As of June 1, 2025, Vietnam’s tax system entered a new phase with stricter regulations targeting business households, marking a major step in formalising the informal economy. A key regulation now mandates business households with annual revenues of VND1 billion or more to issue electronic invoices via point-of-sale (POS) systems. These invoices must be printed at the time of sale and transmitted in real time to the General Department of Taxation, ensuring transparency and curbing tax evasion. The policy also applies to certain high-risk sectors—including food and beverage, retail, beauty care, lodging, and repair services—regardless of revenue thresholds. This shift from subjective self-reporting to a digital, real-time monitoring system reflects the State’s effort to improve tax management and increase compliance. While hailed as a policy breakthrough, it also presents challenges for small businesses adapting to new technologies and stricter reporting requirements. The reform is seen as essential for building a transparent, accountable tax environment. (ICE HO CHI MINH CITY)

Fonte notizia: The Saigon Times