Accounting and bookkeeping in Vietnam — 2026 guide for foreign-invested companies

MSA Asia handles Vietnam accounting and bookkeeping end to end for foreign-invested companies. We maintain your books under Vietnamese Accounting Standards (VAS), file monthly and quarterly VAT and tax returns, issue and store e-invoices on approved government platforms, and prepare the audited annual financial statements every FDI enterprise must submit.

Vietnam accounting and bookkeeping services: monthly, quarterly, and annual compliance

MSA Asia handles Vietnam accounting and bookkeeping end to end for foreign-invested companies. We prepare monthly and quarterly VAT and tax filings, maintain your books under Vietnamese Accounting Standards (VAS), issue and store e-invoices on government-approved platforms, and deliver the audited annual financial statements every FDI enterprise must file.

Beyond routine bookkeeping, we handle the parts that create risk if missed: appointing a licensed Chief Accountant, a legal requirement for every FDI company, reconciling VAS books against your parent company's IFRS reporting, and managing the corporate income tax (CIT) finalization and independent audit due within three months of your fiscal year end.

The rest of this guide walks through service tiers, the step by step setup process, tax jurisdiction after the 2025 merger, required documents, VAS versus IFRS, realistic costs and timelines, and the pitfalls that most often trip up foreign-owned companies.

The four service tiers: choose the right level of support

Vietnam accounting needs scale with your company's size and reporting obligations, and picking the wrong tier either wastes budget or leaves you exposed at audit time. Here's how they differ.

Basic bookkeeping: the default

For most small and mid-sized FDI companies, basic bookkeeping covers monthly VAT filing, PIT withholding on payroll, and maintaining the VAS general ledger. It is the minimum every foreign-owned company needs to stay compliant, and typically runs from around USD 85 per month for straightforward, low-volume entities.

Full accounting & tax compliance

Full-service accounting adds quarterly CIT provisional filings, annual finalization, e-invoicing management, and preparation of statutory financial statements ahead of the independent audit. This is the standard tier for operating companies with revenue, inventory, or payroll beyond a handful of staff, and typically runs from USD 250 to 800 per month depending on transaction volume.

Chief Accountant service

Vietnamese law requires every FDI enterprise to appoint a licensed Chief Accountant, a role most foreign investors outsource rather than hire directly. The Chief Accountant signs off on financial statements and bears personal responsibility for their accuracy, so this service is usually bundled with full accounting rather than sold on its own.

IFRS/VAS dual reporting & CFO advisory

Companies that report to an overseas parent under IFRS need dual reporting: VAS books for Vietnamese statutory purposes and a reconciled IFRS pack for group consolidation. This tier adds management reporting, budget-to-actual analysis, and CFO-level advisory, and suits larger subsidiaries or regional headquarters.

Quick comparison

Service Tier	Description	Advantages	Disadvantages
Basic bookkeeping	Monthly VAT, PIT withholding, and general ledger under VAS	Lowest cost, minimum compliance covered	No CIT finalization or audit preparation included
Full accounting & tax compliance	Adds CIT, e-invoicing, and statutory financial statements	Audit-ready books, single point of accountability	Higher monthly retainer
Chief Accountant service	Licensed signatory required by law	Removes personal liability from founders	Usually bundled, not offered standalone
IFRS/VAS dual reporting & CFO advisory	Parallel VAS and IFRS books plus management reporting	Group-ready consolidation, CFO-level insight	Highest cost tier

Step by step Vietnam accounting setup and compliance process

Once your entity is registered, the accounting function needs to be running before your first invoice goes out. Here is the realistic sequence for a newly incorporated foreign-owned company.

1. Appoint a licensed Chief Accountant. This is a legal requirement for every FDI enterprise; most foreign investors outsource this role rather than hire in-house from day one.
2. Set up your chart of accounts. Register your accounting software and general ledger under Circular 200's chart of accounts, mapped to Vietnamese Accounting Standards.
3. Register for e-invoicing. E-invoices must be issued, transmitted, and stored on a government-approved platform under Decree 123/2020 before you issue your first sales invoice.
4. Set up monthly VAT filing. Most newly incorporated companies start on monthly VAT filing status, due by the 20th of the following month.
5. Set up payroll and PIT withholding. Register employees for personal income tax withholding and social insurance contributions before your first payroll run.
6. File quarterly CIT provisional payments. Due by the 30th of the month following each quarter; the four quarterly payments together must total at least 80% of your final CIT liability.
7. Prepare year-end financial statements under VAS. Statutory financial statements must be prepared under Vietnamese Accounting Standards within 90 days of fiscal year end, regardless of your parent company's reporting framework.
8. Engage an independent auditor. All FDI enterprises must have their annual financial statements audited by an independent, licensed audit firm before the CIT finalization deadline.
9. File CIT and PIT finalization. CIT finalization is due by the last day of the third month after fiscal year end; PIT finalization on behalf of employees is due by the last day of March. These are the two deadlines that carry the largest penalties if missed.

A newly incorporated company typically has its accounting function fully operational, Chief Accountant appointed, e-invoicing live, and payroll running, within 4 to 6 weeks of receiving its Enterprise Registration Certificate.

Where you report: Vietnam tax jurisdictions after the 2025 merger

Vietnam's 2025 provincial merger consolidated tax administration alongside general administrative boundaries, and which tax department you report to now depends on your registered office's post-merger province.

Location	Best for	Notes
Ho Chi Minh City	Trading, consulting, manufacturing, regional HQs	Vietnam's largest tax authority by filing volume and MSA Asia's headquarters location
Hanoi	Technology, government-facing business, manufacturing	Political and administrative centre, strong e-invoicing infrastructure
Da Nang	Tourism, technology, logistics	Growing tech and BPO hub on the central coast
Industrial zones (nationwide)	Manufacturing, export-oriented production	Dedicated tax and customs liaison desks inside designated zones, terms vary by zone

Required documents for Vietnam accounting and bookkeeping

Documentation requirements vary depending on whether you're onboarding a newly incorporated company or transferring accounting from an existing provider.

For the accounting records you'll need to provide:

• Opening balances or prior-period financial statements, where the company is not brand new
• Chief Accountant appointment decision or service agreement
• Chart of accounts mapping, if migrating from another system
• Bank account details and specimen signatures

For the Chief Accountant and signatory:

• Copy of the Chief Accountant's qualification or practicing certificate
• Appointment decision, labor contract, or service agreement confirming the role

Documents prepared during onboarding:

• E-invoicing registration dossier submitted to the tax authority
• VAT registration confirmation and tax code activation
• Digital signature or token for online tax filing
• Prior-period tax filings and audit reports, in the case of a mid-year handover

VAS, IFRS, and the chart of accounts under Circular 200

Every foreign-invested enterprise must prepare its statutory financial statements under Vietnamese Accounting Standards (VAS), regardless of whether the parent company reports under IFRS or another framework. Circular No. 99/2025/TT, effective from 1 January 2026, sets out updated core accounting principles and detailed guidance applicable across industries, strengthening consistency in financial reporting.

Vietnam has signalled an eventual move toward IFRS convergence, but as of 2026 the Ministry of Finance has not announced a firm convergence timeline, so wholly foreign-owned enterprises continue to face dual VAS-IFRS reporting where group consolidation is required. Your chart of accounts is set under Circular 200, and reconciling it to your parent company's IFRS chart is usually the single biggest recurring task for finance teams reporting into an overseas head office.

Costs and timeline at a glance

The cost stack for a typical foreign-invested company's accounting function:

1. Basic bookkeeping: from around USD 85 per month for low-volume entities.
2. Full accounting and tax compliance: typically USD 250 to 800 per month depending on transaction volume and payroll size.
3. Chief Accountant service: usually bundled into the full accounting retainer rather than priced separately.
4. Annual independent audit: typically USD 1,000 to 3,000 depending on company size and complexity.
5. E-invoicing platform and digital signature: modest annual platform fees, typically under USD 150 per year combined.
6. CIT and PIT finalization support: often included in the annual retainer, otherwise billed as a year-end project fee.

Note that document retention obligations run for 5, 10, or an indefinite period depending on the record type, with accounting books, financial statements, and audit reports subject to a 10-year retention requirement.

Budget for these costs from incorporation, not after your first VAT deadline; the 20th-of-month filing cadence starts as soon as your tax code is active, whether or not your accounting function is ready.

Common Vietnam accounting and compliance pitfalls (and how MSA Asia helps)

A handful of issues account for most of the compliance problems we see on Vietnam accounting engagements.

Delaying the Chief Accountant appointment. Some founders treat this as optional in the early months. It is a legal requirement from incorporation, and operating without one exposes the company and its legal representative to penalties.

Missing the e-invoicing registration step. Issuing invoices before registering on a government-approved e-invoicing platform is a compliance breach that is easy to avoid with proper onboarding sequencing.

Treating VAS and IFRS as interchangeable. Parent companies sometimes assume the local books can simply be exported into IFRS format. In practice, VAS and IFRS diverge enough on revenue recognition and asset valuation that proper reconciliation, not just translation, is required.

Underestimating the 90-day CIT finalization deadline. Companies that leave annual finalization and the independent audit until the last month often can't secure an auditor in time, since audit firms get booked solid in the weeks before the deadline.

Missing quarterly CIT provisional payments. Falling short of the 80% cumulative threshold across the four quarters can trigger late-payment interest even after the annual finalization is filed correctly.

Poor document retention practices. Accounting records carry a 10-year retention requirement, and companies that don't plan storage from day one often struggle to reconstruct records during a tax audit years later.

Switching accounting providers mid-year without a clean handover. Incomplete opening balances or missing prior-period filings from an outgoing provider is one of the most common causes of onboarding delays we see.

Why foreign companies choose MSA Asia for Vietnam accounting

MSA Asia is a Vietnam and Asia-Pacific business consultancy with a Ho Chi Minh City headquarters and a track record supporting international businesses across accounting, tax, payroll, and market entry. What a typical end-to-end engagement covers:

• Bookkeeping and VAS compliance: monthly VAT, PIT withholding, and general ledger maintenance
• Chief Accountant service: licensed signatory included, removing personal liability from founders
• E-invoicing management: registration, issuance, and storage on approved platforms
• CIT and PIT finalization: quarterly provisional filings and annual finalization
• Independent audit coordination: liaison with licensed audit firms ahead of statutory deadlines
• IFRS reconciliation: dual reporting support for companies consolidating into an overseas parent

Vietnam accounting vs other APAC markets

Vietnam's accounting compliance calendar is broadly comparable to other Southeast Asian markets in cadence, monthly or quarterly VAT, annual CIT finalization, mandatory annual audit, but the mandatory Chief Accountant requirement and the dual VAS-IFRS reporting burden for wholly foreign-owned enterprises are distinctly Vietnamese features that catch first-time investors off guard. Compared with Singapore, Vietnam's compliance calendar is more demanding month to month but lower cost overall; compared with China, the filing cadence is similar but Vietnam's e-invoicing platform requirements are newer and still evolving.

For most foreign companies already registered in Vietnam, the question is less about whether to outsource accounting, and more about which service tier matches their transaction volume and reporting obligations to their parent company.

Key takeaways

Five things to lock in before your first Vietnam accounting filing is due:

1. Chief Accountant. Appoint one immediately, whether outsourced or in-house; this is a legal requirement, not a nice-to-have.
2. E-invoicing. Register on an approved platform before issuing your first sales invoice.
3. Filing cadence. Monthly VAT (20th of the following month), quarterly CIT provisional payments, and annual CIT and PIT finalization are the deadlines that carry the largest penalties.
4. VAS vs IFRS. Statutory books must be under VAS regardless of your parent's framework; plan reconciliation as an ongoing task, not a year-end scramble.
5. Retention. Accounting records carry a 10-year retention requirement; build storage into your process from day one.

Vietnam accounting: terminology, agents, and what foreign investors actually need

Foreign investors arrive at this topic through many different search terms: Vietnam accounting services, Vietnam bookkeeping, outsourced accounting Vietnam, or simply how to do accounting for a foreign company in Vietnam. They are all asking the same operational question: how to stay compliant with VAS, e-invoicing, and tax filing without hiring a full in-house finance team.

Whether you call it Vietnam accounting services, Vietnam bookkeeping, or outsourced Vietnam accounting, the underlying compliance obligations are the same. To keep a foreign-invested company compliant in Vietnam, you must:

1. appoint a licensed Chief Accountant,
2. maintain your general ledger under Vietnamese Accounting Standards,
3. register for and issue e-invoices on an approved platform,
4. file monthly VAT and quarterly CIT provisional payments,
5. complete annual CIT and PIT finalization backed by an independent audit.

Working with an accounting agent in Vietnam

Most foreign-invested companies do not run accounting in-house from day one; they retain an outsourced provider who supplies the Chief Accountant, manages e-invoicing and VAT filings, and coordinates the annual audit. MSA Asia provides full Vietnam accounting and bookkeeping services from monthly compliance through to annual finalization.

2026 specifics: Circular 99, e-invoicing enforcement, and IFRS convergence

What is worth knowing in 2026: Circular No. 99/2025/TT took effect on 1 January 2026 and applies to fiscal year 2026 onward, updating core accounting principles and industry-specific guidance; e-invoicing enforcement has tightened following the 2025 rollout of expanded platform requirements; and the Ministry of Finance has not yet set a firm timeline for VAS-IFRS convergence, meaning wholly foreign-owned enterprises should continue planning for dual reporting for the foreseeable future.

Frequently asked questions about Vietnam accounting

Do foreign-invested companies in Vietnam need to follow VAS or can they use IFRS?

Foreign-invested enterprises must prepare statutory financial statements under Vietnamese Accounting Standards (VAS), regardless of whether the parent company reports under IFRS. Companies consolidating into an overseas parent typically maintain a reconciled IFRS pack alongside their VAS books.

Is an annual audit mandatory for foreign-owned companies in Vietnam?

Yes. All foreign-invested enterprises must have their annual financial statements audited by an independent, licensed audit firm, and the audited statements are required as part of the CIT finalization filing.

What is a Chief Accountant and why is one required?

A Chief Accountant is a licensed signatory legally required for every foreign-invested enterprise in Vietnam. They sign off on financial statements and bear personal responsibility for their accuracy; most foreign investors outsource this role rather than hire one directly.

How often do I need to file VAT in Vietnam?

Most newly incorporated companies file VAT monthly, due by the 20th of the following month. Some smaller companies qualify for quarterly filing instead.

When is the CIT finalization deadline in Vietnam?

The annual CIT finalization return and audited financial statements are due no later than the last day of the third month after your fiscal year end.

What changed with Vietnamese accounting rules in 2026?

Circular No. 99/2025/TT took effect on 1 January 2026, updating core accounting principles and industry-specific guidance applicable to fiscal year 2026 onward.

How much does outsourced accounting cost in Vietnam?

Basic bookkeeping starts from around USD 85 per month, while full accounting and tax compliance typically runs USD 250 to 800 per month depending on transaction volume and payroll size.

How long do we need to keep accounting records in Vietnam?

Accounting books, financial statements, and independent audit reports carry a 10-year retention requirement, while general operational documentation is generally retained for 5 years.

Do we need e-invoicing from day one?

Yes. E-invoices must be issued, transmitted, and stored on a government-approved platform before you issue your first sales invoice; retrofitting e-invoicing after the fact is a compliance breach.