Improving security of e-invoices

	E-invoices: a key turning point contributing to building digital Finance
	Preparing resources for implementing e-invoices
	Tax sector implements e-invoice nationwide

The talk show on December 1.

Positive results

“According to data from the e-invoice system of the General Department of Taxation, 40,000 enterprises have registered for the application of e-invoices under Decree 123/2021/ND-CP and Circular 78/2021/TT-BTC, and about 81,000 e-invoices with tax codes have been made,” said by Director of the Policy Department under the General Department of Taxation Luu Duc Huy at an online talk show with theme of “Benefits of e-invoices” held by Vietnam Financial Times on December 1.

Currently, the country’s top tax agency has posted information of 40 e-invoicing solution providers on its portal.

“The initial results are positive. Although there were some problems related to transmission lines and software solutions in the early stages, the tax sector, e-invoicing solution providers and connection providers have regularly upgraded the application, answered questions from businesses, and ensured the smooth operation of e-invoice system,” Huy said.

Head of the Legal Department of Vietnam Chamber of Commerce and Industry Dau Anh Tuan said the Finance and Tax sectors have been the pioneers in applying information technology and digital transformation.

The Tax sector has made great efforts and prepared the infrastructure to implement e-invoice transformation across the country. This transformation has satisfied the business community, which has avoided fraud in buying and selling invoices, the illegal use of e-invoices, and saved costs in issuance and related work. For retail companies or organizations that carry out small transactions, the e-invoice application is convenient for administration, saving costs and helping business operations become more effective.

“Previously, many businesses voiced concerns that the roadmap of the e-invoice transformation was too short or about costs and transmission lines. However, I think the tax sector understood this matter and will provide solutions to resolve the problems. Moreover, the implementation roadmap will be conducted according to each phase and each region instead of simultaneous application. In my opinion, the Tax and Customs sectors will face difficulties in the transformation process, but these difficulties will not last. Business will easily apply e-invoices,” Tuan said.

Improving security

The Head of Legal Department of Vietnam Chamber of Commerce and Industry said security plays an important role because information related to transactions, prices and orders is the core of every business. Therefore, the Tax sector needs ensure the confidentiality of information for the businesses. In addition, the tax sector should instruct and assure businesses that their information will be protected and not be disclosed. This will be the core factor to successfully apply e-invoices to all businesses.

At the talk show, Director of Nacencomm Card Technology Joint Stock Company Phung Huy Tam said that the Tax sector has provided strict and transparent requirements on e-invoice solutions as well as transmission of the e-invoices.

"The e-invoice system requires big data and absolute accuracy. Security is a sensitive issue, so we always make great efforts. E-commerce has many layers of security. To ensure security, there must be technology such as digital signatures. For secure transmission of data, encryption must be applied. Another important part is that infrastructure and data need to use technology processes and be effectively performed by people,” Mr. Phung Huy Tam said.

To implement the e-invoice transformation, businesses need to prepare the infrastructure, human resources, and appropriate e-invoice service providers. In addition, businesses also need to learn about legal documents so that they will not face errors and difficulties in the application of e-invoices, Tuan recommended.

The business community and taxpayers also need to learn and grasp new regulations so that they can actively convert from paper invoices to e-invoices, avoiding effects on production and business activities, as well as failing to take advantage of preferential opportunities offered by e-invoice service providers.