A Major Shift in Household Business Management
Electronic invoicing is not a new concept, but for millions of small-scale household businesses accustomed to operating individually, the mandatory adoption by mid-2025 marks a significant shift in management mindset. This goes beyond simply “replacing paper with digital invoices”; it’s a comprehensive transition from manual bookkeeping to a digitized, transparent system interconnected with regulatory authorities.
At the talk show themed “Unblocking Challenges, Seizing Opportunities with Household Businesses”, organized by CafeF in collaboration with Ban Viet Commercial Joint Stock Bank (BVBank), Ms. Nguyen Thi Cuc, Senior Tax Expert and Chairwoman of the Vietnam Tax Consultancy Association, remarked: “According to Decree 70, from June 1st, household businesses with revenue exceeding 1 billion VND must use electronic invoices connected to tax authorities. This requires infrastructure such as internet, smartphones, or POS machines for issuing invoices and transmitting data, along with technological proficiency. While younger individuals find technology adoption easier, older generations face significant challenges.”
Ms. Nguyen Thi Cuc, Senior Tax Expert and Chairwoman of the Vietnam Tax Consultancy Association.
In reality, the lack of invoice documentation excludes household businesses from many major opportunities. Ms. Cuc analyzed: “Household businesses typically operate on a small scale and do not fully implement invoice documentation. For enterprises, input goods with value-added invoices allow customers to claim tax deductions, but without invoices, household businesses make it difficult for buyers to record expenses. This limits purchasing power and the ability to participate in large supply chains or export activities.”
Notably, the absence of invoice documentation also directly impacts bank loan accessibility due to transparency limitations. “Banks often hesitate to lend due to unclear revenue, addresses, or physical assets among household businesses,” added Ms. Cuc.
From a banking perspective, Mr. Dau Quang The, Member of the Executive Board and Director of the Individual Customer Division at BVBank, acknowledged: “Manual bookkeeping obscures revenue, expenses, and cash flow, both business and personal. This complicates financial capability demonstrations for banks, hindering capital access.”
Mr. Dau Quang The, Member of the Executive Board and Director of the Individual Customer Division at BVBank.
The demand for capital to expand operations, invest in machinery, or adopt technology is substantial, but without transparency, the cycle of “needing funds but unable to borrow” tightens further. This is the primary bottleneck that Decree 70 aims to resolve.
Banks Step In with Digital Solutions
Recognizing this trend, commercial banks have begun implementing support solutions for household businesses. One such initiative is BVBank’s comprehensive store management platform, Digistore. This solution not only facilitates sales but also integrates electronic invoice generation, direct tax authority connectivity, digital signatures, and flexible service packages based on invoice volume. Digistore’s strength lies in its “all-in-one” approach: managing revenue, expenses, issuing, storing invoices, and tracking statuses directly within the system.
BVBank offers exclusive benefits for the first 500 customers registering by November 30, 2025, including free electronic invoice setup, 12 months of free remote digital signatures, and 2,000 free electronic invoices. Additionally, customers receive cashback: 1 million VND for using Digistore, 900,000 VND for Paysound services, and 100,000 VND for transactions on the platform.
This digital solution is particularly valuable for sectors like F&B, retail, hospitality, and beauty, where high transaction volumes and transparent invoice management are essential. Beyond ensuring compliance with new regulations, tools like Digistore standardize operations, create clear databases for supply chain participation, enhance capital access, and boost customer credibility.
The practical implementation of electronic invoicing under Decree 70 not only imposes stricter transparency requirements but also opens opportunities for household businesses to professionalize, integrate deeper into formal supply chains, and access bank financing more smoothly.
Challenges related to costs, management habits, and technological skills are significant, but banks’ digital solutions will ease the transition. With Digistore, household businesses can comply with regulations while gradually standardizing operations, enhancing credibility, and improving competitiveness. Long-term, electronic invoicing is expected to become a vital foundation for the household business sector, which constitutes a substantial portion of the economy, to operate transparently and sustainably.
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