Accounting & Financial Reporting

Yes. Under the Law on Accounting 2015 (No. 88/2015/QH13, Articles 50.2 and 53), every enterprise must appoint a Chief Accountant (or a Person in Charge of Accounting in the first 12 months) who holds a Chief Accountant training certificate and meets Article 54 standards, or hire an outsourced Chief Accountant service. The Chief Accountant is legally responsible for organizing accounting work and co-signing financial statements alongside the legal representative (Article 29).

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 or quarterly (depending on the filing period registered): VAT (by the 20th for monthly returns). Quarterly: PIT withholding returns, 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, audited financial statements to the Tax Authority (with the CIT finalization dossier), and annual investment-activity report to the Department of Finance / Statistics.

Non-compliance can result in administrative fines (under Decree 41/2018/ND-CP and current regulations) and tax reassessments.

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 companies with no business activity must still file zero-return VAT declarations (monthly or quarterly, depending on the filing period registered), annual financial statements, and CIT finalization. FDI companies must also submit quarterly Department of Finance (formerly DPI) reports. Failure to file can result in administrative penalties under current regulations.

For FDI companies, outsourced accounting typically ranges from $500 to $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.