The Draft Law on Tax Administration (amended) recently published for feedback by the Ministry of Finance proposes to allocate a yearly regular expenditure of 0.1% of the total domestic value-added tax (VAT) revenue from the previous year, which amounts to over VND 200 billion per year based on the current budget scale.
This expenditure will fund initiatives to encourage invoice retrieval, primarily through the “Lucky Invoice” program. Previously, the program was piloted with an annual budget of VND 11-12 billion, with quarterly drawings held in certain localities. With the proposed increase in funding to over VND 200 billion, the Ministry of Finance aims to expand the program nationwide, conduct drawings throughout the year, and raise the prize value from a few hundred thousand to tens of millions of VND.
What is a “Lucky Invoice”?
“Lucky Invoice” is a lottery program organized by the tax authority to encourage consumers to request electronic invoices when purchasing goods and services. Each electronic invoice with a tax code will automatically be recognized as a “lottery code.” Consumers don’t need to manually register; they only need to ask for an invoice when making a purchase.
Periodically, the tax authority will hold public drawings to select winning invoices. The prize structure varies, ranging from cash prizes worth a few hundred thousand to tens of millions of VND, depending on the budget for each period. As a result, people not only gain practical benefits but also contribute to enhancing transparency in tax administration and combating budget revenue losses.
With this new proposal, the “Lucky Invoice” program is expected to provide a significant boost to forming the habit of invoice retrieval among citizens and improving tax administration effectiveness in the context of the growing popularity of electronic transactions.
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