What is Decree 123? Regulations on fields and products?

What is Decree 123? Regulations on which fields and products?
What is Decree 123? Regulations on which fields and products?

Decree 123 is one of the important decrees that significantly impact current business activities, enterprises, companies, and organizations. Therefore, understanding this decree will help you conduct business activities in compliance with the law to achieve the best results.

Decree 123
Decree 123

What does Decree 123 regulate?

Currently, there are many different decrees built for each industry and field to ensure that activities comply with the law. For businesses and companies, understanding Decree No. 123 is essential. So, what does this decree regulate?

Decree 123 includes regulations related to document and invoice activities
Decree 123 includes regulations related to document and invoice activities

Accordingly, Decree 123 will regulate the management and use of invoices in activities related to service provision, sale of goods, and the use of documents when carrying out activities related to fees, taxes, and charges. Additionally, this decree also stipulates the rights, duties, and responsibilities of agencies, organizations, or individuals in the use, management, and utilization of documents and invoices.

In essence, this is an extremely important decree as it governs documents and invoices in business and trading activities. Nowadays, the market has numerous large businesses and companies, making this decree very significant and widely used.

How does Decree 123 apply to different entities?

Each decree is designed for specific entities. These entities are fully and accurately listed to ensure that activities comply with the law and achieve the best results. So, which entities does Decree No. 123 apply to? Specifically, the decree applies to the following entities:

  • Individuals and organizations that provide services and sell goods: Non-business organizations engaged in commercial activities, public service units with service and goods sales activities, individual and household businesses, cooperatives, trade unions, branches, and representative offices of enterprises
  • Individuals and organizations that purchase services and goods
  • Organizations responsible for collecting fees, taxes, and charges
  • Organizations responsible for withholding personal income tax
  • Individuals and organizations subject to fees, taxes, and charges
  • Entities involved in the use and management of documents and invoices
  • Customs authorities
  • Tax authorities
  • Units receiving invoice printing
  • Units providing self-printed document software
  • Entities providing electronic document and invoice services

These individuals and organizations will directly be affected by the decree. Therefore, if you or your business engages in business or trading activities, you need to thoroughly understand the decree to conduct compliant and risk-mitigated operations.

Sales and purchases of invoices and documents will be highly regulated
Sales and purchases of invoices and documents will be highly regulated

What actions are prohibited in Decree 123?

Decree 123 also includes provisions on actions prohibited in document and invoice activities. Businesses and individuals must understand these prohibited actions to conduct business activities in accordance with the law. Specifically, Decree 123 stipulates the following prohibited actions:

Organizations and individuals engaged in sales and service provision have specific provisions on prohibited actions. These are:

  • Offering bribes or engaging in dishonest acts related to documents and invoices
  • Unauthorized access to distort or destroy the document and invoice system
  • Obstructing tax officials or employees from performing their duties
  • Engaging in fraudulent activities in the use of documents and invoices
Activities related to invoices are often sensitive
Activities related to invoices are often sensitive

Regarding tax officials

Tax officials also have specific provisions on prohibited actions. These actions are defined in Decree 123 as follows:

  • Receiving bribes during the inspection and examination of documents and invoices
  • Concealing or colluding with organizations to use documents and invoices inappropriately
  • Engaging in disturbing or causing trouble to organizations and businesses in invoice transactions

Prohibited actions are clearly defined to establish standards for document and invoice-related work in compliance with the law. Therefore, all businesses and individuals involved in document and invoice activities should pay attention to and understand the regulations in Decree 123.

Violations of the prohibited actions will be dealt with according to the law. Therefore, all businesses and companies must have a clear understanding of the decree to conduct operations correctly and effectively.