INSTRUCTIONS FOR MAKING INVOICES WHEN REDUCING VAT FROM 10% TO 8% ACCORDING TO DECREE 15/2022/ND-CP

When making VAT invoices due to the reduction of VAT from 10% to 8% according to Decree 15/2022/ND-CP, business establishments should pay attention to the following contents.

1. For business establishments that calculate VAT by the deduction method:

✨ According to Point a, Clause 3, Article 1 of Decree 15/2022/ND-CP, when making a value-added invoice for the provision of goods and services subject to VAT reduction, at the VAT rate line write " 8%"; value added tax; the total amount to be paid by the buyer.

✨ Based on VAT invoices, business establishments selling goods and services shall declare output VAT, and business establishments purchasing goods and services shall declare and deduct input VAT according to the reduced tax amount stated on the VAT invoices.

2. For business establishments (including business households and individuals) that calculate VAT according to the percentage method on revenue:

At Point b, Clause 3, Article 1 of Decree 15/2022/ND-CP, it is clear that when making sales invoices for the provision of goods and services subject to VAT reduction:

📌 In the column "Total money" write all the money for goods and services before reducing;

📌In the line "Add money for goods and services" recorded by the number that has reduced 20% of the percentage of revenue, and at the same time note: "reduced... (amount) equivalent to 20% of the percentage rate for calculating VATaccording to Resolution No. 43/2022/QH15".

Some note:

️⛳ Business establishments must issue separate invoices for goods and services eligible for VAT reduction. In case a business establishment does not issue a separate invoice for goods and services eligible for VAT reduction, it is not entitled to VAT reduction.

️⛳  In case the business establishment has issued an invoice and declared according to the tax rate or percentage to calculate the VAT that has not been reduced as prescribed in Decree 15/2022, the seller and the buyer must make a record or agreement specifying the error, at the same time the seller makes an invoice to correct the error and delivers the adjusted invoice to the buyer.

⛳  Based on the adjusted invoice, the seller declares and adjusts the output tax, and the buyer declares the adjustment of input tax (if any).

️⛳  In case the business establishments subject to VAT reduction has issued an ordered invoice printed in the form of a pre-printed ticket with its unused face value (if any) and has the need to continue using it, the business establishment shall stamp the price according to the price that has been reduced by 2% of VAT rate or the price that has been reduced by 20% next to the pre-printed price criterion to continue using.

️⛳  Business establishments shall declare VAT-reduced goods and services according to Form No. 01 in Appendix IV issued with Decree 15/2022 together with the VAT declaration.

⛳ Recently, the General Department of Taxation also issued Notice 27/TB-TCT dated January 27, 2022 on upgrading the VAT invoice software to meet the regulations on reducing the VAT rate in Resolution 43/2022/QH15 as follows: after:

️⛳  Above are instructions for making invoices when reducing VAT from 10% to 8% according to Decree 15/2022/ND-CP. If you still have questions, please contact TASCO for free support and answers.

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