Vietnam updated regulations on e-invoices, taxpayer risk assessment, and invoicing procedures for business models, effective 1 June 2025.
Vietnam’s Ministry of Finance released Circular 32/2025/TT-BTC on 31 May 2025, offering updated guidance on invoices and related documents under Decree 123/2020/ND-CP (amended by Decree 70/2025/ND-CP).
It outlines how business households and individuals can authorise e-commerce platforms to issue e-invoices on their behalf and introduces new invoice types, such as e-commercial invoices and VAT/sales invoices combined with tax, fee, or charge receipts.
The circular also sets rules for issuing invoices based on reconciliation periods, which apply to high-frequency or bulk transactions. It includes specific guidance for financial leasing companies on invoicing leased assets.
Additionally, it defines criteria for identifying taxpayers with high tax risk based on factors such as previous violations, suspicious transactions, and unclear business operations.
Starting 1 June 2025, organisations must use electronic certificates for personal income tax withholding. Business households using cash register-based e-invoices before this date can continue doing so. Companies that sell directly to consumers, such as retail stores and hotels, may either switch to cash register e-invoices or keep using their current e-invoice method.
If an organisation providing electronic invoicing services entered into a contract with the tax authority before 1 July 2023, the Tax Department requires it to continue operating under the terms of that agreement until 1 July 2025.
