VAT invoice can be issued for individuals are not? Process 3 STEP standard

With respect to transactions between businesses/individuals, the VAT invoice helps businesses accurately record revenue, protect the rights of buyers. Understand when and how VAT invoice can be issued for individual will build the reputation in the transaction. Let's Accnet read the article below to cover more knowledge about issues on!

1. VAT invoice can be issued for individuals are not? 

Yes, business is allowed VAT invoice can be issued for individual when providing goods/services. VAT invoice can be issued individual is mandatory in the case below to comply with the law, transparency in transactions, protect the rights of the seller/buyer:

• Transactions valued at from 200,000 vnd and above (According to Article 16, circular no. 39/2014/TT-BTC)
• When individuals ask invoice (According to Article 5, Decree 51/2010/ND-CP)

2. The export process, VAT invoice for personal, standard 

The VAT invoice can be issued for individual is a critical process, need to adhere strictly to the provisions of the law. Here are the specific steps:

Step 1: gather required information

• The provisions of Article 10, circular no. 39/2014/TT-BTC, the invoice must indicate the name and address of the purchase.
• If the buyer has tax code, need to write the full code of this on the invoice. Although the tax code is not required for individual recording tax code will be convenient for the latter procedure, such as tax declaration and tax refund.

• Should describe in detail the type of goods/services provided.
• The information such as quantity, unit price, total value must be recorded correctly in order to avoid confusion.
• Identify and record the VAT rates apply according to the provisions of Article 10, circular no. 39/2014/TT-BTC.

Step 2: Set up VAT invoice for personal 

• Follow Decree 119/2018/ND-CP and circular 68/2019/TT-BTC, businesses can use software electronic invoice to invoice. 
• If using paper bills, need to comply with the model bill has been the tax authority approval, printing regulations.
• Fill out the information in Steps 1 up bills before VAT invoice can be issued for individual

Step 3: release/VAT invoice can be issued for individual

• Follow Article 6, circular 68/2019/TT-BTCbill electronic must have digital signature of the seller, be sent to buyer via email/the other electronic media.
• Paper invoices should be hand signed, stamped (if available), delivered direct/mailed to the individual.

• According to the Decree 119/2018/ND-CP, circular 68/2019/TT-BTC, electronic invoice must be stored in minimum time is 10 years.
• The provisions of Article 11 of circular no. 39/2014/TT-BTC, paper invoice must also be stored for at least 10 years to serve for the examination and collation.

3. Any case of personal need VAT invoice?

Here is the situation-specific needs VAT invoice can be issued for individual:

Case	Legal regulation	For example
Individuals purchase goods and services with high value	Business sale of goods/provision of services valued from 200,000 or more for individuals, to invoice, including when the individual is not required - in Accordance with Article 16, circular no. 39/2014/TT-BTC Ensure that the business done right tax obligations and avoid the behavior of tax evasion	Individuals buy a electronic products (Computer, phone) Buy motorcycle Using the services of great value from business (Rent, infrastructure...)
Personal invoice requests TITS	Business must VAT invoice can be issued for individual when providing goods or services to the individual if the individual requires, whether the transaction value has under 200,000 - According to Article 5, Decree 51/2010/ND-CP Protect the rights of the individual in personal purposes, such as tax returns and tax refund.	Individual paid for services: dining, shopping...
The case VAT invoice can be issued for individual according to the requirements of the law	The case of selling goods, providing services that the law requires to have invoices, including dealing with individuals. (Learn more at Article 16, circular no. 39/2014/TT-BTC) Transactions can be controlled, access when needed	Transactions related to real estate Medical services, private Private education, v. v.,

4. The situation arises when a VAT invoice for personal

In process VAT invoice can be issued for individualthere may arise some situations unintended. Here are the common situations and how to handle specific regulations:

4.1. VAT invoice can be issued for individuals suffering from false information

Bills can be wrong buyer name, tax code, amount,... How to handle:

• Step 1: make a record deal with individuals to acknowledge flaws.
• Step 2: Get bills wrong information, new invoicing accurate.
• Step 3: Send new invoice for personal, stored memorandum of agreement on the same old bills.

According to Article 20, circular no. 39/2014/TT-BTC when the bill was set there are errors, enterprises need to destroy old bills, setting up new bills. If the bill was delivered to the buyer, the two parties need to establish a memorandum of agreement, specify errors and businesses to invoice instead.

4.2. Individuals do not receive a bill

VAT invoice for personal, is lost due to the wrong address, the technical error in the sending of electronic invoices:

• Step 1: Check the address or email of the buyer.
• Step 2: If the invoice is lost, businesses need to establish alternative bill and send it back to the individual.
• Step 3: For electronic invoice, send it back via email/the other electronic media; for paper bills, send back via the post office/delivery directly.

Follow Article 12, circular 32/2011/TT-BTC about bill electronic business has a responsibility to ensure invoice to the buyer. If the bill is not to be buyers, businesses need to take measures to handle fitting.

4.3. VAT invoice can be issued for individuals that require tax refund

The individual requesting the refund for the expenditures valid:

• Step 1: Individuals should submit a claim for tax refund, VAT invoice, the other relevant documents to the tax authority.
• Step 2: tax authorities will consider and resolve requests for tax refund according to the process state.
• Step 3: once approved, VAT charges will be refunded back to the individual through bank account/other forms as prescribed.

Follow The law on tax Administration no. 38/2019/QH14individuals can claim a VAT refund if the conditions under the law is satisfied, as in the case of exports of goods, purchase goods in the tariff, or the case is state specific rules.

Mastering the rules of VAT invoice can be issued for individual help create a business environment, transparency, protect the rights of the buyer/seller. Hope that through this article, you had to add the necessary knowledge to perform the export VAT invoice accuracy and efficiency.

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