DECREE NO. 70/2025/NĐ-CP: AMENDING, SUPPLEMENTINGON INVOICES AND DOCUMENTS

On March 20, 2025, the Government issued Decree No. 70/2025/NĐ-CP amending and supplementing Decree No. 123/2020/NĐ-CP dated October 19, 2020 of the Government on invoices and documents (effective from June 1, 2025).

W&A respectfully presents several new provisions of Decree No. 70/2025/NĐ-CP to help our valued clients stay up to date with the latest regulations on invoices and supporting documents as follows:

PART 1 – SUMMARY

1.     Addition of applicable subjects: foreign e-commerce providers

Accordingly, foreign providers without a permanent establishment in Vietnam, engaging in e-commerce, digital platform-based business, and other services, who voluntarily register to use electronic invoices under Decree 123/2020/NĐ-CP, shall fall within the scope of this Decree.

With this new regulation, enterprises using services of foreign providers who use VAT electronic invoices will be entitled to deduct the VAT amount declared and paid by the foreign provider in Vietnam.

2.     Addition of “electronic commercial invoice”

Electronic commercial invoices are invoices managed by tax authorities, applied to organizations, enterprises, and individuals who export goods and services abroad and are capable of transmitting invoice data electronically to tax authorities. If this condition is not met, exporters will issue VAT electronic invoices or sales electronic invoices.

3.     Additional regulations on invoices for other business activities of Export Processing Enterprises (EPEs)

·       Declaring VAT under the direct method: use sales e-invoice.

·       Declaring VAT under the credit method: use VAT e-invoice.

4.     Clarification on the declaration period for adjusted invoices

In case of errors such as tax code; incorrect invoice amount, tax rate, tax amount or incorrect specification/quality of goods: seller and buyer shall make supplementary declaration in the period in which the adjusted or replacement invoice was issued.

In case of other errors: seller declares in the period in which the adjusted invoice is issued, buyer declares in the period when the adjusted invoice is received.

5.     Compulsory preparation of minutes of adjustment or replacement of invoice

Before adjusting or replacing incorrectly issued e-invoices, in case the buyer is an enterprise, economic organization, other organization, business household, or individual business, both seller and buyer must prepare a minute clearly stating the incorrect information. If the buyer isan individual, the seller must notify the buyer or post the announcement on the seller’s website (if available). The seller must keep this document at their premises and present it upon request.

6.    Addressing multiple invoice errors in the same month

If the seller makes the same mistake on multiple invoices for the same buyer in the same month (e.g., buyer’s info, goods name, unit price, tax rate), the seller may issue one adjusted or replacement invoice covering all erroneous invoices in the same month and attach a list of such invoices using Form No. 01/BK-ĐCTT in Appendix IA issued with this Decree.

7.     Specific regulation on the timing of invoice issuance for exported goods

For goods exported (including export processing), the time of issuing electronic commercial invoices, VAT electronic invoices, or sales electronic invoices is determined by the seller, but no later than the next working day from the date the goods are cleared through customs under customs law.

8.     Compulsory information on invoices

·       Transport services: must include vehicle license plate, journey.

·       For transport enterprises providing goods transport services on digital platforms, e-commerce activities must indicate the goods transported, name, address, tax ID, or identification number of the sender.

9.     Addition of regulations on promotional, donated, or gifted goods invoices

In cases of promotional goods or services conducted in accordance with the laws on commerce, as well as gifts, donations, or complimentary goods/services in compliance with legal regulations, the seller is allowed to issue a consolidated invoice for the total value of the promotion, gift, or donation, accompanied by a detailed list of the promoted, gifted, or donated items.

The organization must retain all relevant documents related to the promotional or gifting program and provide them upon request by the competent authorities. The organization shall be responsible for the accuracy of the transaction information and must also provide a detailed summary of the goods or services requested by such authorities.

If the customer requests an invoice for each individual transaction, the seller must issue and deliver separate invoices accordingly.

10.  New guidance on digital signature timing different from invoice issuance time

In cases where an issued e-invoice has a digital signature time that differs from the invoice issuance time, the digital signature and the submission of the invoice data to the tax authority (for invoices with tax authority codes), or the transmission of e-invoice data to the tax authority (for invoices without tax authority codes), must be completed no later than the next working day following the invoice issuance date (except for cases where data is submitted via summary tables as prescribed at point a.1, clause 3, Article 22 of this Decree).

 The seller shall declare tax based on the invoice issuance time. The buyer shall declare tax based on the time the invoice is received, provided that the invoice is valid and complete in terms of format and content as stipulated in Article 10 of this Decree.

11.  Cases of using e-invoices generated from POS systems

Specific guidance cases required to use e-invoices generated from POS systems connected to tax authorities: business households, individual businesses with annual revenue from VND 1 billion or more, under Clause 1, Article 51; Clause 2, Article 90; Clause 3, Article 91 of the Law on Tax Administration No. 38/2019/QH14; and enterprises selling goods and providing services directly to consumers, including:

·       Shopping centers; supermarkets; retail (excluding automobiles, motorbikes, and other motor vehicles);

·       F&B; restaurants; hotels; passenger transportation services; direct support for road transport; arts, entertainment, cinema, and personal service sectors as per Vietnam's economic sector system.

12.  Addressing e-invoices in case of goods/service returns

·       In case of goods return: If the buyer returns all or part of the goods (including cases where an exchange results in a change in the value of the originally purchased goods), the seller shall issue an adjustment invoice, unless the parties have agreed that the buyer will issue an invoice upon returning the goods—in such cases, the buyer shall issue an electronic invoice to the seller. Both parties shall fulfill their tax obligations in accordance with the regulations applicable to the sale of goods.

·       In case the returned goods are assets subject to registration of ownership or usage rights: If the goods are registered under the buyer’s name as required by law, any return must comply with relevant legal provisions. If the buyer is eligible to use e-invoices, the buyer shall issue an electronic invoice to return the goods to the seller.

PART 2 – DETAILED

1. Subjects of application (Article 2)

Addition of entities subject to the use of electronic invoices:

“A foreign supplier without a permanent establishment in Vietnam conducting e-commerce business, digital platform-based business, and other services, voluntarily registering to use electronic invoices,” and using the type of invoice as value-added tax invoices (Article 2 and Clause 1, Article 8).

2. Principles for issuance, management, and use of invoices and documents (Article 4)

(i) Adding cases where the seller must issue invoices to the buyer, including “cases specified in Article 19.”

(ii) Adding provision: Sellers of goods/services, electronic invoice service providers, and tax authorities use the electronic invoice database to implement measures encouraging consumers to request invoices when purchasing goods/services such as: loyalty programs, prize draw programs, lucky invoice programs. For programs encouraging individual consumers to request invoices for communication and awareness purposes carried out by tax authorities, the Ministry of Finance shall organize the implementation using the annually allocated state budget to modernize and improve the effectiveness of tax administration in accordance with the law.

 (iii) Amending, supplementing provision: sellers (including business households and individual businesses) are allowed to authorize a third party to issue electronic invoices.

Current regulation: Decree 123/2020/NĐ-CP only allows enterprises, economic organizations, and other organizations to authorize third parties to issue invoices, and Circular 78/2021/TT-BTC provides that the third party must have an affiliated relationship with the seller.

(iv) Adding regulations: combining receipts and electronic invoices into a single electronic format to facilitate buyers and digital transformation implementation.

3. Types of invoices (Article 8)

 (i) Adding regulations on invoice types for Export Processing Enterprises (EPEs): The EPE engages in other business activities (apart from processing), and applies the direct VAT method, then it uses sales invoices; if applying the credit method, then it uses VAT invoices.

(ii) Adding electronic commercial invoice: “An invoice applied to organizations, enterprises, individuals (exporters) engaging in exporting goods or providing services abroad, where the exporter is capable of electronically transmitting invoice data to the tax authority. The electronic commercial invoice must meet content requirements under Article 10 and the standard data format of the tax authority under Article 12 of this Decree.

If the exporter does not meet the condition to electronically transmit the invoice, they shall issue a VAT e-invoice or a sales e-invoice.”

4. The timing of invoice issuance (Article 9)

(i) Adding regulation on the timing of invoice issuance for exported goods (including goods processed for export) (issuance of a commercial e-invoice, VAT e-invoice, or sales e-invoice): determined by the seller but no later than the next working day after the goods are cleared under customs law (Clause 1).

(ii) Adding regulation for services provided to foreign organizations/individuals: treated like domestic services – time of invoice issuance is when the service is completed, regardless of payment (Clause 2).

(iii) Specific cases of invoice issuance (Clause 4)

·       Adding cases of large volume/frequently recurring transactions requiring reconciliation between seller and buyer/partner. The invoice issuance time is the time when reconciliation is completed but no later than the 7th day of the month following the transaction month, or no later than 7 days after the end of the agreed cycle. Applies to: railway support services, TV ads, e-commerce, banking (excluding lending), international money transfers, securities, online lottery, toll collection services, and others per MoF guidance.

·       Adding invoice issuance time for insurance business activities: when insurance revenue is recorded per insurance business law.

·       Adding invoice issuance time for traditional lottery tickets and instant-win scratch tickets sold in full denominations: after retrieving unsold tickets and no later than before the next draw. A single VAT invoice with tax authority code must be issued per agent.

·       Adding invoice issuance time for casino and prize-winning electronic games: 1 day after the revenue-determination date. Casino operator must report net revenue (gross revenue minus payouts) using Form 01/TH-DT, Appendix IA, together with invoice data.

·       Adding invoice issuance time for loan activities: based on the interest collection period in the credit agreement. If no interest is collected when due and the lender records it off-book, then invoice is issued upon interest receipt. If prepaid, invoice is issued at the time of early collection.

·       Adding invoice issuance time for foreign exchange agencies and non-cash payment service providers: at the time of exchange or service completion.

·       Amending regulation for sales of natural gas, associated gas, and coal gas via pipelines: invoice issuance is based on volume determined by buyer and seller for the month, but no later than the tax declaration/payment deadline of the tax period.

Current regulation: Decree 123/2020/NĐ-CP allows up to 7 days after seller sends notice of delivered gas volume.

·       Removing Point g, Clause 4: requirement to issue invoices at end of day for retail, F&B chains when accounting is centralized at headquarters.

·       Removing requirement to issue end-of-day or end-of-month invoices for banking, securities, insurance, e-wallet transfer services, electricity resumption services for individual consumers with no invoice request.

·       Amending and supplementing regulations on taxi passenger transport using fare-calculating software: invoice must be issued at the end of each ride and invoice data sent to tax authority.

Current regulation: Decree 123/2020/NĐ-CP required ride info submission, invoice upon customer request only.

·       In Point n, Clause 4, replaced “medical facility providing medical examination and treatment services” with “medical examination and treatment establishment” and adding that such facilities issue invoices to the social insurance agency at the time of cost settlement for insured persons.

5. Invoice information (Article 10)

 (i) Adding buyer information: in addition to name, address, tax ID, must include personal ID or budget-affiliated entity code.

(ii) Adding requirements for goods and service descriptions:

·       For food and beverage businesses, invoices must clearly specify the food and drink items provided. In the case of transportation services, invoices must include the license plate number of the vehicle and the route information (departure and destination points).

·       For transportation enterprises providing services via digital platforms or conducting e-commerce activities, invoices must indicate the name of the transported goods along with the sender’s name, address, tax identification number, or personal identification number.

 (iii) Amending and supplementing details for specific cases such as electricity, water, telecommunications, information technology services, television services, postal and delivery services, banking, securities, and insurance. These services are allowed to issue invoices based on a conventional billing cycle, after reconciling data. Additionally, medical examination and treatment services, as well as other cases guided by the Minister of Finance, are also permitted to issue invoices after data reconciliation, and may attach a detailed statement (appendix) together with the invoice.

(iv) Clarifying that if digital signature time differs from invoice issuance, signature and submission to tax authority must be no later than the next working day (except cases under Clause a.1, Article 22.3). Seller declares tax by issuance time; buyer declares tax upon receipt of valid invoice.

Current regulation: Decree 123/2020/NĐ-CP only specifies tax declaration based on issuance time, not receipt.

(v) For cases where e-invoices may lack full content:

Clarifying that if fuel is to non-business individual buyers, it’s not compulsory to include buyer’s name, address, tax ID, and buyer's digital signature.

Current regulation: Decree 123/2020/NĐ-CP does not require invoice name, form code, serial number, seller signature, or VAT rate.

(vi) Adding content not required on e-invoices for casino and prize-winning games: buyer’s name, address, tax ID, and digital signature.

(vii) Adding provision: VAT invoice-cum-refund form to follow Ministry of Finance guidelines.

6. Invoices generated from POS systems (Article 11)

(i) Entities using e-invoices generated from POS systems:

Adding entities required to use e-invoices generated from POS systems connected and transmitting data to the tax authority: Business households, individual businesses as regulated in Clause 1, Article 51, with annual revenue of VND 1 billion or more; Clause 2, Article 90 and Clause 3, Article 91 of the

Law on Tax Administration No. 38/2019/QH14; Enterprises with sales of goods/services, including direct sales to consumers, such as: Shopping centers; supermarkets; retail (excluding cars, motorbikes, and other motor vehicles); Food & beverage services; restaurants; hotels; passenger transport services; direct support services for road transport; art services, entertainment, cinemas, and other personal services as per the Vietnamese economic sector system.

Current regulation: Circular 78/2021/TT-BTC (Article 8) only provides guidance; use of POS-based e-invoices was not mandatory.

(ii) Required contents of e-invoices generated from POS systems:

·       Name, address, tax ID of the seller.

·       Name, address, tax ID/personal ID/phone number of the buyer, as applicable (if requested).

·       Name of goods/services, unit price, quantity, payment amount. If the organization applies the credit method for VAT, the invoice must show: selling price excluding VAT, VAT rate, VAT amount, total payment including VAT.

·       Time of invoice issuance.

·       Code issued by the tax authority or electronic data enabling the buyer to look up and declare the POS-generated e-invoice.

The seller shall send e-invoices to the buyer electronically (via SMS, email, or other electronic means) or provide a link or QR code for the buyer to retrieve and download the e-invoice.

Current regulation: Circular 78/2021/TT-BTC guides that POS e-invoices must include: seller’s name, address, tax ID; buyer information; item name, unit price, quantity, payment price; issuance time; and tax authority’s code.

7. Application of e-invoices for goods sale and service provision (Article 13)

 (i) Addition of 2 cases allowed to issue electronic invoices (VAT or sales invoices) with tax authority code on a per-transaction basis:

·       Enterprises undergoing bankruptcy proceedings but still conducting business under court supervision.

·       Enterprises, economic organizations, other organizations, business households, individual businesses during the explanation or documentation supplement process.

(ii) Adding: entities allowed to receive invoices must file tax declaration dossiers in accordance with tax administration law; payment of taxes must be made at the time the invoice is issued per occurrence.

(iii) Adding regulation on adjustments or replacements for invoices issued per occurrence.

8. Adjustment and replacement of e-invoices (Article 19)

 (i) Removing regulation on cancellation of incorrect invoices

Current regulation: Decree 123/2020/NĐ-CP allows sellers to cancel incorrect tax authority-coded invoices not yet sent to the buyer and issue new invoices.

(ii) Adding: before adjusting or replacing an incorrect e-invoice, in case the buyer is an enterprise, economic organization, other organization, business household, or individual business, both parties must prepare a written agreement specifying the incorrect details. If the buyer is an individual, the seller must notify the buyer or post a notice on their website.

Current regulation: Decree 123/2020/NĐ-CP does not require a written agreement.

(iii) Adding: allows for issuing one replacement/adjustment invoice for multiple erroneous invoices issued in the same month to the same buyer.

(iv) Clarification: if the tax authority finds a tax-coded or non-tax-coded e-invoice incorrect, they notify the seller, who must verify the error and make adjustments or replacements accordingly.

(v) Elimination: the regulation that the tax authority must notify within 1 working day regarding receipt and processing of invoices is removed. The taxpayer is now responsible for reviewing errors.

Current regulation: Decree 123/2020/NĐ-CP states that failure to notify leads the tax authority to conduct invoice usage inspection.

(vi) Adding: issuance of adjustment invoices in certain cases (Clause 4):

“a) For e-invoices issued correctly for goods/services, but actual payment or finalization results in a change in value or quantity based on competent authority’s conclusions, the seller issues a new e-invoice for the difference (negative for reductions, positive for increases), consistent with actual transactions.

b) For trade discounts based on quantity or revenue: the discount is adjusted on the last purchase invoice or in the next period, ensuring the discount does not exceed the value of goods/services. An adjustment invoice can be issued with an attached list of adjusted invoices, amounts, and VAT. This list must be kept and presented upon request. Based on the adjustment invoice, both parties adjust revenue and VAT in the respective period.

c) Handling e-invoices in cases of return of goods/services:

c.1) If goods are returned wholly or partially (including exchanges affecting value), the seller issues an adjustment invoice unless otherwise agreed for the buyer to issue the return invoice. Tax duties are fulfilled accordingly.

c.2) If the goods are assets requiring ownership/use registration and are registered in the buyer’s name, the buyer (if using e-invoices) issues a return invoice.

c.3) For refund/reduction of insurance fees, brokerage commissions, or other deductions under insurance business law: based on the issued invoice and a written record/agreement specifying refunded amount (excluding VAT), the insurer issues an adjustment invoice for the customer, regardless of whether payment has occurred. The invoice must state the refunded amount and reason. This record is kept with the original invoice and presented upon request.

For c.1, c.2, c.3, both parties must have complete documentation and present upon request.

c.4) If the seller has issued an invoice for advance payment (e.g., for real estate, infrastructure, housing projects) and the transaction is later cancelled or partially terminated, the seller adjusts the e-invoice as per Point b.1, Clause 1 of this Article.

d) For card payment service providers who have issued an invoice and later process a refund to merchants, the provider issues an adjustment invoice per Clause 1, without stating “Adjustment for invoice no... form no... symbol... date...”

đ) For telecom services where prepaid mobile cards are used to pay for postpaid services, charitable SMS, or other services legally paid via prepaid cards, and where VAT invoices were already issued upon card sale or service provision, the telecom provider issues adjustment invoices based on summary data or working minutes with partners/customers.”

(vii) Adding: application of adjustment/replacement invoices (Clause 5):

 “d) For cases under Point b, Clause 1, seller and buyer shall declare in the period of the original (adjusted/replaced) invoice.

đ) For cases under Clause 4, seller declares in the period the adjustment invoice is issued, buyer declares in the period it is received.”

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