Comply with the provisions of the bill of big business not only help avoid the legal risks, but also optimized the process of managing revenue/cost. This article Accnet will clarify the legal provisions relating to the bill for business, help you master and apply the effect.
1. Regulations applicable objects invoice business
Paragraph 1 of Article 2 of circular 40/2021/TT-BTC: "Business, individual business has revenue from $ 100 million/year and above must use the invoice when selling goods and providing services."
Business has revenue from $ 100 million or more in a year to issue invoice for any sale transaction of goods, provide services. This is stated to strictly control sales, ensure correct collection, collect enough taxes from the business activity. This rule helps to increase transparency in the tax declaration, prevent tax evasion.
- Business coffee shop in ho chi minh CITY.HCM revenue of 120 million/year. Due to turnover exceeded 100 million households in this business have to issue invoice for any sale transaction, from coffee to snacks.
2. Regulations on the types of bills of a business
Article 6 of Decree 123/2020/ND-CP: "Business can use bill electronic or paper invoice, depending on the conditions of its business."
Business can choose to use the electronic bill or a paper bill. Electronic invoices are encouraged to use to reduce the cost of management, storage, more convenient in the report, check. Provisions of the bill of this business also creates conditions for the small business, retail, access to new technology, at the same time is suitable with the trend to convert numbers in tax administration.
- Business service repair mobile phone in Hanoi decided to use electronic invoice to reduce printing costs, easy to send invoices to customers via email. This helps businesses save time, manage bills more effectively.
3. Regulations issued bills of a business
Article 13 of the Decree 123/2020/ND-CP and circular no. 39/2014/TT-BTC: "Business can print, put in the bill or invoice use of the tax level."
Businesses have three options to level invoice: invoice printing, put the printed bill from the printer using bills issued by the tax authority level. This helps businesses choose the method of a bill in accordance with the financial possibilities, the scale of operations, at the same time remain in full compliance with law regulations.
- Business retail cosmetics in Da Nang put in the bill from a house in credits to use in the sales transactions at the store. This option put in the bill to increase professionalism, in accordance with the scale of business.
4. Content regulations bill
Article 10 of Decree 123/2020/ND-CP: "The bill to the full recording of information such as name, business, tax code (if applicable), address, detailed information about the goods and services provided."
The invoice must contain sufficient information on the sellers, including the business tax identification number (if any), address, along with detailed information on goods/services offered. Provisions of the bill of this business help the transaction is recorded accurately, be checked and verified by the tax authority. The lack of information/incorrectly recorded on the bill can lead to various penalties depending on the level.
- A business grocery store in Binh Duong released invoice full name, business address, tax code, detailed information about the items sold, including quantity, unit price, VAT (if any) and the total payment amount.
5. Regulations on procedure for registration
Article 15 of Decree 123/2020/ND-CP: "Business must be registered to use invoice with the tax authority before issuing the invoice."
Before the release of the bill, businesses must register with the tax authorities to be granted tax recorded on the system of tax administration. This procedure helps the tax management, closely monitor the business activities of business, at the same time prevent the use of illegal invoices.
- Before opening the restaurant in Hai Phong, big business has done register using bills with tax authorities. This was filing a registration bill, which was granted tax code, then the new start issuing invoices when the sales.
6. Regulation of store receipts of the business
Article 11 of Decree 123/2020/ND-CP: "The bill must be stored for at least 10 years, ensuring intact, complete to service and inspect."
Bills that need to be stored for at least 10 years to cater for the inspection of the tax authority. Storage this could take the form of paper/electronic, but must ensure the integrity, completeness. Provisions of the bill of this business help revenue recognition, tax obligations of business continuity
- Business transportation services in Dong Nai store all invoices issued within the last 10 years under the form of hard copy, electronic form. This helps business is always ready to deal with any request check from the tax authority.
7. Rules for handling errors goods
Article 19 of Decree 123/2020/ND-CP and circular 78/2021/TT-BTC: "If the invoice has released has flaws, the business must be part of the program, or cancel the invoice in accordance with the regulations."
In the case of bills released erroneous information, business must be part of the program, or cancel the invoice in accordance with the law. This process ensure all transactions are accurately recorded, in full, help prevent errors can cause financial loss, violation of the law.
- Business a grocery store has released the bill with content errors on the number of goods sold. Specifically, the bill recorded sale 50 milk cartons, but in fact only sell 30 boxes. When errors are detected, this business owner immediately of the program, which clearly flaws. Then, proceed to cancel the old bill, released a new invoice with the right information to replace.
8. Rules declare tax on bills of business
Article 7 of circular 40/2021/TT-BTC: "Business is obliged to declare and pay tax based on revenue from the bill was released."
Business must make tax declaration based on the actual sales recorded via invoice. Provisions of the bill of this business requires business must declare the full revenue from the transaction to always comply with tax obligations. The declaration is not correct and/or omissions can lead to penalties from tax authorities.
- Business service in Nha Trang has released invoice with a total turnover is 300 million in a year. When the tax declaration, this must declare the full amount of revenue this tax reports, VAT, corporate INCOME tax, to ensure the correct term, right regulations.
9. Specified on the invoice of business
Article 9 of Decree 123/2020/ND-CP: "Business must produce the invoice immediately upon completion of the transaction sale of goods or provide services for customers."
Pussy, responsible business invoice right after completing the transaction with the customer. Invoice must be made in full, delivered to customers to transparency in business operations. The delay/no invoice can be sanctioned according to the provisions of the law.
- Business laundry service in Hue invoice to the customer as soon as finishing the laundry, re-assigned sex. This bill includes full information about the service, the number of clothing, the unit price, and total amount.
10. Specified use invoice created from computer money
Article 30, the Decree 123/2020/ND-CP and circular 78/2021/TT-BTC: "Business can use invoice created from the cash register connection with the tax authorities to issue an invoice when selling goods or providing services."
Business uses cash in connection with the tax authorities to issue an invoice to commit the bill was released, containing full information is updated on the system of tax authorities immediately. Provisions of the bill of this business help manage revenue, obviously, the tax authority can closely monitor the transaction of business. At the same time minimize the risk of using counterfeit bills/bills are not legal.
- Business mini supermarket at Vung tau, use currency calculator to issue an invoice for the customer. Each invoice data is automatically updated to the tax administration system of tax authorities, always transparent in the recognition of revenue.
Master the provisions of the bill is essential for every business to comply with law, protect the rights and simultaneously maintain the transparency in business operations. Hope that the information in the article have provided you with the knowledge necessary to implement the provisions of the bill of the business exactly. Thank you for taking the time track!
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