If you need accounting services, our CPAs in Vietnam are at your disposal. Discover below how we can help you.
| Quick Facts | |
|---|---|
| Definition of a CPA in Vietnam | CPA in Vietnam stands for “Chứng chỉ Kế toán viên Chính quy” which translates to Certified Public Accountant |
Activities of a CPA | In Vietnam, a CPA is expected to keep financial records, prepare financial statements, and ensure financial transactions are accurately documented |
Law regulating accounting procedures in Vietnam | Law on Accounting No. 88/2015/QH13, which took effect on January 1, 2016 |
| The main regulator of accounting procedures | Ministry of Finance (MOF) |
| Accounting Principles in Vietnam | The Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS) |
| Audit law in Vietnam | Law on Independent Audit No. 67/2014/QH13 |
| Thresholds for audit in Vietnam | The audit threshold in Vietnam is VND 50 billion (approximately USD 2.2 million) for a company’s total assets, revenue, and contributed capital |
| Education requirements for a CPA in Vietnam | Individuals with a degree in accounting or a related field, like finance or business administration |
| Certification of Vietnam CPA required (yes/no) | Yes, obtain professional certification, such as the Certified Public Accountant (CPA) credential, which is recognized in Vietnam |
| Institution to issue certifications | In Vietnam, the institution responsible for issuing CPA certificates is the Ministry of Finance |
| Main criteria for corporate reporting in Vietnam | Compliance with Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS) |
| The financial year in Vietnam | From 1 January to 31 December |
| Reporting periods in Vietnam | In Vietnam, you can choose from four fiscal year periods if you run a foreign entity: January 1 to December 31, April 1 to March 31, July 1 to June 30, October 1 to September 30 |
| Main financial reports and documents required in Vietnam | Profit and loss statement, balance sheet, cash-flow statement, tax return, and aging reports, etc |
| Entities that should use the services of a CPA | Individuals or businesses who require professional accounting, auditing, tax consulting, or financial advisory services |
| Tax registration support (YES/NO) | Yes, this is one of our standard accounting services in Vietnam. |
VAT registration services (YES/NO) | Yes, we also offer VAT registration services in Vietnam. |
Payroll and HR assistance (YES/NO) | Yes, our accountants are at your disposal with payroll and HR solutions. |
| Employee/employer registration services (YES/NO) | Yes. |
| Representation with the tax authorities (YES/NO) | Yes, our accountants can act as representatives with local tax departments. |
| Audit services (YES/NO) | Yes, you can rely on our specialists for various types of audit services. |
| Financial statement filing services (YES/NO) | Yes. |
| Financial statement filing deadline | 30 to 90 days from the end of the financial year, depending on the type of company. |
| Industry-based accounting services for Vietnamese companies (YES/NO) | Yes, our CPAs in Vietnam offer industry-based accounting services. |
| Support for foreign companies (YES/NO) | Yes, we are at the service of foreign companies with operations in Vietnam. |
| Tax compliance services for expats (YES/NO) | Yes, we can also assist foreign citizens living and paying taxes in Vietnam. |
| Forensic accounting services availability (YES/NO) | Yes, our Vietnamese CPAs can offer forensic accounting services. |
| Applicable accounting standards | Vietnamese Accounting Standards (VAS) |
| Tax authorities in Vietnam | The General Department of Taxation. |
| Why work with our accountants in Vietnam | – access to accredited accountants, – tailored accounting packages, – support for all types of companies, – high degree of professionalism. |
Table of Contents
What is a CPA?
CPA stands for Certified Public Accountant – an accountant who becomes a licensed professional after completing extensive education in the financial field, at the end of which he or she passes a CPA exam.
What services does your CPA in Vietnam offer?
Here are the accounting services we provide in Vietnam through our CPA:
- accounts payable and receivable services;
- tax and VAT registration;
- tax consulting and planning services;
- audit services, as a Vietnamese CPA can also offer such solutions, not only auditors;
- preparing and filing financial statements.
Apart from these, you can also rely on us for regular bookkeeping and accounting services in Vietnam. Our CPA can also ensure accurate payrollif you hire employees in Vietnam.
By offering online and cloud accounting services, our certified management accountants can help small and large firms keep up with the latest information on digital services while also minimizing the price of cutting-edge technical solutions.
Does your CPA offer fiscal representation in Vietnam?
Yes, as a CPA is authorized to represent clients before the Vietnamese authorities. So, this is a very useful service for our foreign clients.
What are the bookkeeping services your CPA offers?
Our accountants handle:
- sales and purchase invoices;
- bank statements;
- inventory and fixed asset lists;
- accounting ledgers and reports.
Apart from these, our CPA can verify bookkeeping documents and make sure they are created in accordance with local and international accounting standards.
What types of audits can your Vietnamese CPA perform?
Both statutory (mandatory) and financial audits.
Can your CPA in Vietnam submit financial statements for my company?
Yes, by respecting the filing calendar, which is different for VAT and corporate tax filings.
Do you also offer accounting services to foreign-owned companies in Vietnam?
Yes, we do. This is a special category of enterprises that requires more attention from a fiscal point of view, which is why it is recommended to work with a CPA in Vietnam from the start.
Here is also a video on this subject:
What are the accounting services available for foreign enterprises in Vietnam?
Foreign-owned enterprises must submit audited financial statements, so our CPA can perform the audit and then draft the report. These companies must also submit an investment report, which can be prepared by our CPA.
What accounting rules must Vietnamese businesses adhere to?
Every month, every quarter, or once a year, businesses that are subject to the Accounting Law are required to compile their accounting records according to the accounting period described below:
- Period of yearly accounting: The calendar year is used for yearly accounting (from January 1st to December 31st);
- Period of quarterly accounting: three months (from the 1st of the first month of the quarter to the last day of the last month of the quarter);
- Period of monthly accounting: one month (from the 1st of the month to the last of the month).
Even though the International Financial Reporting Standards (IFRS) and the Vietnam Accounting Standards (VAS) share a lot of similarities, there are some significant variations between the two that foreign investors should be aware of before starting a business in Vietnam. It is advisable to request the services offered by a team of accountants in Vietnam, such as our specialists, to avoid any problems.
Do you offer other services in Vietnam?
Yes, our company formation agents in Vietnam can also help you if you require trademark registration.
Our specialists can also offer you a step-by-step guide regarding how to open a bank account in Vietnam or how to set up a company in Vietnam.
Contact our CPA in Vietnam for more details. Additionally, if you are also looking for help to get an appropriate virtual office package, you can rely on our agents.