Small businesses are not 'alone' in digital transformation and tax

Technology businesses are joining hands to support small traders in digital transformation, electronic tax declaration, and gradually standardizing operations in the digital age.

In the picture of comprehensive digital transformation that the Government is promoting, technology enterprises are playing an increasingly important intermediary role in supporting the private economy , especially small traders and individual business households to gradually formalize their operations. This is also the subject directly affected when Decree 70/2025/ND-CP amending and supplementing a number of articles of Decree 123/2020/ND-CP dated October 19, 2020 of the Government regulating invoices and documents officially takes effect, posing new requirements in tax declaration, electronic invoice issuance and transaction management.

Grasping this trend, 9Pay Joint Stock Company, a payment intermediary licensed by the State Bank, has proactively implemented a program to provide substantial support to small businesses, with the goal of helping them gradually "transform" from individual business households to enterprise models, while complying with new legal regulations in the context of the digital economy.

Digital payment solutions help small businesses transform digitally. Photo: 9Pay

According to the company representative, more than 90% of customers using their payment solutions are small traders and individual business households, which are considered the backbone of the people's economy, contributing significantly to GDP and creating jobs for the majority of informal workers. However, the biggest obstacle that makes them hesitant to switch is the technology barrier and the rather complicated accounting and tax processes.

From that identification, the support program was designed with the criteria of being easy to understand, easy to use, easy to deploy, even for those who are not familiar with technology. Specifically, this business provides a platform that integrates many functions: from real-time transaction management, automatic revenue notification, QR payment, money transfer, to tax declaration support and electronic invoice issuance. The solution also includes instructions for small traders to register to convert to enterprises right on the sales management application.

The roadmap for completing the tax declaration and electronic invoice support system is expected to be completed in the third quarter of 2025, right when new regulations begin to be tightened. This helps businesses be more proactive in preparing the means, tools and knowledge to comply with new regulations without interruption of operations.

“The program will be deployed for individuals and businesses nationwide using the Loa TingTing application with the goal of supporting thousands of small businesses to successfully convert in 2025,” said Mr. Vu Ngoc, CEO of 9Pay.

Transformation is not just about “coping” with policies but also opening many doors for long-term development: Increasing credibility in the eyes of customers and partners, easily accessing preferential capital sources and gradually professionalizing business operations. In the digital age, small businesses with systematic management are no longer a distant dream.

“Small business is also doing business”, this spirit is spreading strongly, not only from support programs but also from the intrinsic needs of small traders in the journey to rise. They do not need to face change alone. With timely companionship, the transition process will no longer be a pressure but an opportunity to move to a new stage that is more transparent, more sustainable and more modern.

Bank of Commerce

Source: https://congthuong.vn/tieu-thuong-khong-don-doc-trong-chuyen-doi-so-va-thue-389931.html