Fasten tax procedure by e-Invoicing

A report of Doing Business 2013 from World Bank on June 2014 showed that Vietnam is one of the countries in the Asia Pacific region spending as many as 872 hours each year for paying tax, 4-fold higher than the average rate, compared to Asia-Pacific countries. This has affected seriously the enterprises's business operation and the competitive position of the economy. E-Invoicing might be the best solution of this problem.

What is e-Invoicing?

Electronic invoicing, or e-Invoicing, is a set of electric data messages about products and service supplies, which is created, set up, sent, received, stored and managed by electronic devices and being processed on computer system of the organization being allocated tax code when selling goods or services; being stored on computers of parties according to regulations of the law about electronic transaction. E-Invoicing has legal value as traditional paper invoice, which has been accepted by the Ministry of Finance, also the General Department of Taxation has encouraged using e- Invoicing widely.

Benefits of e-Invoicing

To enterprises, using e-Invoicing achieve many practical benefits such as reducing costs of printing, sending, preserving, storing; convenient in recording transactions, collating data, administrating businesses; shortening paying time by forming, sending/receiving invoices through electronic devices; contributing to modernize business administration task.

Providing e-Invoicing service

Being one of the top software companies in Vietnam, Vietnam Data Communication Company (VDC) has received the award from the General Department of Taxation about great achievement in coordinating to provide supportive solution and deploy e-Invoice project. VDC provides companies e-Invoice service in 2 different forms in order to help companies choose the best solution for different purposes.

Source: ĐTTC– Translated by Mai Quyen

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