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[Newsletter] Vietnam Tax Policy Updates December 2025 – VAT, FCT, PIT and Labor Regulations

Posted on 22/01/202610/03/2026 by SEN

Vina TPT Tax Expert analyzing Vietnam Tax Policy Updates 2026

Based on the latest Vietnam Tax Policy Updates, Vina TPT is pleased to provide a summary of critical tax and labor regulations that will directly impact business operations starting from late 2025 and into 2026. In the context of a rapidly changing legal environment, staying compliant is not just a legal requirement but a strategic advantage for enterprises operating in Vietnam.

1. Vietnam Tax Policy Updates: Value Added Tax (VAT)

Regarding VAT refunds for investment projects implemented before 01 July 2025 under the new regulations.

Official Letter No. 5938/CT-CS dated 12/12/2025 of the Department of Taxation refers to the value-added tax (VAT) policy related to tax refund for investment projects. Accordingly, in case business establishments have investment projects that have been invested before July 1, 2025 and are still in the investment stage from the effective date of Decree 181/2025/ND-CP (July 1, 2025), tax refund regulations for investment ( according to Clause 2, Article 15 of the VAT Law No. 48/2024/QH15 and Article 30 of Decree No. 181/2025/ND-CP ).

This means that business establishments need to clearly determine the time of starting the investment project and the implementation period to determine the benefits of VAT refund according to the new regulations. At the same time, operating business establishments with investment projects eligible for VAT refund must make a separate VAT declaration dossier for the investment project (on the declaration form 02/GTGT) in accordance with the law on tax administration (Point d, Clause 2, Article 7 of Decree No. 126/2020/ND-CP).

2. Vietnam Tax Policy Updates: Foreign Contractor Tax (FCT)

2.1. Regarding the contractor tax policy in cases where the company generates income from subscription service contracts in Vietnam.

Official Letter No. 4998/HYE-QLDN2 dated 02 December 2025 issued by Hung Yen Provincial Tax Department, the tax payment obligations are noted as follows:

a. Determination of Service Type:

Important: First, it is necessary to clearly determine whether the services provided under the contract are software products or software services as prescribed in Decree No. 71/2007/ND-CPstatus2 . To determine, it is necessary to contact the state management agency for information and communication.
If it is a software product/service: Exempt from VAT.
If not a software product/service: Subject to VAT and CIT according to the provisions of contractor tax.

b. Value Added Tax (VAT):

If not a software product/service:
Tax calculation method: Calculated directly on revenue.
VAT rate: 5% of revenue.

c. Corporate Income Tax (CIT):

Tax calculation method:
Direct method (percentage to revenue): Applicable if the foreign contractor does not meet the conditions for paying tax according to the declaration method (revenue – expenses).
Turnover for CIT calculation: All turnover received by the foreign contractor, exclusive of VAT, including expenses paid by the Vietnamese party on behalf of the Vietnamese party (if any).
Rate (%) of CIT calculated on taxable turnover:
If income from royalties (according to Clause 3, Article 7 of Circular 103/2014/TT-BTCstatus2 ): 10%
If not royalty income: 5%

d. Important Note:

New guiding documents: When the competent authority issues a document guiding the implementation of the Law on CIT No. 67/2025/QH15, it is necessary to comply with these new regulations.
Accurate determination of the type of service: Determining the exact type of service (software or not) is a key factor in determining the right tax obligation

2.2. Regarding Foreign Contractor Tax (FCT) on the use of foreign brands.

Based on the guidance provided by the Quang Ngai Provincial Tax Department in Official Letter No. 3601/QNG-QLDN1 dated 12 December 2025, if a Vietnamese company enters into a contract with a foreign company for the use of instructions and content associated with the foreign company’s brand in Vietnam, the Vietnamese party shall bear the responsibility for declaring and paying Foreign Contractor Tax (FCT) as follows:

a. Responsibility for tax deduction and payment:

Vietnamese companies must be obliged to declare, deduct and pay tax on behalf of foreign contractors for the copyright fee for using foreign brands in Vietnam, because this is a payment to foreign organizations that do not have permanent establishments in Vietnam.

b. Legal grounds:

The declaration, deduction and payment of tax must comply with the provisions of current law, including:

Circular No. 103/2014/TT-BTC dated 06/8/2014 of the Ministry of Finance (especially Article 4).
VAT Law No. 48/2024/QH15 dated 26/11/2024, Decree No. 181/2025/ND-CP dated 01/7/2025, Circular No. 69/2025/TT-BTC dated 01/7/2025 (related to VAT).
Decree No. 126/2020/ND-CP dated 19/10/2020 of the Government (especially Point n, Clause 4 and Point e, Clause 6, Article 8).

c. Form of Payment:

This liability arises regardless of the form of payment, including payment directly or through payment.

d. Tax Declaration:

VAT and CIT of foreign contractors applied by the direct method or CIT under the mixed method must be declared for each time of payment incurred. If you pay multiple times a month, you can declare it monthly.
VAT and CIT by the direct method or CIT by the mixed method of foreign contractors must be finalized at the end of the contract. CIT according to the declaration method of foreign contractors is settled annually.

3. Vietnam Tax Policy Updates: Personal Income Tax (PIT)

3.1. Regarding the registration of a new tax identification number (TIN) and the tax identification number for dependents.

Official Letter No. 6030/CT-NVT dated 16 December 2025 issued by the Tax Department regarding notes on the registration of new tax identification numbers and tax identification numbers for dependents. Specifically, pursuant to Clause 2 Article 38 and Clause 2 Article 39 of Circular No. 86/2024/TT-BTC, from 1 July 2025, the personal identification number shall be used in replacement of the individual tax identification number (TIN).

Taxpayers may use their personal identification number when their tax registration information has been successfully matched with the individual’s information stored in the National Population Database. At that time, the taxpayer shall record the personal identification number in the “Tax Identification Number” field on tax returns, tax payment documents, invoices, personal income tax (PIT) withholding dossiers, and other dossiers, documents, and materials that require declaration of the TIN.

From July 1, 2025, enterprises will register new tax returns for employees when they first go to work or register new employees for new employees/dependents who do not have tax returns according to the provisions of Point b, Clause 1, Article 22 of Circular 86/2024/TT-BTC. After successful tax registration (i.e. the taxpayer’s tax registration data matches the personal information stored in the national population database), the enterprise uses the personal identification number for tax deduction, declaration and payment as prescribed.

Regarding the self-registration of dependents when changing workplaces, taxpayers can register dependents for family circumstance deduction through web portals such as: National Public Service Portal (https://dichvucong.gov.vn); Information system for settlement of administrative procedures (https://dichvucong.gdt.gov.vn); Electronic Tax Portal (https://thuedientu.gdt.gov.vn “personal” module or register directly with the tax authority.

Taxpayers are only required to register and submit documents proving that each dependent is eligible for family circumstance deduction (according to the provisions of Point i, Clause 1, Article 9 of Circular No. 111/2013/TT-BTC). However, when changing the place of work, there is no connection to share information between the income-paying agencies (the new working unit has no basis to calculate the deduction of dependents), so the taxpayer must re-register the dependents at the new workplace.

Currently, the Ministry of Finance is developing a draft of a new PIT Law and a new Law on Tax Administration. Accordingly, the tax authority will build and operate a centralized electronic data system, allowing the storage and lookup of information on family circumstance deduction of dependents through tax identification numbers/personal identification numbers

4. Invoice Policy Updates

4.1. VAT policy and invoicing regulations regarding the time of invoice issuance and the VAT policy applicable to digital products and services.

According to Official Letter No. 5706/CT-CS dated 3 December 2025 issued by the Tax Department, the related contents are responded as follows: Regarding value added tax (VAT) policy, the Company should note that from July 1, 2025, regulations on 0% tax rate, conditions for applying 0% tax rate and conditions for deduction and refund of tax for exported goods and services have been specifically regulated in new legal documents ( Article 9 of Law on Value Added Tax No. 48/2024/QH15, Decree No. 181/2025/ND-CP and Circular No. 69/2025/TT-BTC ). This includes digital information content products.

For the period before July 1, 2025, it is necessary to base on the legal documents in effect at that time ( Clause 6, Article 1 of Law No. 31/2013/QH13, Decree No. 209/2013/ND-CP and Circular No. 219/2013/TT-BTC ), and at the same time refer to previous guidance documents of the Tax Department to ensure compliance with regulations at each period.

Regarding invoice issuance time, (Clause 1 and Clause 4, Article 9 of Decree No. 123/2020/ND-CP ), it is necessary to clearly define the time of transferring ownership/right to use the card to the customer according to the company’s terms of service. Accordingly, when the customer has paid, the money has been transferred to the company’s account and the customer has received the code, the transaction is considered complete . This determination needs to be based on comparison with actual records, the nature of the operation and the provisions of e-commerce law to ensure compliance with regulations on invoice issuance time.

4.2. Regarding the issuance of invoices for on-the-spot export goods.

Accordingly, Official Letter No. 3258/TNI-QLDN2 dated 1 December 2025 issued by the Tay Ninh Provincial Tax Department provides guidance on the issuance of invoices for on-the-spot export goods as follows:

The Company is responsible for issuing VAT invoices when selling goods (Article 4, Decree 123/2020/ND-CP, amended by Article 1, Decree 70/2025/ND-CP) , including cases of goods and services used for promotion, advertising, samples; goods and services used for giving, donating, exchanging, paying in lieu of salary for employees and internal consumption (except for goods circulated internally to continue the production process); exporting goods in the form of lending, borrowing or returning goods. Invoices must be issued and delivered to the buyer.

Regarding invoice content, the Company must comply with (Article 10, Decree 123/2020/ND-CP, amended by Article 1, Decree 70/2025/ND-CP) and (Clause 6, Article 28, Decree 181/2025/ND-CP) . This includes providing complete and accurate information of the buyer on the VAT invoice, especially in the case of on-the-spot export.

Regarding the conditions for deducting input VAT on goods processed for export, the company needs to ensure that it has all the required documents (Clause 6, Article 28, Decree 181/2025/ND-CP) , including: export processing contract, VAT invoice clearly stating the processing price and quantity of processed goods returned to foreign countries, transfer slip of processed products with confirmation from the parties, and must make non-cash payments according to the provisions of law. Customs declarations also need to be made according to customs laws.

5. Tax administration: Key Updates on Tax and Invoice Penalties Applicable from 16 January 2026

Official Letter No. 6175/CT-PC dated 22 December 2025 issued by the Tax Department regarding the introduction of new provisions under Decree No. 310/2025/NĐ-CP, which amends and supplements a number of articles of Decree No. 125/2020/NĐ-CP, effective from 16 January 2026, with the following important amendments and additions on tax and invoice penalties:

5.1. Supplementing the scope of adjustment and some administrative violations on taxes and invoices:

Supplementing revenues in accordance with the law on management and investment of state capital in enterprises assigned to tax administration agencies to manage revenues within the scope of adjustment.
Supplementing the sanctioned subjects being the constituent units responsible for declaration and violations related to the notification of this constituent unit.
Amending and supplementing regulations on sanctions for e-invoice service providers that provide solutions that do not comply with the principles of the law on invoices.

5.2. Amending and supplementing the principles of sanctioning administrative violations related to taxes and invoices:

Amendments to regulations on sanctions in case taxpayers incorrectly declare many indicators on tax dossiers on the same day. Abolish the aggravating circumstance of “repeated administrative violations” in some cases.

Supplementing regulations on sanctions in case taxpayers falsely declare many indicators on one tax dossier.

Supplementing regulations on sanctions for acts of invoicing at the wrong time or failing to issue invoices.

5.3. Amending and supplementing regulations on determination of aggravating circumstances of “large-scale administrative violations”:

Clearly stipulate 02 cases of application of the aggravating circumstance of “large-scale administrative violations” related to the number of violating invoices and the amount of evaded tax.

5.4. Amendments and supplements to regulations on administrative violations committed by relevant organizations and individuals:

Amending and supplementing regulations on sanctioning administrative violations against individuals and organizations (including foreign bank branches) when providing information and documents related to tax obligations and accounts of taxpayers in contravention of regulations.

5.5. Amendment of the fine bracket for acts of invoicing at the wrong time and acts of not invoicing:

Revise the fine bracket corresponding to the number of violation invoices in a case for these two acts.

5.6. To amend, supplement and abolish the competence to sanction administrative violations of titles:

Supplementing the authority to impose penalties in the form of fines for tax officials.
Amendment of names and sanctioning competence of heads of tax authorities at all levels.
Abolishing the title of chairman of the district-level People’s Committee and a number of other titles from the list of persons with sanctioning competence.

5.7. Amendments to regulations on the order and procedures for sanctioning administrative violations:

Amending regulations on the right to accountability of taxpayers, in accordance with the new provisions of the Law on Handling of Administrative Violations.

5.8. Abolition of a number of administrative violations on invoices:

Abolish acts of violating regulations on invoices ordered to be printed, invoices printed on order, sale of invoices ordered to be printed, issuance of invoices and cancellation of invoices.

6. Others: Officially Designating 24 November as “Vietnam Cultural Day”

Resolution No. 80-NQ/TW, issued on 7 January 2026, affirms that cultural and human development is a fundamental pillar of sustainable development. Accordingly, 24 November each year is officially designated as “Vietnam Cultural Day,” on which employees are entitled to a paid day off. This regulation aims to enhance cultural participation, encourage creativity, and promote a civilized and healthy lifestyle across society.

Conclusion

The Vietnam Tax Policy Updates for late 2025 and 2026 reflect a significant shift towards digitalization and more stringent compliance standards. From the transition of using personal identification numbers for PIT to the new administrative penalty framework effective January 16, 2026, it is clear that proactive preparation is essential for every enterprise.

At Vina TPT, we understand that navigating these complex changes can be challenging for businesses. Whether you need assistance with VAT refund dossiers for investment projects or clarifying Foreign Contractor Tax (FCT) obligations for digital services, our team of experts is ready to provide tailored solutions. Stay ahead of the regulatory curve and ensure your business operations remain seamless and compliant in the new year.

Contact Vina TPT today for a comprehensive tax health check and professional advisory services!

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Accounting & Tax, Accounting News, Business Knowledge, Finance & Accounting Knowledge, Lasted News, Tax Knowledge, Tax News

Outsourcing Accounting Services for Small Business in Vietnam

Posted on 31/12/202523/01/2026 by ASS

vina tpt outsourcing accounting services for small business

A Step-by-Step Guide to Outsourcing Accounting Services for Small Business in Vietnam

Entering the vibrant Vietnamese market offers immense opportunities for global expansion, driven by a stable economy and a pro-business regulatory environment. However, this potential is accompanied by a sophisticated web of legal frameworks, evolving tax circulars, and strict administrative requirements that can be daunting for newcomers.

For Foreign Direct Investment (FDI) Small and Medium Enterprises (SMEs), outsourcing accounting services for small businesses is no longer just a simple cost-cutting measure or a tactical convenience. In the rapidly changing landscape of 2026, it has evolved into a high-level strategic move designed to mitigate regional risks, ensure absolute compliance with local authorities, and build a foundation for sustainable, long-term operations in Vietnam. By leveraging expert external support, business owners can navigate the complexities of local standards while keeping their internal resources focused entirely on core growth and market penetration.

1. Why Outsourcing Accounting Services for Small Business is Essential for FDI Entities

New FDI businesses in Vietnam often navigate a “maze” of operational hurdles:

E-invoicing Pressure & Strict Deadlines: The mandatory adoption of e-invoices and rigid monthly/quarterly tax filing deadlines can lead to heavy administrative fines without a dedicated professional team.
The VAS vs. IFRS Gap: Discrepancies between Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS) make consolidating reports for headquarters difficult, often delaying audits and profit repatriations.
Language Barriers & Talent Turnover: Finding accountants fluent in English or Japanese is difficult. High turnover rates and hidden labor costs (insurance, benefits, training) can destabilize a company’s management system.

2. Strategic Benefits of Outsourcing Accounting Services for Small Business

Instead of maintaining a bulky internal department, utilizing professional accounting services allows SMEs to focus entirely on their core business growth.

Comprehensive Legal Compliance through Bookkeeping Services

Professional firms provide end-to-end solutions, from bookkeeping services to tax filing, keeping your business “safe” from tax authorities:

Tax Filings: Handling Value Added Tax (VAT), Corporate Income Tax (CIT), Personal Income Tax (PIT), and Foreign Contractor Tax (FCT).
Mandatory FDI Reports: Preparing periodic investment project implementation reports as required by the Ministry of Planning and Investment (MPI).

Cost and Management Optimization

Global Standard Reporting: Providing English-language reports and mapping VAS data to IFRS formats for seamless parent company oversight.
Budget Efficiency: Outsourcing costs are significantly lower than hiring full-time internal staff, eliminating expenses for office space, infrastructure, and specialized accounting software.

3. Our Workflow for Outsourcing Accounting Services for Small Business at Vina TPT

At Vina TPT, we utilize a transparent, professional workflow specifically designed to meet the rigorous standards of international investors:

Consultancy & Collection: We advise on the required documentation based on your specific industry and collect original vouchers monthly.
Data Processing: All transactions are entered into specialized accounting software, ensuring data systematicity and easy retrieval.
Integrity Review: We perform a meticulous analysis of all accounts to ensure data is complete, accurate, and valid under Vietnamese law.
VAS Reporting: Monthly and annual financial statements are prepared according to VAS standards, with optional IFRS conversion for auditing purposes.
Managerial Insights: We provide ad-hoc managerial reports tailored to the Board of Directors’ needs, offering a clear view of the company’s financial health.
Professional Advice: Acting as your dedicated accounting and tax consultant, we provide real-time updates on new tax policies to help you adapt and optimize tax obligations.

4. Why Vina TPT is the Ideal Partner for SMEs in Vietnam?

We understand the anxieties of business owners in a new market. Vina TPT offers exclusive advantages:

“Pay-as-you-grow” Model: Flexible service fees based on actual document volume, starting from just $120 USD/month. This is the perfect solution for SMEs to preserve working capital during the early stages.
No Language Barrier: Our experts communicate directly in English or Japanese, ensuring transparency without the need for third-party interpreters.
From Compliance to Strategy: We go beyond filing taxes; we provide deep Financial Insights to help you make data-driven business decisions.
Confidentiality & Transparency: We guarantee absolute security for all cash flow and accounting data, building a foundation of trust for your operations in Vietnam.

Ready to Optimize Your Accounting Operations in Vietnam with Vina TPT?

Don’t let complex administrative hurdles, shifting tax regulations, or language barriers slow your business progress and market entry. Navigating the Vietnamese regulatory landscape requires precision, and even a small oversight in compliance can lead to costly delays.

Contact our expert team at Vina TPT today for a comprehensive 1-on-1 intensive consultation. We will provide you with a tailored roadmap for outsourcing accounting services for small business, ensuring your financial system is robust, transparent, and fully compliant from day one. Let us handle the complexities of the local system so you can focus entirely on scaling your business and achieving your strategic goals in Vietnam.

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FDI Company Setup in Vietnam: Business License & Complete 2026 Guide

Posted on 30/12/202530/12/2025 by ASS

Why Setting up Company in Vietnam is the Strategic Choice for 2026?

The year 2026 marks a pivotal turning point for foreign investors in Vietnam. With significant reforms in the Law on Investment and a roadmap to reduce conditional business lines, the process for setting up a company in Vietnam is becoming more transparent and streamlined than ever.

However, to operate legally in specialized sectors such as retail, distribution, or logistics, investors must follow a structured path from obtaining an IRC and ERC to securing a specific business license.

1. Why Foreign Investors Need a Clear Roadmap in 2026

Starting a business in Vietnam as a foreigner offers immense potential, but understanding the 2026 regulatory landscape is crucial to avoiding delays or rejected applications.

a. FDI Opportunities in 2026

Vietnam maintains its position as Southeast Asia’s “global factory” based on four key pillars:

Extensive FTA Network: Leverage tariff incentives from the CPTPP, EVFTA, and RCEP.
New Incentive Policies: Strong focus on high-tech projects, circular economy, and renewable energy.
Flexible Ownership Structures: 100% foreign ownership is permitted in most sectors, including manufacturing, IT, consulting, and trading.
Digitalized Procedures: Significant reduction in waiting times through the National Business Registration Portal.

b. When is a Business License (Trading License) Mandatory?

While many sectors are open, a Business License (Trading License or Retail Distribution License) is still mandatory for foreign investors in “conditional” sectors under WTO commitments and Vietnamese Law.

Even with eased regulations, a separate Business License is required after company formation for:

Retail Sales: Directly providing goods to end consumers.
Distribution & Import: Applied to restricted or specialized commodity groups.
Specialized Services: Logistics, education, healthcare, and F&B.
Important Note: By July 1, 2026, sectors like accounting and insurance brokerage will see further liberalization. However, for Retail & Distribution, investors must still seek approval from the Ministry/Department of Industry and Trade.

c. Distinguishing IRC vs. ERC vs. Business License

Understanding these three acronyms is vital for any foreigner setting up a company in Vietnam:

Permit Type	Issuing Authority	Primary Role
IRC (Investment Registration Certificate)	Department of Planning and Investment (DPI)	Approves the investment project (capital, objectives, location).
ERC (Enterprise Registration Certificate)	Business Registration Office	Creates the legal entity and issues the Tax ID.
Business License	Relevant Ministry or Department	Grants permission to operate in conditional sectors (Retail, etc.).

The Standard Sequence: IRC (Project Approval) → ERC (Company Formation) → Business License (For specific sectors).

2. 5-Step Process for Setting Up Company in Vietnam in 2026

The average timeline for completion ranges from 1 to 2 months, depending on the complexity of your business lines.

Step 1: Choose a Legal Structure & Check Ownership Limits

The most common choice is a Limited Liability Company (LLC) due to its flexibility and limited liability protection. Foreigners must verify if their specific sector requires a Joint Venture (JV) with a Vietnamese partner.

Step 2: Obtain the Investment Registration Certificate (IRC)

Investors submit the application to the DPI. Key documents include:

Detailed Investment Project Proposal.
Proof of Financial Capacity (Bank statements or audited reports).
Office Lease Agreement or Memorandum of Understanding (MOU).
Timeline: 15 – 35 working days.

Step 3: Obtain the Enterprise Registration Certificate (ERC)

Once the IRC is issued, the ERC application is typically processed within 3 – 7 working days. This step officially grants your business its legal status.

Step 4: Post-Registration Procedures (Operational Compliance)

Obtaining the ERC is only the beginning. Within 90 days, investors must fulfill these mandatory obligations:

Open a Direct Investment Capital Account (DICA): This is the most critical step. All capital contributions, profit repatriations, and share transfers must flow through this account.
Capital Contribution: Ensure the total committed capital is transferred into the DICA within 90 days of ERC issuance.
Online Investment Reporting: Businesses must report project progress quarterly and annually on the National Investment Information System. Missing these deadlines can lead to heavy administrative fines.
Initial Tax & Accounting Setup: Register digital signatures, set up e-invoice templates, and pay Business License Tax (License Fees). Appointing a Chief Accountant or an outsourced accounting representative is a legal requirement for signing financial statements.

Step 5: Specialized Business License (If applicable)

For retail and distribution entities, authorities will assess the application based on local planning and socio-economic impact. Note the Economic Needs Test (ENT) requirement if you plan to open a second retail outlet or more.

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3. Required Documents & Checklist

All foreign documents must be Consularly Legalized, translated into Vietnamese, and notarized.

Individual Investors: Notarized passport + Bank balance confirmation.
Corporate Investors: Parent company’s Certificate of Incorporation + Audited financial statements (last 2 years) + Resolution appointing the authorized representative.
Project Documents: Detailed Business Plan and proof of right to use the business location.

4. Vina TPT: Your Trusted Partner for FDI Success in Vietnam

Establishing a legal entity is just the start. To thrive in the Vietnamese market, businesses need a solid foundation in Accounting, Tax, and HR from day one.

Vina TPT is proud to be a strategic partner, helping foreign investors remove language barriers and navigate local legal complexities:

Expert Consulting: From initial setup to tax structure optimization. We keep you updated on the latest regulations, including Global Minimum Tax and 2026 tax incentives.
Payroll & HR Management: We handle labor contracts, Social Health & Unemployment Insurance (SHUI), and Personal Income Tax (PIT) finalization for both expats and locals, ensuring absolute confidentiality.
Lifecycle Partnership: With over 20 years of experience, Vina TPT provides an “All-in-one” ecosystem. You focus on growth; we handle the administration.
No Language Barrier: Our trilingual team (English – Japanese – Vietnamese) ensures transparent communication and seamless management reporting.

Optimize your resources and minimize legal risks with Vina TPT. Contact us today for a 1-on-1 specialized consultation for your 2026 project.

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Accounting & Tax, Business Knowledge

Trading Companies: Streamlined HCM Bookkeeping Services

Posted on 24/11/202528/11/2025 by ASS

Bookkeeping services for trading companies in Ho Chi Minh City by Vina TPT

1. The Complexity of Bookkeeping in HCM’s Trading Sector

Bookkeeping services play a crucial role in helping trading companies control their financial data accurately. Trading companies in Ho Chi Minh City often have to manage many different types of transactions from import, export to domestic and online retail. Each transaction generates invoices, documents and requires timely tax declaration according to the regulations of the Vietnamese tax authorities.

The process of declaring VAT, CIT and import-export tax is constantly changing, making it difficult for businesses to update, calculate and store documents correctly. In addition, comparing invoices between branches or with foreign suppliers increases the possibility of errors if the business does not have a systematic accounting system.

If processed manually, businesses will spend a lot of time, easily make mistakes and fall into a situation of late tax payment, lack of valid documents or incomplete declaration, leading to administrative fines and affecting cash flow.

2. Challenges Small Trading Companies Face in Daily Accounting

Small trading companies often face common problems such as managing paper documents, reconciling invoices, calculating VAT, CIT and import taxes. Consolidating financial statements from multiple branches or separate business units is also difficult, especially when data is not standardized.

Many businesses lack professional accounting staff and have to rely on people who are not experienced in handling complex operations. This leads to the risk of declaring incorrect tax figures, not submitting reports on time or having problems in auditing. Common errors can be incorrect invoices, mismatching import documents with tax declarations, or missing deductible expenses.

3. Outsourced Bookkeeping as a Solution for Efficiency

Hiring outsourced bookkeeping services is an effective solution to help trading companies save on personnel costs, reduce the risk of errors and increase productivity. Vina TPT provides a complete service from collecting documents, entering data, preparing periodic reports to checking data, ensuring all figures are accurate and in accordance with Vietnamese tax laws.

With a team of experts who understand the regulations for trading businesses, Vina TPT can handle complex operations such as calculating VAT for imported goods, calculating corporate income tax, comparing invoices between branches and standardizing data to easily consolidate reports. This helps businesses reduce management pressure, save time and focus on business development.

BOOST YOUR BUSINESS WITH OUTSOURCED BOOKKEEPING

4. Ensuring Accuracy and Compliance Through Streamlined Processes

Vina TPT applies standardized accounting processes, ensuring accurate and audit-ready data, while complying with Vietnamese laws. This system helps track cash flow, manage costs and control invoices effectively. All VAT, CIT and financial reports are prepared and thoroughly checked before submitting to the tax authorities, minimizing the risk of fines and errors.

In addition, applying an online system allows businesses to track documents and reports anytime, anywhere, increasing transparency and internal control. Businesses using professional services like Vina TPT can confidently expand operations and develop markets without worrying about compliance.

5. Tailored Bookkeeping Solutions by Vina TPT for Trading Companies

Vina TPT provides accounting and bookkeeping services customized to the needs of each trading company. Services include:

Preparing and managing complete accounting books
Preparing periodic financial reports and VAT, CIT, and import tax reports
Auditing support and preparing audit-ready documents
Setting up an online document management system, allowing businesses to track all transactions, minimizing the risk of errors

Vina TPT’s team of experts has many years of experience in bookkeeping in the trading field in Ho Chi Minh City, understanding the complex operations and legal requirements of tax authorities. Thanks to that, businesses not only save costs and time but also ensure compliance with the law, accurate and transparent data.

Ready to take control of your bookkeeping with confidence? Contact Vina TPT today for a complete outsourced bookkeeping service tailored to trading companies in Vietnam.

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Accounting & Tax, Business Knowledge, Company Formation, Finance & Accounting Knowledge, Lasted News

Financial statement preparation and compliance in 2025 for Japanese firms

Posted on 05/11/202510/11/2025 by ASS

1. Why 2025 Brings New Financial Reporting Challenges for Japanese Companies in Vietnam

2025 is considered an important milestone for Japanese enterprises operating in Vietnam. The constant change in tax and accounting policies, especially the regulations on Value Added Tax (VAT) and Corporate Income Tax (CIT), makes the preparation of financial statements more complicated and requires higher accuracy than ever.

For foreign-invested enterprises (FDI), especially Japanese enterprises, annual financial statements must be independently audited before being submitted to the tax authorities. This process requires early preparation, data must be complete, clear and can be easily compared with the accounting system at the headquarters in Japan. Compared to domestic enterprises, Japanese companies often spend more time on the comparison, consolidation and review stages, especially when there are differences between Vietnamese and Japanese accounting standards.

2. Key Financial Reports Every Japanese Firm Must Prepare

In Vietnam, all enterprises, especially foreign-invested enterprises (FDI), must prepare a complete set of financial statements according to Vietnamese Accounting Standards (VAS). This set of reports is not only a legal requirement to submit to tax authorities and independent auditors, but also a basis for Japanese enterprises to consolidate financial data with their headquarters in Japan.

The three core reports include: Balance Sheet, Income Statement, and Cash Flow Statement.

Compared to J-GAAP (Japanese Generally Accepted Accounting Principles), VAS has some important differences that Japanese enterprises should note. For example, VAS requires depreciation of fixed assets according to the fixed time frame of the Ministry of Finance of Vietnam, while J-GAAP allows more flexibility based on the actual economic life of the asset. In addition, VAS recognizes revenue when ownership is transferred, not when invoices are issued as in some cases in Japan. Regarding consolidated reporting, VAS applies a different calculation method for minority interests and exchange rate differences than the Japanese standard, so if not adjusted in time, the data when consolidated to the parent company can be significantly different.

Therefore, during the financial statement preparation stage, Japanese companies often have to maintain two sets of data in parallel, one according to VAS standards to serve legal obligations in Vietnam, and one according to J-GAAP to serve the consolidated reporting to the head office. Handling this dual standard requires great care, in-depth understanding of both accounting systems, and close coordination between the internal accounting team, auditors, and consulting units such as Vina TPT Accounting service.

3. Common Pitfalls in Year-End Financial Reporting

When it comes to preparing and submitting financial statements, many Japanese companies in Vietnam often encounter systematic errors that affect the auditing and tax compliance process.

3.1. Consolidation Differences Between Vietnam and Japan

One of the most common issues is the difference in financial statement consolidation between the branch in Vietnam and the headquarters in Japan. Vietnamese Accounting Standards (VAS) have many differences compared to J-GAAP, especially in handling exchange rate differences, classifying fixed assets and recording prepaid expenses.

According to i-Glocal’s analysis (2024), many Japanese FDI enterprises often have to prepare separate financial statements and consolidated reports in parallel, making the data reconciliation process complicated and prone to errors.

3.2. Lack of Valid Expense Documentation

Another common error is the lack of valid documents for deductible expenses. The 2023 report of the General Department of Taxation of Vietnam shows that more than 30% of tax inspection reports of FDI enterprises are related to invalid invoices, documents or incorrect accounting of deductible expenses.

These errors often lead to adjustments to taxable profits, collection of corporate income tax (CIT) and late payment penalties, directly affecting the reputation and financial planning of the parent company.

3.3. Exchange Rate Handling Issues

The handling of exchange rates is also a cause of discrepancies in financial statements. According to Circular 200/2014/TT-BTC, enterprises must use the actual exchange rate at the time of the transaction and prepare financial statements in Vietnamese Dong (VND).

However, many Japanese companies still use internal exchange rates according to Japanese accounting standards, leading to discrepancies when preparing reports to send to Vietnamese tax authorities, especially in the handling of foreign currency revenue and expenses.

3.4. Late Audit Submission and Transparency Requirements

Some Japanese enterprises in Vietnam also have problems submitting audit reports on time or not meeting financial transparency requirements. According to Vietnam Briefing (2024), all FDI enterprises must complete independent audits and submit financial reports within 90 days of the end of the fiscal year.

If the report is submitted late or does not meet standards, the enterprise may be subject to administrative fines, restricted from repatriating profits and face difficulties in renewing its investment license.

These risks not only increase compliance costs, but also directly affect the reputation and progress of consolidated reporting in Japan. Therefore, Japanese enterprises need to focus on controlling documents, complying with VAS and preparing financial records from the beginning to avoid being passive during the audit period.

In summary, full compliance with Vietnamese Accounting Standards (VAS) and financial statement regulations not only helps Japanese enterprises ensure financial transparency and accuracy, but also minimizes tax and audit risks. Proactively reviewing periodically and coordinating with professional accounting units in Vietnam is an important step to maintain stability in financial management and strengthen trust with Japanese management agencies and partners.

EXPERT YEAR-END FINANCIAL REPORTING SUPPORT

4. Outsourced Bookkeeping: The Smart Way to Stay Compliant

Faced with a large volume of accounting work and strict compliance requirements, more and more Japanese enterprises in Vietnam choose outsourced bookkeeping instead of maintaining an in-house accounting team. This solution helps save on personnel costs, ensures accuracy in reporting, and easily coordinates with auditors and tax authorities. Vina TPT Accounting service provides a complete outsourced bookkeeping service exclusively for Japanese enterprises, including: bookkeeping, preparing bilingual financial statements (English – Japanese – Vietnamese), and reviewing data before auditing. Vina TPT’s outstanding strength is its team of experts who can communicate fluently in Japanese, understand Japanese accounting standards (J-GAAP) and Vietnamese regulations (VAS), helping customers easily exchange, compare and consolidate financial data.

5. How Vina TPT Supports Japanese Firms for 2025 Compliance

Entering 2025, when the demand for financial transparency is increasing, Japanese enterprises need a partner who not only does accounting but also accompanies them throughout the entire compliance process.

Vina TPT Accounting service provides comprehensive solutions including:

Preparing and reviewing bilingual financial statements (Japanese – Vietnamese): ensuring easy to understand, accurate and ready for audit.
Consulting on consolidated reports for Japanese corporations: supporting data conversion from VAS to J-GAAP or IFRS.
Consulting and coordinating audits: working directly with independent auditors, helping to reduce review time and limit post-audit adjustment risks.
Monitoring and updating the latest tax – accounting policies: ensuring reports are always in compliance with the regulations of the Ministry of Finance of Vietnam.

With a team of experienced accountants and auditors fluent in three languages (Japanese, English, Vietnamese), Vina TPT helps Japanese enterprises in Vietnam maintain a transparent accounting system, comply with and optimize operating costs in accordance with international standards and Vietnamese law.

For comprehensive advice on financial statement preparation, auditing and tax compliance solutions in 2025, contact VinaTPT.

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Company Formation, Business Knowledge, Lasted News

Business setup and operational licensing for Chinese hotpot and bubble tea chains in Vietnam

Posted on 05/11/202512/11/2025 by ASS

1. Why Chinese Hotpot and Bubble Tea Chains Are Eyeing Vietnam Now

In recent years, Vietnam has become a top attractive destination to register a company in the fields of hotpot and bubble tea chains from China. This attraction comes from the impressive growth rate of the F&B market, the strong expansion of the middle class, and the experiential consumption trend of Gen Z in large cities such as Ho Chi Minh City, Hanoi and Da Nang.

According to a report by Vietnam Briefing (2024), the scale of the food service industry in Vietnam has reached 688.8 trillion VND, equivalent to about 27.3 billion USD, an increase of 16.6% compared to the previous year. Similarly, research by iPOS.vn and Nestlé Professional shows that the Vietnamese F&B industry will maintain a growth rate of about 9.6% per year in the period 2024-2025. Looking further ahead, Mordor Intelligence estimates that the Vietnamese food-service market will reach a size of 41.22 billion USD by 2030, with an average growth rate of 10.7%/year.

These figures clearly reflect the huge potential of the Vietnamese culinary industry, where the demand for dine-out and chain models is growing. With advantages in raw material supply, reasonable premises costs and a young population that loves to experience, Vietnam is becoming a “golden land” for hotpot and bubble tea brands from China.

However, opportunities always go hand in hand with challenges. To be successful, brands not only need to understand the procedures for registering a company or the company formation process, but also need to deeply understand local culinary culture, taste and consumer behavior, key factors that help turn the market boom into a sustainable advantage.

2. The Real Challenge: Localization, Not Just Licensing

Many Chinese brands entering Vietnam face difficulties not in licensing, but in adapting to the market (localization).

Vietnamese people prefer lighter, less spicy, less greasy tastes compared to Chinese cuisine. In addition, rental costs in central areas are increasing rapidly, while requirements for experience space, especially for high-end hotpot models, are increasingly strict.

Human resources to operate a chain of many branches is also a big challenge. Chinese brands inherently have a methodical process, but when applied in Vietnam, they need to standardize training, quality control and service processes to ensure consistency.

Therefore, licensing is just the tip of the iceberg. The bigger problem lies in adapting the operating model to suit the consumer culture and legal environment in Vietnam.

3. Choosing the Right Entry Model: Direct Ownership vs. Master Franchise

Before starting to register a company, investors need to determine the market penetration model. There are two popular strategies:

Direct Ownership (Self-investment and operation)

Advantages: Full control over the brand, product quality and customer experience.
Disadvantages: High investment costs, longer time to apply for licenses and set up operations.
Suitable for: Large brands that want to build a high-end image, create the first flagship store in Vietnam.

Master Franchise (Regional franchising)

Advantages: Helps brands expand quickly, reduce financial risks and take advantage of local networks.
Disadvantages: Requires a clear mechanism for quality monitoring, training and profit sharing.
Suitable for: Bubble tea chains or fast-casual hotpots that want to quickly cover the market.

In fact, many Chinese brands have chosen to combine both models: opening the first store directly to control the image, then franchising to expand to other provinces and cities.

Whichever direction is chosen, investors need to follow the company formation process and comply with the legal regulations on franchise business in Vietnam – including registering the franchise contract with the Ministry of Industry and Trade and periodically declaring taxes.

GET EXPERT GUIDANCE ON ENTRY MODELS

4. Building a Compliant but Scalable Operation

For hotpot or bubble tea chains to expand sustainably in Vietnam, building a legal foundation and licensing right from the beginning is a vital factor. Many international F&B brands have encountered difficulties when developing in Vietnam not because of their products or marketing strategies, but because they have not established a tight legal and operational system from the beginning. When starting a business in Vietnam, F&B businesses need to complete the following procedures:

Investment Registration Certificate (IRC) if there is a foreign capital element.
Enterprise Registration Certificate (ERC) to legally establish a company in Vietnam.
Registering conditional business codes: including food and beverage (5610), food processing (1079), and beverages (4722).

The estimated time for completion is:

Document preparation: 1-2 weeks, depending on the volume of documents and the level of complexity.
IRC appraisal: 20-45 working days.
ERC issuance: 10-20 working days after IRC (or similar if the enterprise is a domestic enterprise).

Applying for “sub-licenses” (operational licenses) including:

Food Safety Certificate.
Fire prevention and fighting license for each facility.
Alcohol sales license (if any).
Registering environmental and labor hygiene according to the scale of the restaurant.

These licenses are issued by different agencies (Department of Finance, Department of Food Safety, Fire Police…), so it requires smooth coordination in the documents.

5. Your Strategic Next Step

As the Vietnamese F&B market is entering a period of fierce competition, having a consulting partner with a good understanding of the local legal and business environment will not only help businesses “open a shop”, but also “build a sustainable brand”. This is the value that Vina TPT company registration brings to F&B chains from China.

With more than 20 years of experience in registering a company and consulting on company formation for foreign businesses, Vina TPT has a deep understanding of each stage that a brand must go through – from the initial market survey, choosing an investment model, to completing legal documents and implementing chain operations.

Vina TPT’s team of experts not only handles administrative procedures, but also accompanies businesses as strategic advisors, helping them:

Consulting on suitable legal models: choosing between 100% foreign capital, joint ventures, or franchise business to optimize control and cost advantages.
Set up a complete investment profile & business registration package: prepare all IRC, ERC documents, register conditional industry codes for F&B, and apply for operating licenses.
Ensure compliance with local regulations: detailed guidance on tax, accounting, human resource management, and standardize operating procedures to meet inspection and testing requirements.

With professional support from Vina TPT company registration, businesses no longer have to worry about legal risks or complicated procedures – instead, they can focus all their efforts on developing their brand, improving customer experience and expanding market share in one of the most dynamic F&B markets in Southeast Asia.

Let Vina TPT become your strategic partner to help you start your business journey in Vietnam legally, effectively and sustainably.

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Company Formation, Business Knowledge, Lasted News

Understanding Vietnam’s licensing requirements for premium F&B concepts from America

Posted on 05/11/202523/01/2026 by ASS

1. Finding Your Market Fit Before Registering a Company in Vietnam

Vietnam is becoming an attractive destination for international F&B brands, especially high-end models from the US. However, before starting the company formation process, investors need to clearly understand local consumer behavior and culinary trends in major cities such as Ho Chi Minh City, Hanoi, and Da Nang.

Unlike the US market, Vietnamese customers have a strong differentiation between high-end and mass consumer groups. Therefore, determining brand positioning such as casual dining, premium restaurant, or street concept, plays a decisive role in choosing an investment model. Careful research helps businesses avoid opening in the wrong segment, reducing financial risks when operating the first store.

2. Choosing the Right Business Model for Your F&B Chain

Not all models are suitable for Vietnamese regulations. American brands can choose three main directions:

100% foreign-owned companies: proactively manage the brand, ensure consistent quality, but the legal process is more complicated.
Cooperating with local partners: helps shorten the time to penetrate the market, but requires a clear brand and financial control mechanism.
Franchising: suitable for brands with a reputation, but requires the franchise contract to be legally registered with the Ministry of Industry and Trade.
Mergers & Acquisitions (M&A): For investors seeking a faster route, acquiring an existing Vietnamese F&B company can be highly effective. However, this approach demands thorough due diligence, including legal, financial, and operational assessments to ensure compliance and minimize hidden risks.

The choice of model directly affects the type of legal entity when performing company registration services as well as the tax structure, licenses and initial investment costs.

SELECT THE BEST BUSINESS STRUCTURE IN VIETNAM

3. Company Registration Services That Simplify Expansion

Registering an F&B company in Vietnam requires careful legal preparation. Investors need to complete the investment certificate (IRC) – if there is foreign capital, and enterprise registration certificate (ERC).

The F&B sector in Vietnam belongs to the group of “conditional” industries, which means that after being granted an ERC, businesses cannot operate immediately but need to register additional related industry codes:

Code 5610: Restaurant and catering services.
Code 5629: Other food and beverage services.
Code 4632: Wholesale of food and beverages.
Code 4722: Retail sale of food in specialized stores.

Registering the correct industry code helps businesses to conveniently apply for sub-licenses such as Food Safety Certificate, Fire Prevention and Fighting License, Alcohol and Beer Sales License, etc.

To ensure the business establishment process is quick and in compliance with regulations, international F&B brands should cooperate with a professional company registration service provider. This solution helps shorten the multi-step legal process, ensures accurate records and completes procedures on time.

Vina TPT company registration service helps businesses shorten the time, prepare documents according to FDI standards, and ensure compliance with all licensing regulations in Vietnam.

4. Licensing and Compliance: What F&B Investors Often Miss

Many international F&B brands fail in Vietnam not because of poor products, but because they do not understand the Vietnam F&B market licensing requirements. To operate legally, businesses need:

Food Safety License for processing or serving locations.
Fire prevention and fighting license for each facility, issued after completing technical acceptance.
License to sell wine, beer or alcoholic beverages if they are on the list of conditional businesses.
Environmental and labor hygiene license, especially for large-scale processing facilities.

Missing one of these licenses can result in a business being suspended or being fined. Preparing all documents and complying from the beginning helps the inspection, acceptance and licensing process go smoothly, while also building a professional brand image in the eyes of Vietnamese management agencies.

5. Building a Scalable System: HR, Tax & Operations

As the F&B chain expands, the management problem becomes more complicated. Investors need to have a tightly operating human resource (HR), tax and accounting management system. Vietnam requires businesses to declare taxes monthly, finalize taxes annually and comply with regulations on accounting for FDI enterprises.

Setting up an internal ERP system and cooperating with a local consulting unit helps businesses minimize fixed costs, while controlling financial activities, profits, and tax obligations. In addition, good compliance with business license tax and regulations on electronic invoices helps businesses avoid the risk of being subject to surprise inspections.

6. Partnering with Experts Like Vina TPT to Go Further

Instead of handling dozens of administrative procedures and legal regulations themselves, many international F&B brands choose Vina TPT company registration service as their strategic partner in Vietnam.

With a team of experts with numerous experience in the field of business registration, investment consulting and F&B licensing, Vina TPT provides full support from company formation, FDI dossier preparation, operating license to accounting and tax after establishment.

Vina TPT experts not only understand Vietnamese regulations, but also have experience supporting many American and Japanese brands to successfully deploy premium dining models. This helps investors focus on the core, customer experience and brand development, instead of wasting time on administrative procedures.

Start successfully in the Vietnamese market today by contacting Vina TPT now!

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Business Knowledge, HR News, Labor & Insurance Knowledge, Lasted News

How Korean IoT Startups Streamline Payroll Management in Vietnam

Posted on 22/10/202514/04/2026 by ASS

Vina TPT Payroll service streamlining outsource payroll for korean IoT startups

1. Payroll Challenges Faced by Korean IoT Startups in Vietnam

When Korean startups expand into Vietnam to develop IoT (Internet of Things) products, they often take advantage of the highly skilled and affordable Vietnamese engineering team. However, a major challenge arises right from the beginning: managing payroll and complying with Vietnamese labor regulations – an area where professional payroll processing companies play a crucial role in ensuring accuracy, compliance, and efficiency.

Many startups have to handle complex contracts, including full-time employees, part-time engineers, and freelancers. Calculating salaries, social insurance, personal income tax, and labor declarations are often done manually, leading to errors and legal violations.

That is why more and more Korean businesses choose to outsource payroll to local experts.

2. Why Payroll Outsourcing Is the Smart Choice for Tech Startups

For small tech companies or Korean IoT startups in Vietnam, maintaining an in-house accounting and human resources department is often costly and ineffective. Outsourcing payroll processing services is a smart choice to help them cut operating costs while still ensuring accuracy and legal compliance. When cooperating with payroll processing companies, businesses can automate the entire process of calculating salaries, deducting taxes and issuing electronic payslips, instead of having to manually process them using Excel spreadsheets.

This solution not only saves time but also limits the risk of errors and violations of labor regulations. Instead of spending hours checking data, startups can focus on product research, technology development and market expansion. Meanwhile, all issues related to payroll, taxes and insurance are handled quickly and transparently by a professional team – making outsourcing payroll the optimal choice for startups that want to develop sustainably in Vietnam.

3. Core Components of Payroll Processing Services

A comprehensive employee payroll service typically includes:

Collecting and validating timekeeping data.
Calculating salaries, bonuses, allowances, and deducting insurance and personal income tax.
Preparing periodic reports to tax and insurance authorities.
Issuing electronic payslips and storing personnel records.
Automatically updating when there are changes in minimum wages or new regulations.

As a result, businesses can save dozens of hours each month on repetitive administrative tasks.

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4. Local Compliance for Foreign-Run Startups

When expanding operations to Vietnam, Korean IoT startups need to focus not only on technology development but also on ensuring compliance with all labor and tax regulations for foreign-invested enterprises. In Vietnam, all forms of salary payments, whether for Vietnamese or foreign employees, must be transparently declared and in accordance with regulations on labor contracts, personal income tax (PIT) and social insurance (SI).

What makes it difficult for many Korean startups is the difference in the legal systems between the two countries. For example, a Korean engineer working in Vietnam may have to pay taxes under two double taxation agreements (DTAs), or require a work permit and legal residence declaration. Meanwhile, Vietnamese employees are subject to different regulations regarding fixed-term contracts, overtime hours and compulsory insurance premiums.

Handling these discrepancies without expertise can easily lead to mistakes, such as underpaying insurance, miscalculating taxes, or creating contracts with incorrect formats. Therefore, Korean startups often choose payroll outsourcing services to ensure that the entire payroll and tax reporting process is carried out legally, on time, and always ready for audit. With support from experts who understand Vietnamese law, businesses can avoid legal risks and strengthen their reputation with regulators and investors.

5. How Payroll Outsourcing Integrates with IoT Business Operations

In the IoT industry, human resources often include short-term contract engineers, foreign experts, and R&D partners.

Managing payroll for this diverse group of human resources requires flexibility that conventional Excel spreadsheets cannot provide.

Cloud-based online payroll processing allows startups to:

Manage human resources data by project.
Track labor costs for each product group.
Generate quick reports for investors or headquarters in Korea.

In addition, when there are foreign employees working in Vietnam, the payroll system needs to ensure compliance with tax regulations for foreigners, that something that Vina TPT Payroll Service fully supports.

6. Why Korean Companies Choose Vina TPT Payroll Service

Vina TPT is one of the prestigious payroll processing companies in Vietnam, chosen by many Korean startups thanks to its experience in supporting technology businesses.

Highlights of Vina TPT Payroll Service include:

Bilingual interface and reports in English – Vietnamese.
Support for many types of contracts (full-time, part-time, freelancer).
Integration with the startup’s existing accounting system.
Ensuring the security and transparency of salary data.
Continuous compliance consulting, helping businesses develop with peace of mind.

With a standardized process, Vina TPT helps Korean startups save time, reduce legal risks and maintain trust with Vietnamese employees.

7. From Payroll Stability to Growth Readiness

A stable payroll system not only helps businesses operate smoothly, but also serves as a foundation for expansion and attracting investment capital.

With the administrative burden removed, Korean IoT startups can focus on their core strengths which are developing technology, expanding products and conquering the Southeast Asian market.

With Vina TPT Payroll Service, payroll is no longer a complicated problem but a stepping stone for sustainable growth in Vietnam.

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Business Knowledge, Accounting & Tax, Company Formation, Finance & Accounting Knowledge, Labor & Insurance Knowledge, Lasted News, Legal News, Tax Knowledge

Entering Vietnam’s Clothing Market: A Practical Guide for Chinese Manufacturers

Posted on 22/10/202529/10/2025 by ASS

Vina TPT company registration service supporting Chinese clothing investors in Vietnam

1. Why Vietnam Is the Next Stop for China’s Clothing Giants

Vietnam is emerging as one of the most dynamic consumer markets in Southeast Asia, especially in the fashion and retail sectors. The middle class is growing rapidly, average incomes are rising, and young people’s shopping trends are gradually shifting towards brands with unique styles and reasonable prices.

For foreign investors and Chinese fashion brands, obtaining a business license in Vietnam is the first important step to legally enter this fast-growing market. With proper licensing and strategic market entry, businesses can take full advantage of Vietnam’s expanding retail opportunities and rising consumer demand.

Vietnamese consumers, especially Gen Z and Millennials, prefer modern fashion that quickly updates global trends while maintaining high practicality. This creates a great advantage for Chinese businesses, which have the ability to produce quickly, flexibly, and at competitive costs.

Not only does Vietnam have great purchasing power, it is also a politically stable market, transparent in investment, and benefits from many free trade agreements (CPTPP, RCEP, EVFTA). In addition, obtaining a business license in Vietnam for fashion or retail activities has become increasingly streamlined, making importing, distributing, or opening Chinese fashion brands in Vietnam easier and more compliant than ever. business license in vietnam

2. Choosing the Right Market Entry Strategy

Chinese businesses can choose one of three popular models when expanding into the Vietnamese market:

Establishing a 100% foreign-owned company (WFOE): Suitable for brands that want to control the entire import-distribution-retail process. This model allows for opening physical stores or doing business online after obtaining the required business license in Vietnam.
Cooperating with local distributors: helps save costs, quickly access the market, and take advantage of the existing retail network.
Joint Venture: Cooperating with Vietnamese businesses to combine local knowledge with goods sources and management capacity from China.

Each form has its own advantages in terms of control level, cost and risk, so it is necessary to consult carefully before choosing.

3. Beyond Paperwork: Setting the Foundation for Operations

To open a business in Vietnam, businesses need to carry out some important legal procedures to have business license in Vietnam:

Investment Registration Certificate (IRC) if there is foreign capital. IRC is the first license allowing the investor to implement the project in Vietnam.

The required documents usually include:

Application for investment project implementation and Project proposal: stating the objectives, scale, location, investment capital, progress.
Proof of the investor’s financial capacity: bank statement, credit contract or collateral.
Legal documents of the investor:
- Individual: Notarized passport, consular legalization.
- Organization: Business registration certificate or equivalent document, consular legalization.
Project location: lease contract or land/office use rights certificate.

After the IRC is granted (or for 100% domestic-owned enterprises), the investor applies for an ERC – an official license for the enterprise to operate, and also the tax code of the company.

Enterprise Registration Certificate (ERC) at the Department of Planning & Investment. The ERC dossier usually includes:

Application for enterprise registration.
Company Charter: stipulates the organizational structure, powers of members/shareholders, capital ratio and management method.
List of members/shareholders and legal representatives: clearly state information, ownership ratio, voting rights.
Appointment decision and authorization letter (if any).
Capital contribution plan & financial evidence: bank statement or credit contract (especially important for large capital projects).

Wholesale and retail of garments and fashion accessories.
Import and export of fashion goods.
E-commerce business (if selling online).

The good news is that the fashion trade and distribution industry does not require any special sub-licenses, so the establishment procedure is quite simple and the processing time is fast.

After obtaining the business license in Vietnam, the business needs to register a tax code, open a bank account, issue electronic invoices and declare taxes periodically to operate legally.

CONSULT ON BUSINESS LICENSE IN VIETNAM

4. Workforce and Culture Integration

The Vietnamese market is diverse and can be divided into 3 key areas:

Ho Chi Minh City: a vibrant commercial center, suitable for young, dynamic fashion.
Hanoi: a traditional market, favoring brands with reliability and elegant designs.
Da Nang, Can Tho: emerging markets, low cost, easy to test retail models.

In addition to choosing a strategic business location, businesses need to:

Cooperate with logistics units to optimize shipping costs from China to Vietnam.
Build a localized marketing strategy, combining platforms such as TikTok, Shopee, Lazada and Facebook, which currently account for the majority of online fashion sales channels in Vietnam.
Understand Vietnamese fashion tastes: prioritize light, airy, easy-to-match and highly applicable products.

5. Local Compliance and Ethical Manufacturing

When operating in Vietnam, recruiting and managing local human resources is an important factor.

Chinese enterprises need to clearly understand the regulations on labor contracts, social insurance, and personal income tax (PIT) to avoid violations.

In addition, cultural differences should also be noted:

Vietnamese people value respect, gentleness, and collaboration in the working environment.
A team of dedicated employees, paid on time and transparently will help operations run smoothly, especially in the retail and customer care sectors.

Many foreign enterprises choose to outsource payroll and HR services to ensure compliance, optimize costs, and reduce administrative risks. In addition, working with a professional consulting partner also helps businesses handle legal procedures such as applying for a business license in Vietnam, registering employees, and setting up a compliant payroll system, ensuring smooth and lawful operations from the start.

6. How Vina TPT Helps You Scale Smoothly

Vina TPT Company Registration is a consulting and implementation unit for comprehensive services for foreign investors in Vietnam, especially Chinese enterprises in the fields of fashion, trade and light manufacturing.

We provide:

Investment consulting & legal structure according to the desired business model.
Business registration services (ERC, IRC), opening bank accounts, tax codes and electronic invoices.
Accounting, tax, payroll, periodic compliance management, ensuring transparent and legal operations.
Bilingual support in English – Vietnamese, helping businesses easily exchange and process documents.

With a team of experts with more than 2015 years of experience in the fields of foreign investment, finance and law, Vina TPT has accompanied hundreds of Chinese FDI companies to successfully expand in Vietnam – from establishment to stable operation.

7. From Setup to Growth: Building a Sustainable Clothing Brand in Vietnam

Vietnam is not only a “production hub” but also a booming consumer market with long-term potential.

Chinese businesses can take advantage of this market to build their brands, develop distribution channels, and expand into Southeast Asia.

With a deep understanding of Vietnam’s legal framework, tax regulations, and consumer market, Vina TPT helps you take every step with confidence – from setting up a legal entity and applying for business licenses in Vietnam, to managing finances and ensuring smooth operations.

Want to bring a Chinese fashion brand to Vietnam quickly and legally?

Let Vina TPT accompany you through the entire process of company registration, compliance and tax accounting, helping you focus on developing your brand.

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Accounting & Tax, Accounting News, Business Knowledge, Company Formation, Finance & Accounting Knowledge, Lasted News, Tax Knowledge

Bridging VAS and J-GAAP: Accounting Outsourcing Solutions for Japanese Companies in Vietnam

Posted on 22/10/202513/04/2026 by ASS

Accounting and financial reporting for Japanese companies in Vietnam under VAS and J-GAAP standards

1. Japanese Firms Face Complex Financial Localization in Vietnam

Japanese corporations are known for their strict financial and accounting processes and high standards of transparency. However, when expanding operations to Vietnam, they face significant differences between Vietnamese accounting standards (VAS) and Japanese accounting standards (J-GAAP). This difference lies not only in the way revenue and expenses are recorded, but also affects the way financial statements are presented and reconciled between the parent company in Japan and its branch in Vietnam.

Many Japanese enterprises share that ensuring compliance with VAS as required by Vietnamese tax authorities while maintaining the internal reporting format according to J-GAAP is a complex problem. To handle these challenges efficiently, many turn to accounting outsourcing services provided by a professional accounting services company in Vietnam. These services not only ensure accurate reconciliation between the two systems but also support the preparation of bilingual reports and bank statements in Japanese, helping Japanese corporations maintain compliance, transparency, and efficiency across borders.

2. Challenges in Reconciling VAS and Japanese GAAP

What makes Japanese companies difficult is not only the difference in accounting regulations, but also in the actual operation process. The way revenue is recognized between the two systems can be different: VAS is based on the time of completion of the delivery obligation, while J-GAAP can record according to the contract conditions.

Another problem is the difference in exchange rates: VAS uses actual or average exchange rates, while J-GAAP may require re-recording at the end-of-period exchange rate, leading to discrepancies in consolidated reports. In addition, preparing bank statements in Japanese or bilingual financial statements to send to the parent company is also a significant challenge, requiring accounting personnel who are both knowledgeable in the field and fluent in the language.

In many cases, Japanese companies have to maintain two separate sets of accounting systems or spend a lot of time adjusting data. This not only increases operating costs but also prolongs the auditing process, reducing the effectiveness of internal financial management.

GET JAPAN-VIETNAM ACCOUNTING SUPPORT

3. Why Accounting Outsourcing Services Is the Optimal Solution

Accounting outsourcing services is becoming an inevitable trend in the Japanese business community in Vietnam. Instead of building a large internal team, businesses can cooperate with a professional unit – both understanding Vietnamese tax regulations and the J-GAAP system.

This solution helps businesses significantly save on personnel costs, minimize the risk of errors in declarations, and maintain standard bilingual financial reports (English – Japanese – Vietnamese), meeting the requirements of both tax authorities and parent companies. In particular, professional accounting service companies can build a data standardization process, ensuring that reports can be directly integrated into the group’s management system in Japan.

Accounting outsourcing services also helps businesses be more flexible – easily expanding or reducing the scale of accounting when there are changes in the project, without affecting the continuity of financial operations.

4. How Vina TPT Simplifies Accounting for Japanese Companies

Vina TPT Accounting Service is the leading accounting services company providing accounting and financial solutions for Japanese enterprises in Vietnam. We deeply understand the differences between VAS and J-GAAP and have built a specialized process to help Japanese clients localize their financial systems while maintaining the transparency standards of the parent corporation.

Vina TPT’s team of experts includes Japanese – English bilingual accountants and tax consultants, who are intensively trained in Japanese accounting standards, Vietnamese taxes, and specialized communication skills in Japanese.

In particular, Mr. Le Quoc Duy, the chief expert in charge of Japanese customers, has more than 2015 years of experience working with large corporations in the fields of manufacturing, finance, and logistics of Japan in Vietnam.

We support businesses in the entire process:

Standardizing data and preparing bank statements in Japanese
Reconciling and converting reports from VAS to J-GAAP
Review documents before sending to HQ
And provide regular advice to ensure accuracy and compliance in the long term.

5. Build Transparent, Compliant and Cross-Cultural Financial Systems

With specialized accounting outsourcing services, Japanese enterprises in Vietnam not only solve compliance issues, but also create a transparent, reliable and cross-culturally compatible financial system. Standardized and bilingual financial data helps strengthen trust between the Vietnamese branch and the Japanese parent company, and facilitates smoother group audits.

In the long term, maintaining a transparent accounting and financial system not only helps companies control costs and optimize profits, but also demonstrates a standard operating philosophy that is consistent with Japanese business culture: accuracy – discipline – reliability.

Contact Vina TPT Accounting Service today for advice on outsourcing accounting solutions and bilingual financial reporting in accordance with J-GAAP standards. We help Japanese businesses in Vietnam operate more easily – accurately, compliantly and sustainably.

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