Accounting & Financial Reporting

Yes. Under the Law on Accounting 2015 (No. 88/2015/QH13), every enterprise must appoint a Chief Accountant who holds a valid CPA certificate. This applies to all FDI enterprises regardless of size. The Chief Accountant is legally responsible for signing financial statements and tax returns.

Vietnam requires VAS-compliant accounting software that supports the standardized chart of accounts and Vietnamese-language invoices. International tools like QuickBooks or Xero alone are not sufficient. We work with MISA, Fast Accounting, and other MOF-approved platforms. If you use SAP or Oracle at group level, we maintain a parallel local ledger for statutory compliance.

Monthly: VAT and PIT withholding (by the 20th). Quarterly: CIT provisional payments (by the 30th of the month following the quarter) and Department of Finance (formerly DPI) investment reports. Annual: CIT finalization and PIT finalization (by March 31st), statutory audit, and audited financial statement submission to the Department of Finance.

Non-compliance can result in administrative fines (up to VND 50 million per violation under Decree 41/2018), tax reassessments, and in severe cases suspension of your Investment Registration Certificate (IRC). After 12 consecutive months of no reporting, the tax authority may revoke your tax code.

We prepare your statutory books under VAS for Vietnamese regulators, and provide an IFRS-VAS reconciliation bridge so your parent company can consolidate without discrepancies. Key differences include fair value recognition, revenue recognition standards, and chart of accounts structure.

January 1st to December 31st. Under specific conditions approved by the tax authority, companies may choose years ending March 31st, June 30th, or September 30th. FDI companies often align with their parent company's financial year — we handle the application process.

Yes. Even dormant companies must file monthly zero-return VAT declarations, annual financial statements, and CIT finalization. FDI companies must also submit quarterly Department of Finance (formerly DPI) reports. Failure to file can result in penalties and eventual tax code revocation.

For FDI companies, outsourced accounting typically ranges from $500–$2,000/month depending on transaction volume, number of employees, and complexity. This includes bookkeeping, tax filing, and Chief Accountant services. Contact us for a tailored quote based on your specific operations.