Can a company self printed invoices if its charter capital is less than VND 15 billion?

Fri, 24 Feb 2017 10:41:56 AM GMT + 7    Print   Email   Share:

Where a company has a charter capital less than VND15 billion is using self-printed invoices before the date of Circular No. 39/2014 / TT-BTC taking effect (from the date of 01.06.2014) if company is not subject to the target group of purchasing invoices of the tax authorities as stipulated, this company shall still be entitled to create invoices.

Ảnh minh họa

A private company of Mrs. Nguyen Ngoc Hanh (Ho Chi Minh City) was established in 1994, the main businesses of the company are gold, jewelry and pawn services. Previously, her business was allowed to print VAT invoices with total number of 1000 invoice, used for pawn services. At present, the company has used over 200 invoice. Recently, Ms. Hanh with reference to Circular No. 39/2014 / TT-BTC dated 03/31/2014 of the Ministry of Finance and has known that a company must have a charter capital of more than VND15 billion is eligible for self-printed invoices.

Ms. Hanh asked, How does her company handle the remaining invoices? Company’s customers are mostly singer customers and they do not request for issuing invoices, with customers who request for invoices, her company shall issue the sales invoices with designed available forms in the accounting software. So far, is her company’s revenue be acceptable? Can her company continue to use the above invoices or has to buy sales invoices of the tax authorities?

Regarding this issue, the Ministry of Finance has the following opinions:

Provisions on buying invoices target groups:

Pursuant to Clause 1, Article 11 of Circular No. 39/2014 / TT-BTC dated 31/03/2014 of the Ministry of Finance on the selling invoices of goods, providing services, guiding the purchasing invoices by the tax authorities: "the tax authorities sell invoices for the following target groups:

a)    Organizations are not business companies, but have business operations (including cooperatives, foreign contractors, project management board.)

Organizations are not business Companies but have business operations, however,  their business operations are not established and operated under the company Law and the other specialized business Law.

 b) Business households and individual;

c) Business organizations, companies pay VAT by the direct method at the rate of % of revenue.

d) Companies which are using self-printed invoices or rented for printing invoices are belong to the high risk on tax…”

Provisions on issuing invoices:

At the Point b, Clause 1 of Article 16 of Circular No. 39/2014 / TT-BTC prescribes issuing invoices: "The sellers must issue invoice when selling  goods and services, including cases where goods, services used for promotions, advertisement, samples; giving, gift, exchanging, paying instead of salary for employees ... ".

At the Clause 2, Article 32 of above circular provides the effect: "The companies, business organizations which are using self printed or ordered printing invoices before the date of this Circular taking effect, if they are not belong to the target groups of switching to buy the tax authorities from the date of this Circular taking effect, they shall be still entitled to create or rent for printing invoices.

For self printed or ordered printing invoices, companies, business organizations which have done notification issued under the guidance on Circular No. 153/2010 / TT-BTC dated 28/9/2010, Circular No. 64/2013 / TT-BTC dated 15/05/2013 of the Ministry of Finance, they shall be continued to use ".

Point 2.1 Appendix 4 provides issuing sales invoices: "Organizations who pay tax according to the tax deduction method of selling goods and services are not be payable VAT target groups or the VAT exemption target groups, when they use VAT invoices, on the VAT invoices, they only write the payment prices which are the selling prices, the current tax rate, VAT amounts are not written and crossed off.

Where organizations pay tax by the tax deduction method, but they have businesses of gold, silver, gems and pay VAT by direct method, they shall use the sales invoices for their business operations in gold, silver, precious stones. ".

Determination of taxable income

Pursuant to Article 3 of Circular No. 96/2015 / TT-BTC dated 22/06/2015 of the Ministry of Finance on amending and supplementing Clause 2, Article 5 of Circular No. 78/2014 / TT-BTC that stimulates defining moment turnover for calculating taxable income as follows:

"a) The sales of goods is the time of transformation of ownership or rights to use goods to the buyer.

b) For the provision of services is the time to complete the provision of services or the completion a part of the provision of services to the buyer unless otherwise stated in Paragraph 3 of Article 5 of Circular No. 78/2014 / TT BTC, Paragraph 1, Article 6 of Circular No. 119/2014 / TT-BTC.

c) For air transportation operation which is the time to complete the provision of transportation services to the buyer.

d) Other cases prescribed by law. "

Pursuant to the above provisions, the case of Ms Hanh at present has chartered capital of less than 15 billion and be using self-printed invoices before the date of taking effect of the Circular No. 39/2014 / TT-BTC (from the date 01.06.2014), if her company is not subject to the target group of purchasing invoices of tax authorities as stipulated in Clause 1, Article 11 of Circular No. 39/2014 / TT-BTC, they shall still be entitled to create invoices.

On issuing invoices, in principle, in case buyers do not request for invoices, if the value of goods are below VND 200,000, company is set up an amount receipt at the end of the day according to the sales lists attached, if the price of goods and services purchased more than VND 200,000/ a time, they still have to issue an invoice and on the invoice marked "buyers not request for the invoice" or "buyers do not provide the name, address, tax identification number."


  • By : Thanh Thuy (National Competition) / Translator: HaiYen-Bizic


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