New provisions on invoices and supporting documents effective from June 1
The Government has issued Decree 70/2025/ND-CP, amending and supplementing Decree No. 123/2020/ND-CP on invoices and tax documents. Effective from June 1, the Decree introduces several notable updates:
- Expanding the scope of application to include overseas suppliers that do not have permanent presence in Vietnam but are engaged in e-commerce, digital platform-based business or other services in the country;
- Adding new definitions and clarifications related to invoices and tax documents;
- Allowing tax and charge receipts to be integrated directly into electronic invoices for buyers;
- Prohibiting the forgery of invoices and requiring the transmisson of data to tax authorities as required;
- Introducing several new rules on invoice usage, including electronic formats.
Standardized securities contracts replaced starting June 1
This is a content of the Ministry of Finance’s Circular 14/2025/TT-BTC, revising several provisions of Circular 119 of 2020 and Circular 58 of 2021 governing the registration, custody, clearing, and settlement of securities transactions, including derivatives.
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| A client's transactions at the head office of the Bao Viet Securities Company__Photo: VNA |
The new circular replaces Form 01 and 02 provided in the Appendix to Circular 58 with two new templates:
- Form 01: Clearing and settlement entrustment agreement between a non-clearing member and a general clearing member;
- Form 02: Account opening contract for derivative securities trading between a securities company and a client.
Dismissal added as a disciplinary measure for violations in administrative sanction enforcement
This provision is introduced in Decree 93/2025/ND-CP, effective from June 15, amending Decree 19/2020/ND-CP on inspection and disciplining of violations in the enforcement of administrative sanctions.
Accordingly, dismissal is formally added as a disciplinary measure for officials involved in breaches of administrative sanction enforcement. Dismissal may be applied in two scenarios:
- The official has already been demoted and reoffends;
- The official commits violation for the first time but the violation results in particularly serious consequences and falls into cases of failing to promptly amend, annul, or replace erroneous decisions, or failing to strictly comply with conclusions on examination of the implementation of the law on administrative handling.
Electronic reporting required for foreign investment activities in the securities market
According to the Ministry of Finance’s Circular 20/2025/TT-BTC, from June 20, foreign organizations and individuals involved in foreign investment in Vietnam’s securities market must submit electronic reports through the State Securities Commission’s (SSC) online system.
Reports must be retained electronically for at least five years. In cases of force majeure, paper dossiers accompanied by digital files are permitted, provided that the SSC is informed of the circumstances. Once the issue is resolved, electronic reporting must be completed.
This replaces the previous regulation, which permitted paper reports with accompanying digital files by default.
Foreign investors may open only one Vietnam-dong indirect investment account
From June 16, opening and use of Vietnamese-dong accounts for foreign indirect investment activities in Vietnam will comply with the State Bank of Vietnam’s Circular 03/2025/TT-NHNN.
Key provisions of the circular include:
- Foreign investors, both individuals and organizations, may only open one indirect investment account at a licensed bank, except in special cases. For example, foreign securities companies or investment funds may open additional accounts tied to the securities trading codes they are granted.
- Dossiers of application for account opening must be notarized or certified, and when necessary, translated into Vietnamese.
- These accounts are used exclusively for transactions related to indirect investment, such as proceeds from foreign-currency sales, capital transfers, dividend payments, investment-related expenses, foreign currency purchases, and fee settlements.- (VLLF)
