Accounting in Vietnam

Accounting in Vietnam is not as complicated as long as you know the legislation; however, most people choose to use the specialized services of our professional accountants in Vietnam.

Quick Facts
Tax registration support (YES/NO)	We provide tax registration services for companies in Vietnam.
VAT registration services (YES/NO)	Yes, our accountants in Vietnam offer VAT registration services to foreign and local companies.
Payroll and HR assistance (YES/NO)	We provide payroll manangement, HR, employment and other Labor Law related matters support.
Audit services (YES/NO)	Yes, we have auditors specialized in offering various types of audits in Vietnam.
Bookkeeping services (YES/NO)	Bookkeeping is one of the main services provided by our specialists.
Financial statement filing services (YES/NO)	Yes, we are at your service with timely filing services associated with financial statements and other accounting documents as requested by the law.
Accounting services for foreign companies in Vietnam (YES/NO)	Yes, our accountants are at the services of foreign companies operating through branches and subsidiaries in Vietnam.
Accreditted accountants availability (YES/NO)	Yes, our accountants are members of the Association of Certified Public Accountants in Vietnam.
Personal income tax rate	Personal income tax is levied at progressive rates ranging from 5% to 35%.
Corporate tax rate	The standard rate is levied at 20%, however, companies in the oil and gas sector are imposed the tax at rates ranging from 32% to 50%, while companies operating in the mineral resources extraction sector are taxed at rates from 40% to 50%.
VAT rate	The standard rate is 10%; there is also a reduced 5% rate available for certain foods and imported and exported goods.
Taxation of foreign employees	Foreign employees are subject to a flat tax of 20% for their employment income.
Access to double tax treaties (YES/NO)	Yes, Vietnam has approximately 80 double tax treaties.
Tax advice and planning services (YES/NO)	Yes, we are at the disposal of companies needing tax advice and planning solutions.
Other services	Our accountants in Vietnam also offer assistance in accessing various tax incentives and grants for companies, taliored accounting services for small enterprises.
Accounting services for sole traders (YES/NO)	Yes, our services address sole proprietorships in Vietnam.
Accounting services for SMEs (YES/NO)	Yes, we also offer support to small and medium-sized enterprises (SMEs).
Accounting periods	– monthly, – quarterly, – annually
Special taxes for foreign investors/companies  (if any)	– business license tax, – foreign contractor tax, – special consumption levy
Taxation of branches of foreign companies	Branches are subject to the same tax regime as domestic businesses.
Representation with tax authorities (YES/NO)	Yes, we offer local representation in Vietnam.
VAT registration threshold	None
Dividend tax rate	No withholding taxes apply resident and non-resident businesses.
Payroll tax rates	– employees pay 8% as social insurance charges, – companies pay 17.5% as social security premiums
Financial statement filing deadlines	March 30th of the current year for the past one
Applicable accounting standards	Local rules, however, starting with 2025 International Financial Reporting Standards will be implemented.
Tax authorities in Vietnam	General Tax Department, Ministry of Finance
Tax registration timeframe (approx.)	5 to 10 business days
VAT registration timeframe (approx.)	Approx. 10 days
Advantages of working with an accounting company in Vietnam	– access to various services; – customized accounting solutions; – tailored services based on company size, etc.

What types of clients do you provide accounting services to in Vietnam?

Our services are available for both companies and natural persons, no matter their nationality. With respect to businesses, we address both subsidiary and branch office owners in Vietnam, as these two types of entities are subject to different tax regulations.

What accounting services do you offer in Vietnam?

Here are some of the most often requested:

• tax and VAT registration for companies are some of the most solicited accounting services in Vietnam;
• bookkeeping and accounting services are also requested by business owners;
• payroll and HR services are complex tasks that can be handled by our accountants in Vietnam;
• tax consulting and planning solutions in order to make mid-term and long-term projections and to calculate investments are also in demand;
• audit services, as companies must respect various standards related to accounting in Vietnam;
• preparing and filing financial statements, including VAT returns for Vietnamese companies are also on the list of services provided by our specialists.

Here is an infographic on our accounting services:

Do you offer fiscal representation for tax and VAT registration in Vietnam?

Yes. This is one of our most requested services.

What bookkeeping services do you provide in Vietnam?

We handle:

• management of sales and purchase invoices;
• bank statement administration;
• inventory list creation;
• fixed asset list management.

We will compile the following documents related to bookkeeping and accounting in Vietnam:

• invoices;
• lists of accounts and ledgers;
• reports;
• accounting policies and procedures, etc.

Apart from the preparation of the accounting documents, we also offer the following services:

• input and output document verification in order to adhere to local and international accounting standards;
• classification of accounting records and documents;
• preparation of accounting books;
• handling tax filing and invoice registration;
• preparing tax reports and submitting them on time, such as monthly, quarterly, or yearly, to the tax authorities;
• handling the licensing tax.

What payroll services do you offer to companies in Vietnam?

• employer and employee registration;
• payslip issuance;
• salary calculation and payment (on request, we can also set up bank accounts for employees);
• social security insurance calculation, deduction, and payment;
• Overtime, leaves, bonuses, and other types of benefits calculation and payment.

NOTE: We can also manage the onboarding and offboarding of employees in the payroll system.

What types of audits do you perform in Vietnam?

We offer both statutory and financial audit services in accordance with the applicable standards.

Are your services available for Vietnamese sole traders?

Yes, we offer dedicated packages.

Do you offer industry-based accounting solutions in Vietnam?

Yes, we do. For example, if you want to open a Vietnamese business in tourism, you can rely on us for tailored accounting services.

Our accountants in Vietnam respect the principles that stand at the base of each business from the following points of view:

• operational industry, as different reporting and tax requirements may apply;
• foreign or locally-owned entity, given the fact that in the case of the former additional rules apply;
• size of the company, as our accounting firm in Vietnam can help sole traders, as well as large enterprises operating in this country.

Here is also a video on our services:

Do you offer tax consulting services in Vietnam?

Yes. Such services are usually available for first-time investors in Vietnam, and they are designed to help them choose legal forms that are consistent with their business plans and with the most favourable tax system. From this point of view, we also offer support in applying for various incentives, if applicable.

How do you charge for your accounting services in Vietnam?

We have packages if you are interested in recurrent accounting services.

We also charge by the hour if you need a one-time service.

For more information on accounting in Vietnam and our services, please contact us.

For foreigners planning to stay in this country for a long time, a residence permit is the ideal option. However, under specific conditions and with very few restrictions, foreigners may get permanent residency in Vietnam in accordance with Ordinance No. 24/2000. You can rely on our local specialists for support in obtaining a residence visa. Our lawyers can also help you start a company in Vietnam with no minimum share capital required for LLC.