E-INVOICE PROCESSING SOLUTION
Vietnam Issues New E-Invoices Decree:
The 119 Decree on e-invoice has officially been issued and will be effective from November 1, 2018. The Vietnamese Government forecasts that by 2020, 90% business sentities will use e-invoice for their daily operation.
According to Vietnam Briefing, e-invoice will save time and cost, reduce the administrative burden in account reconciliation and reduce billing frauds.It will save paper, printing and postal costs and enhance the transparency in trading activities by providing a very strong tool to control tax commitments.
The Government estimates around 2.5 billion invoices will be used in each year. Firms can save up to VND 1 trillion ( US$43.9 million) according to Vietnam Briefing Media.
DIGI-TEXX Full Solutions: