Time to issue a VAT invoice for service provision ?
Does the service provider issue a VAT invoice to the customer at the time of completing the service or at the time of collecting money from the customer ?
DMS Law office in Danang, Vietnam advise about time to issue a VAT invoice for service provision ?
The invoice date for a service is the date on which the service is completed, regardless of whether payment has been received or not. In case the service provider collects money before or during service provision, the date to issue invoice is the date of collecting money (Point a Clause 2 Article 16 of Circular No. 11/VBHN-BTC dated May 9, 2018).
However, from July 1, 2022, the Decree No. 123/2020/ND-CP dated October 19, 2020 takes effect, the time to issue invoices the date on which the service is completed, regardless of whether payment has been received or not. In case the service provider collects money before or during service provision, the invoice date is the date of collecting money, but excluding certain circumstances, such as: collecting a deposit or an advance to ensure the performance of contracts providing the following services: accounting, auditing, financial and tax consulting; valuation; survey, technical design; supervision consultancy; construction investment project formulation (Clause 2 Article 9 of the Decree No. 123/2020/ND-CP dated October 19, 2020)./.
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DMS LAW LLC
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Lawyer Do Minh Son
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