Wednesday, November 22 2017

VietNamNews

Firms resist new tax forms

Update: January, 03/2012 - 11:05

 

Companies buy invoices at District 3 Tax Department in HCM City. Many small firms do not know how to use self-printed invoices lawfully. — VNA/VNS Photo  Pham Hau
HA NOI — Enterprises must begin printing their own value-added tax (VAT) invoices effective from January 1 this year, instead of buying invoices from tax offices as previously. Most companies have made orders to have their own invoices printed, but many smaller firms are still unsure about how to use them lawfully.

Lawyer Tran Xoa, director of the Minh Dang Quang Law Firm, told the Phap luat Thanh pho HCM (HCM City Law) newspaper many small businesses lacked experiences using the invoices and needed more instruction from tax officials to comply with the new regulations.

Meanwhile, companies were being forced to check with authorities regarding the validity of their invoices, he said. When their new invoices have been printed, they have been required to send notices to the tax authorities in a bid to get official recognition of the new forms.

Without this approval, many tax offices were regarding the invoices as non-compliant, Xoa said.

Huynh Thi Thanh Thao, an accountant for a small business, said her firm would have to begin using self-printed invoices in the next few days, but her company still needed invoices to cover bills for the closing days of 2011.

Other companies have delayed printing invoices due to planned changes in office locations.

"Our lease will expire early in 2012, and we plan to move but have not yet selected a new place, so we have delayed printing invoices," Nguyen Van Quoc, director of the La Quoc Co Ltd in HCM City's District 4 told the Phap luat Thanh pho HCM (HCM City Law) newspaper.

TQN Accounting Consult Co director Tran Quoc Nam said early 2011, many businesses did not know the regulations on self-printing invoices or they knew but intentionally hesitated to act until faced with the deadline. As a result, the limited number of printing houses have been overloaded with orders and tax offices are still providing invoices to businesses.

Taxation authorities have urged businesses to print invoices early and have even asked companies to report their orders with printing houses or sign commitments upon receiving tax agency guides on using self-printed invoices.

Nam said that greatest difficulty presented by self-printing of invoices was the additional expense. Although the number of printing houses has risen, and printing prices have fallen somewhat since 2011, the cost of each invoice book was now about VND80,000. Invoices bought from tax agencies, meanwhile, only cost about VND16,000. — VNS

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