Businesses worry over invoice printing backlog

Thousands of Vietnamese enterprises are waiting for invoices from printing houses while the deadline for issuing self-printed invoices nears.

Under the Ministry of Finance’s regulations, after March 31, local businesses will be responsible for producing their own invoices instead of acquiring them from tax agencies.

However, due to a large volume of orders, many printing houses are saying that they cannot meet the demand by March 31. Meanwhile, tax agencies said that they will not sell invoices to companies during the period these companies wait for the invoices from the printing houses.

Mr T.Q.V., an accountant from Petrolimex Joint Stock Insurance Co.’s Binh Thuan Branch, said his firm made a large order from Lien Son Co. Ltd. in late 2010. They have only received a small portion of their order.

He has come to Ho Chi Minh City-based Lien Son Co. Ltd. seven times to ask about the status of their order, but he walks away only with promises, as the deadline nears.

Ms T., an accountant from an asphalt supply company, said her company ordered invoices from the Finance Printing Company’s Ho Chi Minh City Branch, in mid-December but, to date, they have not received any firm date for the delivery of their order, even though the printing company had said they would have them by late January.

“Every day, customers come to my company and complain about late invoices, causing big losses for us,” T shared.

Finally, she had to go to a tax agency to buy invoices. She is considering lodging a complaint against the printing house.

Many companies decided to cancel contracts with Lien So. Co. Ltd. in search for another printing house despite their higher fees, so that they could ensure getting their orders on time.

Recognising the demand of such companies, the Finance Printing Company’s Ho Chi Minh City Branch has already opened a quick service which can complete the invoice printing for 4-5 hours. However, this service comes at a higher price.

Recently, the Ho Chi Minh City Printing Association has proposed that the General Department of Taxation and Ho Chi Minh City Taxation Department allow companies who face problems and delays in their invoice orders to continue buying invoices through the second quarter of this year.

The printing houses explain that the invoice printing backlog is simply due to demand that is higher than their capacity. Many printing companies also face labour shortage after Tet. – Dtinews

Tags: Vietnam invoice law