WHICH INVOICES AND DOCUMENTS ARE ALLOWED TO BE DESTROYED UNDER DECREE 70? WHAT IS THE RETENTION PERIOD OF ACCOUNTING INVOICES AND DOCUMENTS?

Which invoices and documents are allowed to be destroyed under Decree 70? What is the retention period of invoices and documents? How are the preservation and storage of invoices and documents regulated under Decree 123? Let’s find out more with Pham Consult!

Which invoices and documents are allowed to be destroyed?

Pursuant to Clause 11, Article 3 of Decree 123/2020/ND-CP, amended by Point c, Clause 2, Article 1 of Decree 70/2025/ND-CP, invoices and documents are allowed to be destroyed as follows:

Explanation of terms

In this Decree, the following terms are construed as follows:

11. Destruction of invoices and documents
12. a) Destruction of electronic invoices and documents is a measure to make electronic invoices and documents no longer exist on the information system, making it impossible to access and refer to the information contained in electronic invoices and documents.
13. b) Destruction of invoices printed by tax authorities, destruction of printed documents, self-printed documents is the use of measures such as burning, cutting, shredding or other forms of destruction, ensuring that the destroyed invoices and documents cannot reuse the information and data on them.

Invoices and documents that are allowed to be destroyed are invoices and documents that have expired the storage period as prescribed in Article 6 of this Decree.

12. An organization providing electronic invoice services is an organization providing solutions for initiating, connecting to receive, transmit, receive, store, and process data of electronic invoices and electronic documents. An organization providing electronic invoice services includes: Organizations providing electronic invoice solutions for sellers and buyers; organizations connecting to receive, transmit, and store electronic invoice data with tax authorities

Accordingly, invoices and documents that are allowed to be destroyed are invoices and documents that have expired the storage period.

How is the storage period of accounting invoices and documents regulated?

Pursuant to Article 41 of the 2015 Law on Accounting, the storage and preservation of accounting documents are as follows:

Storage and preservation of accounting documents

1. Accounting documents must be fully and safely preserved by the accounting unit during use and storage.
2. In case accounting documents are temporarily detained or confiscated, there must be a record attached with a copy of the accounting document; if accounting documents are lost or destroyed, there must be a record attached with a copy of the document or a confirmation.
3. Accounting documents must be archived within 12 months from the end of the annual accounting period or the end of accounting work.
4. The legal representative of the accounting unit is responsible for organizing the preservation and storage of accounting documents.
5. Accounting documents must be archived for the following periods:
6. a) At least 05 years for accounting documents used for management and operation of the accounting unit, including accounting documents not directly used to record accounting books and prepare financial statements;
7. b) At least 10 years for accounting documents directly used to record accounting books and prepare financial statements, accounting books and annual financial statements, except where otherwise provided by law;
8. c) Permanent archive for accounting documents of historical value, of important economic, security and national defense significance.
9. The Government shall specify each type of accounting document that must be archived, the archive period, the time for calculating the archive period specified in Clause 5 of this Article, the place of archive and the procedures for destroying archived accounting documents.

Accordingly, the storage period of invoices and documents is stipulated as follows:

– At least 05 years for accounting documents used for management and operation of accounting units, including accounting documents not directly used for recording accounting books and preparing financial statements;

– At least 10 years for accounting documents directly used for recording accounting books and preparing financial statements, accounting books and annual financial statements, except in cases where the law provides otherwise;

– Permanent storage for accounting documents of historical nature, of important economic, security and national defense significance.

How is the preservation and storage of invoices and documents regulated under Decree 123?

Pursuant to Article 6 of Decree 123/2020/ND-CP, it is stipulated as follows:

(1) Invoices and documents are preserved and stored to ensure:

– Safety, security, integrity, completeness, no changes or errors during the storage period

– Storing correctly and for the full period prescribed by accounting law.

(2) Electronic invoices and electronic documents are preserved and stored by electronic means. Agencies, organizations and individuals have the right to choose and apply the form of preservation and storage of electronic invoices and electronic documents in accordance with the specific characteristics of their operations and the ability to apply technology. Electronic invoices and electronic documents must be ready to be printed on paper or looked up upon request.

(3) Invoices printed by tax authorities, printed documents, and self-printed documents must be preserved and stored in accordance with the following requirements:

– Invoices and documents that have not been prepared must be stored and preserved in warehouses according to the storage and preservation regime for valuable documents.

– Invoices and documents prepared in accounting units must be stored according to the regulations on storage and preservation of accounting documents.

– Invoices and documents prepared in organizations, households, and individuals that are not accounting units must be stored and preserved as the private property of such organizations, households, and individuals.