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| The General Department of Taxation has issued guidelines for issuing invoices with a reduced value-added tax (VAT) rate of 8% for the year 2022. (Source: thuvienphapluat) |
The General Department of Taxation has issued guidelines for issuing invoices with a reduced VAT rate of 8% for the year 2022.
Accordingly, the General Department of Taxation provides guidance on issuing invoices with a reduced VAT rate of 8% for the year 2022 in Decree 15/2022/ND-CP as follows:
(1) Regarding the time of issuing special invoices:
On March 23, 2022, the Ministry of Finance issued Official Letter 2688/BTC-TCT dated March 23, 2023, providing guidance to the Tax Departments of provinces and cities on VAT under Decree 15/2022/ND-CP, including guidance on the timing of invoice issuance.
On September 22, 2022, the General Department of Taxation issued Official Letter 3522/TCT-CS dated September 22, 2022, in response to the Ho Chi Minh City Tax Department and sent to the Tax Departments of provinces and cities, which included guidance on reducing VAT in cases where the time of invoice issuance is specific.
The Provincial and City Tax Departments under the Central Government are requested to study the content and guide their units in implementing the instructions from the Ministry of Finance and the General Department of Taxation mentioned above.
(2) Regarding invoicing in some cases:
- In cases where goods and services are eligible for VAT reduction under Decree 15/2022/ND-CP, if errors are discovered after December 31, 2022, and an adjusted or replacement invoice is issued without affecting the amount of goods and VAT payable, or if the taxable price is adjusted, the adjusted or replacement invoice will apply a VAT rate of 8%.
In cases where an error in the quantity of goods leads to an error in the amount of goods and VAT, the adjusted or replacement invoice will apply the VAT rate as prescribed at the time the adjusted or replacement invoice is issued.
- In cases where goods were purchased before January 1, 2023, with a tax rate of 8%, and after December 31, 2022, the buyer returns the goods due to incorrect specifications or quality, the seller shall issue a return invoice to adjust or replace the previously issued invoice with a VAT rate of 8%. The seller and buyer must agree to clearly state that the goods are being returned.
- In cases where a business applies trade discounts to customers, and for goods subject to a VAT reduction of 8% that were sold in 2022 but invoices showing the trade discounts were only issued from January 1, 2023 onwards:
+ If the discount amount is applied to the last purchase or the period following December 31, 2022, the discount amount for the sold goods will be adjusted in the taxable price, with the tax rate applied according to current law at the time the invoice is issued.
+ If the discount amount is calculated at the end of the discount program (period) after December 31, 2022, the seller shall issue an adjusted invoice and apply the VAT rate of 8% at the time of sale.
- In the case of a business selling goods or providing services (eligible for VAT reduction under Decree 15/2022/ND-CP) but issuing invoices after December 31, 2022, for revenue from the sale of goods and services generated from February 1, 2022, to December 31, 2022, and construction and installation activities with a time of acceptance and handover of the project, project item, or completed construction and installation volume, regardless of whether payment has been received or not, determined from February 1, 2022, to December 31, 2022, but after December 31, 2022:
Businesses that issue invoices for construction and installation revenue that has been inspected and handed over are considered to be issuing invoices at the wrong time, are eligible for VAT reduction under Decree 15/2022/ND-CP, and will be subject to administrative penalties for issuing invoices at the wrong time.
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