Petrol stations told to implement new payment regulations by March's end
Implementing the Prime Minister's directions, the MoIT said resources must be made available to ensure businesses make a smooth transition to allow cashless payments.
The Ministry of Industry and Trade (MoIT) sent an official dispatch to key traders and petroleum distributors on implementing regulations on electronic invoices and providing electronic invoice data according to regulations on Monday.
The ministry's document clearly states that in Resolution No 28 dated March 5 from the regular Government meeting in February, the Prime Minister assigned ministries, branches and localities to strengthen inspections and implement management and use of electronic invoices for petroleum business and retail activities in March.
The Prime Minister also assigned localities to coordinate with the Ministry of Finance and the MoIT to ensure appropriate measures are taken against businesses that do not implement the regulations by the end of this month.
They might be requested to temporarily suspend business operations or see business licenses and certificates revoked according to the provisions of law.
The MoIT recommends that petroleum traders seriously implement the following contents: comply with the provisions of law on petroleum trading; make electronic invoices for gasoline and oil retail and business activities, especially in making electronic invoices at gasoline retail stores for customers according to each sale at retail stores and provide electronic invoice data according to regulations.
Information from the Ministry of Finance previously released that the whole country had 7,542 petroleum retail stores that issued electronic invoices for each sale as of February 26.
Currently, there are about 17,000 petroleum retail stores nationwide. There are nearly 9,500 petrol stations across the country, accounting for 55.8 per cent, that need to soon issue electronic invoices for each sale. — VNS
