Is ate report about the loss, burning or damage of unreleased invoices penalized?

For invoices not notified to be released or invoices purchased from tax authorities but not yet issued, late report about the loss, burning or damage of such invoices beyond the time limit will be penalized as follows pursuant to Article 25, Decree 125/2020/ND-CP of the Government:

1. The penalty shall be imposed in the form of caution for the act of reporting the loss, burning or damage of invoices from 1 to 5 days after expiry of the regulated time limit under any mitigating circumstance.

2. Fines ranging from VND 1,000,000 to VND 4,000,000 shall be imposed for the act of reporting the loss, burning or damage of invoices from 01 to 05 days after expiry of the regulated reporting time limit, except the case prescribed in clause 1 of this Article.

3. Fines ranging from VND 4,000,000 to VND 8,000,000 shall be imposed for one of the following violations:

a) Reporting the loss, burning or damage of invoices for a period of at least 6 days after expiry of the regulated reporting time limit;

b) Failing to report the loss, burning or damage of invoices.

As an established company in the field of tax and legal consulting, Vinasc hopes to adequately inform our customers to help them mitigate the risk during operation in Vietnam. Should there be any further concern, please contact Vinasc’s Customer Care department for timely support.