About 30% of Vietnamese businesses will be given an extra year to comply with new regulations for printing their own invoices.
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Around 100,000 businesses in Vietnam have less than 10 employees each |
New rules, which were supposed to take effect from January 1, require that businesses begin printing invoices instead of acquiring them from the General Department of Taxation.
About 100,000 businesses have been granted an extension to be allowed to continue buying their invoices from the tax department until the end of 2011.
These are businesses with less than 10 employees and those situated in remote or disadvantaged areas, according to Vu Thi Mai, Deputy Head of the General Department of Taxation.
The exemptions are meant to help businesses make necessary preparations for printing invoices on their own.
Tax authorities will work with these companies to make new printing arrangements starting in the second and third quarters of this year. It is hoped that these efforts will help to avoid a swarm of hasty, last minute activity which could overload printing facilities.