decree 70/2025/ND-CP amends and supplements points a, e, l, m, n, Clause 4, Article 9 of Decree 123/2020/ND-CP on the time of invoice issuance for some specific cases such as:

– Selling goods and providing services in large quantities, arising regularly, requiring time to reconcile data between enterprises selling goods, providing services and customers, partners (point a).

– Activities of searching, exploring, exploiting and processing crude oil (point b).

– Lending activities, foreign exchange agency activities, activities of providing services of receiving and paying foreign currencies by economic organizations of credit institutions (point l).

– Passenger transport business by taxi using software to calculate fares according to the provisions of law (point m).

– Medical examination and treatment activities using software to manage medical examination and treatment and hospital fees (point n).

PERSONAL INCOME TAX (“PIT”)

Decree 49/2025/ND-CP dated 28 February 2025 regarding the thresholds for applying temporary exit suspension

Accordingly, the tax debt threshold and debt period in cases of temporary exit suspension are as follows:

– Self-employed individuals, business household owners who are subject to compulsory enforcement of administrative decisions on tax management have tax debts of VND 50 million or more and the tax debts overdue for more than 120 days.

– Individuals who are legal representatives of enterprises, cooperatives, and cooperative unions who are subject to compulsory enforcement of administrative decisions on tax management have tax debts of VND 500 million or more and the tax debts overdue for more than 120 days.

– Self-employed individuals, business household owners, individuals being the legal representatives of enterprises, cooperatives, or cooperative unions are no longer operating at the registered address, have outstanding tax debts that have exceeded the payment deadline and have not fulfilled their tax obligations after 30 days from the date the tax authority issue a notice regarding the temporary exit suspension measures.

– Vietnamese citizens emigrating abroad for permanent residence abroad, Vietnamese citizens residing abroad, foreigners departing from Vietnam who have outstanding tax debts that have exceeded the payment deadline and have not fulfilled their tax obligations.