Only entities connected to tax offices can use paper receipts

Individuals and organizations may use paper receipts if their retail sales information systems are connected with tax offices, according to a draft decree on goods and services invoices crafted by the Ministry of Finance.

In particular, Article 31 of the draft decree states individuals and organizations whose businesses are related to supermarkets, malls, restaurants and hotels; retail consumer goods and pharmaceuticals; as well as provide food services would be permitted to issue paper receipts.

Notably, enterprises in some special sectors which cannot issue electronic bills would also be included in the list.

The Finance Ministry would be responsible for providing detailed instructions on how to apply receipts through the point of sale system, and defining the special sectors.

The taxman will print a number of receipts which are sold to business individuals and households; startups that have yet to issue e-bills; and enterprises which are likely to evade taxes.

However, startups are merely permitted to use paper receipts within one year from the date of their establishment. Afterwards, they are obliged to use e-bills with or without the taxman’s codes.

Meanwhile, those beyond the aforesaid groups would use e-bills with, or without the taxman’s codes if they meet technical infrastructure conditions.

Earlier, the Finance Ministry proposed enterprises would use e-receipts instead of paper ones early next year. This was a big worry for many companies, as they would have a short period of time to prepare.

Source: The SaiGon Times