Proposal for general invoicing for value-added tax rates

After 2 months of implementing Decree 15 of the Government on tax rate reduction v.a.t tax For a variety of goods and services from 10% to 8%, some businesses reported difficulty in issuing invoices for different VAT rates.

To overcome this difficulty, The financial proposed for businesses to bill jointly for goods and services for tax relief as well as no reduction in value added tax.

According to the Ministry of Finance, businesses are currently facing difficulties because they have to make many invoices for each different tax rate (5%, 8%, 10%) for 1 customer. This increases the cost of the business including the cost of accounting time and the cost of using invoices.

Therefore, a representative of the Ministry of Finance said that the Ministry has submitted to the Government to amend this regulation, in the direction that business establishments can make common invoices.

The Ministry of Finance also proposes to retroactively handle cases where separate invoices are not issued from February 1 for goods and services subject to value-added tax reduction. By the end of February 2022, the reduced value-added tax amount has been more than 6,000 billion VND.

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