Issue electronic invoices when exporting goods abroad, export processing zones. Regulations on export invoices, time of issuing export invoices… according to Decree 123.
Are you a business that is trading and exchanging goods in the form of exporting abroad or exporting to export processing zones? Are you wondering what to pay attention to when exporting goods abroad according to Decree 123/2020/ND-CP and Circular 78/2021/TT-BCT recently issued? Online Accounting will help you better understand this regulation through the article below.
I. Regulations on invoices in customs dossiers for exported goods
Regulations on invoices in customs dossiers for exported goods according to Official Dispatch No.: 2054/TCHQ-GSQL.
– First, we know that according to Article 24 of the Customs Law, customs documents for exported goods must include:
- Sales Contract;
- Commercial Invoice;
- Packing list;
- Bill of lading;
- Customs Declaration.
Thus, previously, customs documents for exported goods did not require the issuance of additional electronic invoices.
– However, from July 1, 2022, Decree No. 123/2020/ND-CP dated October 19, 2020 takes effect, enterprises need to pay attention: “When exporting goods and services abroad, exporting to duty-free zones, electronic invoices will be issued” and in cases where according to international trade practices, enterprises need to use commercial invoices, the Tax authority will not manage.
➥ Thus, Decree 123/2020/ND-CP and Circular 78/2021/TT-BCT have added regulations on mandatory issuance of electronic invoices when exporting goods.
Note :
– Enterprises that declare and calculate VAT according to the deduction method will be allowed to use VAT invoices (form as prescribed in Article 4 of Circular 78/2021/TT-BTC).
– For businesses that declare and calculate taxes according to the direct method (direct VAT calculation), they will be able to use sales invoices (form as prescribed in Article 4 of Circular 78/2021/TT-BTC).
– For enterprises located in non-tariff zones, use sales invoices and clearly state “For organizations and individuals in non-tariff zones” (According to the provisions of Article 4 of Circular 78/2021/TT-BTC).
➥ Conclusion: At the time of customs procedures, customs authorities only use commercial invoices to carry out customs procedures. On the enterprise side, the enterprise will determine the time to complete customs procedures to proceed with the preparation and issuance of export invoices according to regulations.
>> See more: Regulations on export tax.
II. Time of issuing export invoices according to Decree 123/2020/ND-CP
Pursuant to Point c Clause 3 Article 13 Decree No. 123/2020/ND-CP on issuing VAT invoices for exported goods:
“c) Business establishments that declare and pay value added tax on exported goods and services (including establishments that process exported goods) use electronic VAT invoices when exporting goods and services. When exporting goods for transportation to the border gate or to the place where export procedures are carried out, the establishment uses the Warehouse Delivery and Internal Transport Note as prescribed as a document for goods circulation on the market. After completing the procedures for exported goods, the establishment issues a VAT invoice for the exported goods.”
➥ Thus, the time to issue an export invoice according to Decree No. 123/2020/ND-CP is the time when all customs procedures are completed (ie the date of customs clearance confirmation). Based on the date of issuance of the export invoice, the enterprise records export revenue.
III. Regulations on currency stated on export invoices (according to Clause c, Article 10, Decree 123/2020/ND-CP)
When issuing an export invoice, what exchange rate is written on the invoice? And how is it written?
Pursuant to Point c Clause 13, Article 10, the currency stated on the invoice is Vietnamese Dong, the national symbol is “đ”.
– In case economic and financial transactions arise in foreign currency according to the provisions of the law on foreign exchange, the unit price, total amount, total VAT amount according to each tax rate, total VAT amount, total payment amount are recorded in foreign currency, the currency unit records the name of the foreign currency. At the same time, the exchange rate shown on the invoice is the foreign currency exchange rate compared to Vietnamese Dong according to the provisions of the Law on Tax Administration and its implementing documents.
– The exchange rate recorded on the invoice is recorded according to the actual transaction exchange rate – the buying exchange rate of the Bank where the taxpayer opens an account.
For example : Company fdiinvietnam.com completed customs procedures to export 500 bonsai pots, unit price 20 USD/pot on August 20, 2022. The exchange rate at Vietcombank on August 20, 2022 is 23,265 VND.
Export invoice image
IV. Some questions related to export invoices
1. Do we need to issue a VAT invoice when exporting software services? And when?
Yes.
The time of invoice issuance for service provision is the time of completion of service provision, regardless of whether the payment has been collected or not. In case the service provider has collected payment in advance or during service provision, the time of invoice issuance is the time of collection (excluding deposit or advance payment, etc.).
2. Can export invoices be in a foreign language?
Yes.
In case the enterprise needs to write foreign words on the invoice, the foreign words are placed on the right and in parentheses () or right below the Vietnamese words with a smaller font size than the Vietnamese words.
3. Enterprise A is exporting goods to a duty-free zone. It is known that the enterprise declares according to the deduction method and the declaration period is quarterly. The goods are exported to the port on June 28, 2022, but customs procedures are not completed until July 5, 2022. So how do we declare?
The time to declare export invoices and invoices for export to the duty-free zone is the time when customs procedures are completed (ie the date of customs clearance confirmation). Thus, the enterprise will declare this shipment in the July 2022 declaration. That is, the third quarter of 2022, in case of quarterly declaration.