The circular provides detailed guidance on the form and content of general invoices and stipulates methods for generating invoices. Accordingly, an enterprise in an industrial, economic, or export processing zone and an enterprise having contributed capital of VND5 billion or more at the time the invoices are issued are entitled to generate its own tax invoices right after having tax code. An on going enterprise must satisfy conditions regarding revenue, equipments, and an in-house accountant department, and have no history of tax violations or fines to be allowed to generate its own tax invoices.
The circular takes effect on January 1 and replaces circulars 120/2002/TT-BTC, 99/2003/TT-BTC, and 16/2010/TT-BTC.
by Lawyers of Bizconsult Law Firm