Enterprises must begin printing their own value-added tax (VAT) invoiceseffective on Jan 1, instead of buying invoices from tax offices aspreviously.
Most companies have made orders to have their own invoices printed, butmany smaller firms are still unsure about how to use them lawfully.
LawyerTran Xoa, director of the Minh Dang Quang Law Firm, said many smallbusinesses lack experiences using the invoices and need more instructionfrom tax officials to comply with the new regulations.
Meanwhile,companies are being forced to check with authorities regarding thevalidity of their invoices, he said. When their new invoices have beenprinted, they have been required to send notices to the tax authoritiesin a bid to get official recognition of the new forms.
Without this approval, many tax offices are regarding the invoices as non-compliant, Xoa said.
Other companies have delayed printing invoices due to planned changes in office locations.
"Ourlease will expire early in 2012, and we plan to move but have not yetselected a new place, so we have delayed printing invoices," said NguyenVan Quoc, director of the La Quoc Co Ltd in HCM City’s District 4.
TQNAccounting Consult Co director Tran Quoc Nam said early 2011, manybusinesses did not know the regulations on self-printing invoices orthey knew but intentionally hesitated to act until faced with thedeadline. As a result, the limited number of printing houses have beenoverloaded with orders and tax offices are still providing invoices tobusinesses.
Taxation authorities have urged businesses to printinvoices early and have even asked companies to report their oders withprinting houses or sign commitments upon receiving tax agency guides onusing self-printed invoices.
Nam said that the greatestdifficulty presented by self-printing of invoices is the additionalexpense. Although the number of printing houses has risen, and printingprices have fallen somewhat since 2011, the cost of each invoice book isnow about 80,000 VND. Invoices bought from tax agencies, meanwhile,only cost about 16,000 VND./.
Most companies have made orders to have their own invoices printed, butmany smaller firms are still unsure about how to use them lawfully.
LawyerTran Xoa, director of the Minh Dang Quang Law Firm, said many smallbusinesses lack experiences using the invoices and need more instructionfrom tax officials to comply with the new regulations.
Meanwhile,companies are being forced to check with authorities regarding thevalidity of their invoices, he said. When their new invoices have beenprinted, they have been required to send notices to the tax authoritiesin a bid to get official recognition of the new forms.
Without this approval, many tax offices are regarding the invoices as non-compliant, Xoa said.
Other companies have delayed printing invoices due to planned changes in office locations.
"Ourlease will expire early in 2012, and we plan to move but have not yetselected a new place, so we have delayed printing invoices," said NguyenVan Quoc, director of the La Quoc Co Ltd in HCM City’s District 4.
TQNAccounting Consult Co director Tran Quoc Nam said early 2011, manybusinesses did not know the regulations on self-printing invoices orthey knew but intentionally hesitated to act until faced with thedeadline. As a result, the limited number of printing houses have beenoverloaded with orders and tax offices are still providing invoices tobusinesses.
Taxation authorities have urged businesses to printinvoices early and have even asked companies to report their oders withprinting houses or sign commitments upon receiving tax agency guides onusing self-printed invoices.
Nam said that the greatestdifficulty presented by self-printing of invoices is the additionalexpense. Although the number of printing houses has risen, and printingprices have fallen somewhat since 2011, the cost of each invoice book isnow about 80,000 VND. Invoices bought from tax agencies, meanwhile,only cost about 16,000 VND./.
