E-invoices are already helping the business community save time and cost

This is a big step in developing the country's digital tax database and improving accuracy, security, and conformity in tax management nationwide.

The General Department of Taxation under the MoF in November started to issue electronic invoices (or e-invoices) in Hanoi, Ho Chi Minh City, Haiphong, Quang Ninh, Phu Tho, and Binh Dinh.

Introduced in 2010, e-invoices have been well supported by the business community as they helped save time and expenses. They have also allowed the department to modernise its management system and to become more time-efficient.

By the end of October 2021, nearly 850,000 businesses had signed up for electronic filings. The department has processed 16 million files in 2021 alone.