The General Department of Taxation under the Ministry of Finance said it has officially launched a pilot project permitting 200 companies to use electronic invoices in Hanoi and Ho Chi Minh City.
The pilot project will be reviewed by the end of this year before being widely implemented at all businesses.
Businesses are permitted to issue invoices through an ‘online anti-fake invoice system’ of tax agencies and use digital signatures.
The system will attach a string of numbers to each invoice to prevent it from being counterfeited. Businesses will send invoices to their customers online.
E-invoices with high security level help businesses reduce invoice print and storage costs, and tax agencies manage businesses’ revenues and the tax amount that they have to pay a single day.