93 per cent of HCM City enterprises use tax e-invoice

Wednesday, Apr 22, 2020 13:53

Using electronic invoices helps businesses complete tax transactions quickly and easily, experts said. VNS Photo Internet

The number of firms in HCM City using e-invoices has skyrocketed this year due to their convenience and low cost.

They now number over 195,000, 2.5 times the number at the end of last year and accounting for 93 per cent of all enterprises, according to the Tax Department.

Besides, the rate of businesses filing their tax returns online has risen to nearly 100 per cent.

Besides urging businesses to use e-invoices, the department also assists businesses with adopting IT and online transactions, making the processes fast and smooth.

Experts said e-invoices help businesses significantly cut costs and speed up transactions, but many small and medium-sized enterprises still need convincing to make the switch, and so more effort is needed to raise awareness.

The department has said it will regularly update policies on its website to support start-ups with information about invoices, methods of VAT declaration, e-invoices, policies, regulations, and incentives to support small and medium-sized enterprises. – VNS

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