Resolutely and strictly implement regulations on electronic invoices in gold trading, buying and selling activities. By June 15, 2024, any unit that does not implement electronic invoices connected to the tax authority in gold trading will have its license revoked. This is the direction of Prime Minister Pham Minh Chinh at the meeting on monetary and fiscal policies to achieve the goal of stabilizing the macro economy, controlling inflation, promoting growth...
By June 15, 2024, any unit that does not implement electronic invoices connected to tax authorities in gold trading will have its license revoked.
Resolutely must have electronic invoices in gold buying and selling transactions
On April 11, 2024, the Government Office issued Notice No. 160/TB-VPCP on the Prime Minister's conclusion at the meeting on solutions for managing the gold market in the coming time. The Prime Minister requested the State Bank of Vietnam to preside over and coordinate with relevant agencies to strengthen the application of information technology and digital transformation in the supervision, management and operation of the gold market, especially the determination to have electronic invoices in the implementation of gold buying and selling transactions to enhance transparency, improve the effectiveness of supervision and operation, ensure the safe, effective, public and transparent operation of the gold market; immediately revoke the operating licenses of enterprises that do not strictly comply with the provisions of law.
Continuing to issue instructions on electronic invoices in gold transactions, at the meeting on monetary and fiscal policies on the afternoon of May 16, the Prime Minister requested that by June 15, businesses that do not implement electronic invoices connected to tax authorities will have their licenses revoked. The requirement on electronic invoices has been raised many times by the Government, in the context that precious metal transactions are often small-scale, without sufficient invoices, documents, and lack transparency.
According to the Law on Tax Administration, businesses and business households must implement electronic invoices from July 1, 2022. However, in reality, businesses in many localities sell jewelry without invoices, people pay cash directly. Many gold trading businesses pay taxes in the form of lump sums. This situation occurs on a large scale, causing tax losses.
Promote the implementation of electronic invoices
In recent times, the Tax sector has implemented many solutions to promote the implementation of the Prime Minister's direction on controlling the issuance of electronic invoices in gold buying and selling transactions. The General Department of Taxation has also issued a document requesting the People's Committees of provinces and cities to direct agencies and localities to deploy topics to review and handle violations against gold trading establishments that do not issue invoices to buyers in a timely manner and to organize the monitoring and inspection of the maintenance and compliance of gold trading establishments that have applied electronic invoices generated from cash registers.
VNPT Thanh Hoa deploys many solutions to support organizations and individuals in implementing electronic invoices.
Along with all levels and sectors in bringing electronic invoices into life, as one of the first electronic invoice providers in Vietnam, VNPT has deployed electronic invoice solutions for many customers across the system in 63 provinces and cities nationwide. VNPT's electronic invoice service (VNPT Invoice) not only fully meets the regulations of the Ministry of Finance and the General Department of Taxation but is also smart, flexible and highly effective for all types of businesses from small to large. Along with utilities such as cost savings and digitalization of corporate finance, VNPT Invoice is also highly flexible, scalable to many types of specific invoices, and has the ability to integrate with a variety of accounting, sales, and management software of the enterprise, allowing enterprises to quickly compile, report, and export data to tax declaration programs.
To promptly support gold trading units in Thanh Hoa province to ensure the use of electronic invoices in gold buying and selling transactions, VNPT Thanh Hoa is currently introducing solutions to deploy electronic invoices suitable for each gold trading unit in the province. With quick and convenient registration procedures, units and businesses can immediately use VNPT Invoice electronic invoice software, in order to improve management efficiency, prevent tax losses, protect consumer rights, and contribute to the transparency of the gold market.
Nguyen Luong
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