Effective from 1 July 2026, Decree No. 254/2026/ND-CP officially replaces Decree No. 123/2020/ND-CP and Decree No. 70/2025/ND-CP, introducing significant changes to the regulations on electronic invoices and electronic documents.
by KMC Consulting Company Limited
1. Official Regulation on Issuing Invoices for Deposits in 2026 under Decree No. 254/2026/ND-CP
Accordingly, the regulation on issuing invoices for deposits in 2026 is one of the notable new provisions introduced by Decree No. 254/2026/ND-CP. Specifically:
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Before 1 July 2026 |
From 1 July 2026 |
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Article 9. Time of Issuing Invoices ... 2. The time of issuing an invoice for the supply of services is the time when the provision of services is completed (including services provided to foreign organizations and individuals), regardless of whether payment has been received. Where the service provider collects payment before or during the provision of services, the invoice issuance time shall be the time of collection of payment (excluding deposits or advance payments collected to secure the performance of service contracts, including accounting, auditing, financial consulting; tax and valuation services; surveying and technical design; supervision consulting; and construction project design services). (Pursuant to Clause 2, Article 9 of Decree No. 123/2020/ND-CP, as amended by Point a, Clause 6, Article 1 of Decree No. 70/2025/ND-CP) |
Article 9. Time of Issuing Invoices ... 2. The time of issuing an invoice for the supply of services is the time when the provision of services is completed (including services provided to foreign organizations and individuals), regardless of whether payment has been received. Where the service provider collects payment before or during the provision of services, the invoice issuance time shall be the time of collection of payment (excluding deposits collected in accordance with the Civil Code to secure the execution of contracts for the provision of services). (Pursuant to Clause 2, Article 9 of Decree No. 254/2026/ND-CP) |
Accordingly, businesses are no longer required to issue an invoice upon receipt of a deposit, provided that the payment constitutes a deposit for securing the conclusion or performance of a service contract under the Civil Code.
For example, deposits received for hotel reservations, villa bookings, or tour packages will no longer require an invoice upon receipt, provided that such payments qualify as deposits under the Civil Code.
2. Definition of a deposit under the Civil Code
Pursuant to Article 328 of the 2015 Civil Code, a deposit is an arrangement whereby one party delivers to the other party a sum of money, precious metals, gemstones, or other valuable assets within a specified period as security for the conclusion or performance of a contract.
If the contract is concluded and performed, the deposited asset shall either be returned to the depositor or applied toward the payment obligation. If the depositor refuses to conclude or perform the contract, the deposit shall belong to the recipient. Conversely, if the recipient refuses to conclude or perform the contract, it must return the deposit together with an amount equivalent to the value of the deposit, unless otherwise agreed by the parties.
3. Time of invoice issuance for the sale of goods
Under Clause 1, Article 9 of Decree No. 254/2026/ND-CP:
- For the sale of goods (including transfers of public assets and sales of national reserve goods), an invoice must be issued at the time ownership or the right to use the goods is transferred to the purchaser, regardless of whether payment has been received.
- For exported goods (including goods processed for export), the seller may determine the issuance time of the electronic commercial invoice, electronic VAT invoice, or electronic sales invoice, provided that the invoice is issued no later than the next working day following customs clearance in accordance with customs regulations.
The Decree also provides detailed rules on invoice issuance timing for a number of other specific transactions under Article 9 of Decree No. 254/2026/ND-CP.
