United Insurance Company of Vietnam (“UIC”) would like to extend our warmest greetings and thank you for trusting and choosing our insurance services.
According to Decree 70/2025/ND-CP (amending and supplementing some provisions of Decree 123/2020/ND-CP) effective from 1st June 2025, UIC respectfully informs you about the change in the time of issuing value added tax (“VAT”) invoice as follows:
The time of issuing value added “VAT” invoice for insurance business activities is the time of recording revenue according to Law on insurance business. Therefore, the VAT of a single premium payment insurance Policy/Contract (or the first instalment payment of Policy/Contract with multiple payment periods) will be issued at the time of the insurance contract takes effect instead of being able to issue invoice after the time the insurance contract takes effect or at the end of the month as before and invoice data will be submitted to the tax authorities no later than the next working day.
We look forward to receiving complete and timely relevant information for the issuance of VAT invoices (at the time of quote confirmation) to ensure your benefit as well as helping us comply with relevant regulations. Should you have any questions, please feel free to contact us for assistance.
We look forward to your cooperation. We are committed to consistently striving to provide the most professional in insurance services.
You can view or download the Notice by following the link: NOTICE
