You have just entered the Vietnamese market and are looking for a business accounting services provider that can optimize cost while still covering your basic compliance obligations. At this stage, many investors still do not have a clear picture of what they actually need: bookkeeping and tax filing only, or also payroll, labor reports, financial statements, and investment reports.
This article from Vina TPT breaks the work down by scope so you can choose an accounting services Vietnam package that matches real operating needs – complete on mandatory obligations, with nothing missing and nothing surplus relative to your current scale.
1. Bookkeeping and Daily Financial Records
The core foundation of any professional outsourcing accounting Vietnam solution is a daily bookkeeping system that is recorded accurately and in strict compliance with the Vietnamese Accounting Standards (VAS).
This workstream includes:
- Document receipt and review: Checking the legality, validity, and reasonableness of all incoming and outgoing e-invoices, bank documents, commercial contracts, and customs declarations (if the company has import-export activities).
- VAS bookkeeping: Recording in detail the transactions arising in revenue, expenses, fixed assets, prepaid expenses, inventory, and provisions under the correct VAS accounts.
- Receivables, payables, and bank reconciliation: Reconciling bank statements (VND and foreign-currency accounts) and maintaining detailed records of customer receivables and supplier payables.
Vina TPT’s management view: Accounting data is not merely for internal storage. It must be of a standard that reconciles 100% with VAT returns, the annual audited financial statements, and FDI investment reports. If there is a discrepancy among these three data sources, the company faces a high risk of tax reassessment and significant penalties at finalization.
2. Tax Compliance and Statutory Filings
Tax filing is the highest-risk workstream if the company does not keep up with changes in legal regulations. A provider of business accounting services is responsible for fulfilling all of the following obligations:
- Value-Added Tax (VAT): Preparing and filing VAT returns on a monthly or quarterly basis; strictly reviewing input VAT deduction conditions (especially the mandatory bank-transfer requirement for invoices of VND 5 million or more).
- Corporate Income Tax (CIT): Calculating quarterly provisional CIT (ensuring that the total provisional payments over four quarters are not lower than 80% of the amount payable on the annual finalization) and preparing the annual CIT finalization return.
- Personal Income Tax (PIT): Filing withholding PIT returns monthly or quarterly and preparing the annual PIT finalization return for all employees.
- Foreign Contractor Tax (FCT): Declaring and paying FCT arising from service contracts, royalties, international freight charges, or loan interest paid to foreign counterparties.
- Business license fee and other taxes: Declaring and paying the business license fee at the beginning of the year, as well as natural resource tax and special consumption tax (if applicable).
The advisory firm must proactively track the tax calendar and alert the company to statutory deadlines in order to fully prevent late-payment penalties or a locked Tax Identification.
3. Payroll, PIT, Social Insurance and Labor Reports
Payroll cannot be separated from the accounting system. Errors in salary calculation and insurance will distort cash flow, affect deductible expenses for CIT purposes, and constitute labor-law violations.
A complete service package should include:
- Payroll and insurance obligations: Preparing the payroll, issuing confidential payslips, calculating PIT withholdings, making social insurance, health insurance, and unemployment insurance contributions, and registering tax identification numbers and dependents for employees. For expatriates, the specialist must carefully check the Work Permit and Temporary Residence Card (TRC) conditions and correctly determine tax residency status (resident or non-resident) in order to calculate PIT accurately.
- Five mandatory labor reports: In addition to tax returns, FDI companies are required to submit five periodic labor reports according to the standard schedule below:
|
Labor Report |
Receiving Authority | Filing Deadline |
Prescribed Form |
| 1. Report on labor utilization | Department of Labor, Invalids and Social Affairs / Industrial Park or Economic Zone Management Board | Twice a year: before 5 June and 5 December | Form No. 01/PLI (Decree 145/2020/ND-CP) |
| 2. Report on unemployment insurance participation | Department of Labor, Invalids and Social Affairs | Once a year: before 15 January of the following year | Form No. 33 (Circular 28/2015/TT-BLDTBXH) |
| 3. Occupational accident report | Department of Labor, Invalids and Social Affairs | Twice a year: before 5 July and 10 January of the following year | Appendix XII (Decree 39/2016/ND-CP) |
| 4. Occupational safety and hygiene report | Department of Labor, Invalids and Social Affairs and Department of Health | Once a year: before 10 January of the following year | Appendix II (Circular 07/2016/TT-BLDTBXH) |
| 5. Occupational health report | District/City Medical Center | Twice a year: before 5 July and 10 January of the following year | Appendix 8 (Circular 19/2016/TT-BYT) |
4. Financial Reporting and Management Reports
At the end of the financial year, the accounting services Vietnam provider prepares a complete set of financial statements under VAS, including the balance sheet, income statement, cash flow statement, and notes to the financial statements. This set of reports is the legal basis for the Tax Authority, the independent auditor, and submission to the statistics authority.
In addition to the statutory financial statements, the management of an FDI company also needs periodic monthly or quarterly Management Reports:
- Profit and Loss (P&L) management report analyzing revenue and expenses
- Cash flow management report
- Aging report for accounts receivable and accounts payable
These management reports are presented in bilingual format (English – Vietnamese) so that Headquarters can monitor the financial health of the Vietnam entity without a language barrier.
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5. Mandatory FDI Investment Reports
This is the obligation that many FDI companies miss when they use low-cost accounting packages. Missing investment reports not only leads to substantial administrative penalties but also creates serious bottlenecks when the company later adjusts its Investment Registration Certificate (IRC), increases capital, extends the project, or remits profits abroad.
Every foreign-invested enterprise (from 1% to 100% foreign capital) or project that has been granted an IRC is required to file investment reports. Even if the project has not yet generated revenue, is still in the construction phase, or has temporarily suspended operations, the company must still report (by declaring zero figures).
Investment reporting obligations consist of two main groups:
- Report on the Implementation of the Investment Project (filed online on the fdi.gov.vn system under Decree 96/2026/ND-CP)
- Quarterly report: Filed before the 10th day of the first month of the following quarter. Content includes implemented investment capital, revenue, import-export value, headcount, amounts paid to the state budget, and land/water-surface use.
- Annual report: Filed before 31 March of the following year. Content includes a comprehensive assessment of investment results, product sales, average employee income, operating costs, R&D activities, environmental impact, and the origin of the technology used.
- Investment Monitoring and Evaluation Report (under Decree 19/2026, Decree 96/2026, and Circular 44/2026/TT-BTC – Form 13)
- Quarterly report: Filed before the 10th day of the first month of the following quarter.
- Six-month report: Filed before 10 July of the current year.
- Annual report: Filed before 10 February of the following year.
Vina TPT’s management view: Figures on the Investment Activity Report (IAR) must match the VAS accounting books and the tax returns. A discrepancy between the investment report and the audited financial statements is the first signal that the investment management authority and the tax authority will place the company on a specialized inspection list.
6. How to Choose the Right Business Accounting Services Package
To choose a suitable accounting compliance package, the Board of Directors of an FDI company should follow these steps:
- Correctly determine scale and transaction profile: Assess the monthly volume of source documents, whether the company has import-export activities or Foreign Contractor Tax (FCT), the size of the workforce, and whether expatriates are employed.
- Lock in the exact Scope of Work: Require the provider to state clearly in the contract whether the package covers only bookkeeping and tax filing, or a full package that includes payroll, labor reports, and periodic FDI investment reports.
- Provider evaluation criteria: Prioritize a partner with hands-on FDI experience, a bilingual advisory team, a multi-level quality control (QC) process before filing, and the ability to represent the company directly before the Tax Authority and the investment management authority.
- Clarify management reporting and the advisory layer: Ask whether the provider issues monthly management reports (P&L, cash flow, receivables and payables) and whether those reports are figures only or include commentary. At the same time, lock in the advisory scope in advance: filing only, or also support when a tax issue arises, an inspection is launched, or Headquarters needs an explanation of the figures.
7. How Vina TPT Delivers Business Accounting Services
Vina TPT provides a comprehensive business accounting services solution that gives FDI companies full legal peace of mind in Vietnam:
- VAS bookkeeping and full-package tax filing: Recording the books under VAS and filing VAT, CIT, PIT, and FCT accurately and on time. The package also includes Chief Accountant services – a mandatory requirement for every FDI company, needed from company setup through the opening of the bank account.
- Payroll administration and labor reports: Calculating salaries, optimizing insurance costs, completing expatriate PIT finalization, and filing all five mandatory labor reports.
- Financial statements and FDI investment reports: Preparing the annual financial statements, supporting work with the independent auditor, and handling the full package of periodic investment monitoring reports.
- Flexible operating model: Advising and delivering bilingual management reports (English – Vietnamese – Japanese), with remote or hybrid working arrangements depending on the company’s stage of development.
- Continues to support in-depth services: VAT refunds, preparation and accompaniment during tax inspections, transfer pricing documentation, and advisory on mergers and acquisitions.
If your company wants to review its current compliance scope, contact Vina TPT today for an expert consultation on the most suitable solution.
