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

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.

Get a free 30-minutes consultation

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.

Start your journey in vietnam

Accounting & Tax, Finance & Accounting Knowledge, Lasted News

Top Companies Providing the Best Outsourced Accounting Services in Ho Chi Minh City

Posted on 08/12/202505/01/2026 by ASS

1. Why Businesses Look for The Best outsourced accounting services in Ho Chi Minh City

Ho Chi Minh City is the largest economic center in Vietnam, accounting for more than 23% of the country’s total GDP and attracting over 40% of new FDI projects annually (according to data from the Ministry of Planning and Investment). FDI enterprises and small and medium-sized enterprises in Ho Chi Minh City have to handle a dense volume of reports: monthly tax declarations, quarterly reports, annual financial reports according to VAS standards, along with obligations such as corporate income tax/personal income tax settlement and labor reports. The level of inspection and audit in Ho Chi Minh City is also higher than in many other provinces and cities, making the requirements for accuracy and compliance more stringent.

In that context, businesses seek accounting firms not only to “make reports”, but also to have a partner who has a deep understanding of Vietnamese Accounting Standards (VAS), and at the same time meets the need to prepare parallel reports for headquarters in Japan, Korea, the EU or the US. FDI enterprises often have to reconcile data between VAS and IFRS/J-GAAP/K-GAAP, so they need a team capable of handling exchange rate differences, classifying fixed assets, and recording prepaid expenses according to international standards. A suitable accounting firm helps enterprises reduce errors, limit tax penalty risks, optimize cash flow, and significantly reduce the administrative burden for internal departments.

GET EXPERT ACCOUNTING SUPPORT

2. Types of Accounting Firms Commonly Chosen in Ho Chi Minh City

The accounting services market in Ho Chi Minh City is diverse, serving more than 330,000 active businesses, from SMEs to large FDI corporations. Depending on the size, budget and complexity of the reports, businesses often choose between three main groups of providers, each with distinct advantages and disadvantages.

Criteria	International Firms (Big 4 & Global)	Mid-Tier Firms	Boutique / Professional Firms
Ideal Clients	Large FDI corporations, multinational groups, IFRS reporting, mandatory audits	Mid-sized FDI companies, Vietnamese firms with complex transactions	SMEs, FDI startups, businesses needing flexible and cost-effective services
Representative Firms	Deloitte, PwC, EY, KPMG	Grant Thornton, RSM Vietnam, A&C	BDO Vietnam, boutique/non-Big firms (e.g., small approved audit firms)
Expertise	Strong in IFRS/J-GAAP/K-GAAP, globally standardized processes	Solid VAS + IFRS capability, strong in consolidated reporting and advisory	Industry-focused, strong practical accounting capabilities
Response Speed	Fast but structured; larger teams with layered review	Fast, more flexible client communication, good customer care	Fastest, direct work with senior team members, highly adaptable
FDI Handling Capability	Excellent, best fit for large global or regional FDI operations (high cost)	Very good for mid-sized FDI companies with structured operations	Suitable for new or simple FDI setups
Key Strengths	Global credibility, standardized reporting, highest reliability	Good balance of cost, quality, service	Flexible, cost-effective, highly personalized service
Notes on Representative Firms	Deloitte – strong in large FDI audits PwC – comprehensive service line EY – long-established, strong advisory KPMG – wide presence (HN/HCMC/Da Nang)	Grant Thornton – flexible, strong advisory RSM – strong in outsourcing & mid-FDI audit A&C – top non-Big option for VN firms + mid-FDI	BDO Vietnam – part of BDO global network, ideal for SMEs Other boutique firms – suitable for startups, small FDI, custom service needs

3. Why Vina TPT Is a Trusted Choice for International Companies

Vina TPT has become a preferred partner for many FDI enterprises in Ho Chi Minh City by offering a practical balance between local compliance expertise and the reporting expectations of overseas headquarters. As foreign-invested companies navigate increasingly strict tax regulations, frequent monthly and quarterly reporting cycles, and complex cross-border coordination, they need an accounting provider that is both technically reliable and agile enough to support their day-to-day operations. Vina TPT fits this need exceptionally well, especially for Japanese, Korean, Singaporean, and European investors establishing or expanding their presence in Vietnam.

Vina TPT stands out thanks to:

Deep knowledge of VAS and international reporting standards
Bilingual support in English and Japanese for smooth communication
Flexible and comprehensive services covering bookkeeping, tax, payroll, and compliance
An optimized cost structure specifically designed for FDI companies

4. Factors to Consider When Choosing an Accounting Firm in HCM

When selecting an accounting partner, businesses should evaluate:

FDI experience and understanding of foreign-invested business operations
Accuracy and timeliness of reports
Multilingual support and clear communication
Transparency of service scope and fees
Responsiveness and reliability

Choosing the best outsourced accounting services in HCM ensures accurate reporting, full compliance, and peace of mind for your business operations.

Contact Vina TPT today to receive a complete accounting solution, optimize costs and ensure compliance for your business in Ho Chi Minh City!

Get Your Accounting Solution

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.

BOOK A FREE CONSULTATION

Accounting & Tax, Lasted News

Tax Incentive in Vietnam 2025: Comprehensive Guide to Optimize Profits under New CIT Law

Posted on 20/10/202509/04/2026 by ASS

Overview of corporate tax incentives in Vietnam 2025 under the new CIT Law

Tax Incentive: Comprehensive Guide to Corporate Tax Incentives in Vietnam 2025 – Optimize Profits with New CIT Law

With Vietnam’s Corporate Income Tax (CIT) Law 2025 officially in force from October 1, 2025, investors and CFOs are reassessing how to leverage tax incentives to strengthen profitability and compliance.

From 10 – 17% preferential CIT rates to multi-year tax holidays, the new regime gives both domestic and foreign companies more tools to optimize profits but only if you understand the rules.

In this guide, you’ll learn:

What a tax incentive is and why it matters for 2025
The main types of corporate tax incentives available in Vietnam
Key eligibility requirements and risk management
How to prepare and apply effectively with professional support

I. What is a Tax Incentive and Why Do Businesses Need to Know in 2025?

A tax incentive is a government policy designed to reduce or exempt tax liabilities for businesses that invest in targeted sectors or locations, with the aim of encouraging sustainable growth, innovation, and foreign direct investment (FDI).

Under the CIT Law 2025, tax incentives in Vietnam have evolved to:

Support the digital economy and green/clean industries.
Attract FDI via extended tax breaks and preferential schemes.
Motivate companies to reinvest profits inside Vietnam rather than only extracting them.

In today’s competitive ASEAN environment, understanding tax incentives isn’t optional, it’s a survival and growth strategy.

The standard corporate income tax rate remains 20 %. However, preferential rates are flexibly applied:

15 % for enterprises with annual revenue ≤ VND 3 billion
17 % for enterprises with revenue over VND 3 billion up to VND 50 billion
In specific cases (e.g., foreign-owned enterprises, cooperatives…) where cost/expense determination is difficult, a direct tax rate on revenue may apply

II. Key 2025 Updates: Major Types of Corporate Tax Incentives in Vietnam

1. Expanded deductible expenses under the 2025 CIT Law

Enterprises are now allowed to deduct additional expenses related to scientific research, digital transformation, testing new technologies, emission reduction, and community activities. This aims to create favorable conditions for businesses to pursue sustainable growth and innovation.

2. Incentives by sector, location, and investment project

Investment projects in high-tech sectors such as semiconductor production, AI, data centers, automobile manufacturing, and electronic device production are eligible for a preferential tax rate of 10% for up to 15 years.
Expansion projects applying clean technologies or contributing to environmental improvements may also qualify for tax exemptions or reductions if they meet specific requirements.

3. Clear incentive rules to avoid overlapping

If an enterprise falls under multiple incentive categories, it has the right to choose the most favorable one.
In cases where preferential provisions exist under specialized laws, the 2025 CIT Law will take precedence, except for specially regulated circumstances.

4. Loss carry-forward and Science & Technology Development Fund

Enterprises are allowed to carry forward losses continuously for up to 5 years.
They may allocate up to 20% of annual taxable income to establish a Science & Technology Development Fund, provided it is used for the correct purposes.

To explore how our consulting team can help you secure and optimize CIT incentives effectively, visit our dedicated Tax Consulting Service page for more details.

Explore Tax Consulting Services

III. Common Mistakes and How to Avoid – Plus Profit Optimization

Even with the best intentions, many businesses still miss out on their tax incentive benefits due to simple yet costly mistakes. Below are the most common pitfalls and how to fix them effectively.

Late or incomplete applications: One of the most frequent issues arises from delayed or missing documentation.
How to avoid: Ensure all required forms and supporting evidence are submitted before your project begins generating income to maintain eligibility.
Ignoring Permanent Establishment (PE) rules: With the 2025 update redefining PE status, overlooking this change can lead to unexpected tax liabilities.
How to avoid: Reassess your operational and contractual structure under the new PE definition to avoid misclassification.
Overlooking Double Taxation Treaties (DTT): Many foreign investors fail to leverage DTT benefits, leading to duplicate tax payments.
How to avoid: Coordinate early with professional consultants to utilize DTT relief and minimize cross-border tax exposure.
Unclear bookkeeping and expense tracking: Incomplete financial records can weaken your eligibility for incentives and invite compliance risks.
How to avoid: Implement digital accounting and reporting systems to ensure transparency and traceability.
No profit optimization strategy: Securing an incentive is only the first step, maximizing its impact requires strategic planning.
How to avoid: Partner with Vina TPT’s tax consultants to align your incentive structure with long-term financial goals and ROI optimization.

IV. What Should Businesses Prepare to Seize Opportunities from the 2025 CIT Law?

To stay ahead of regulatory changes and fully capitalize on new incentives, businesses must prepare proactively and strategically:

Review and assess impact: Conduct a detailed analysis of current financial performance, income, expenses, and business operations. Identify any necessary adjustments to comply with the new Corporate Income Tax (CIT) Law.
Understand eligibility criteria for incentives: Study the specific requirements for benefiting from the 2025 CIT incentives. Ensure your business meets all conditions before submitting any application.
Update accounting and financial systems: Make sure your accounting software and bookkeeping procedures comply with new regulations on revenue and expense recognition.
Train internal teams: Equip your finance and accounting personnel with updated knowledge through training sessions or specialized CIT 2025 courses.
Seek expert consultation: Engaging professional tax advisors is a smart move to avoid compliance risks and legally optimize your tax obligations.

Instead of navigating complex tax regulations on your own, you can connect directly with VINA TPT – trusted partner specializing in tax, accounting, and financial consulting ready to support your business in maximizing benefits under the 2025 CIT Law.

Conclusion

Tax incentives in Vietnam are more than just government policy, they’re a strategic growth lever for businesses preparing to thrive in the 2025 landscape.

Key takeaways:

Vietnam offers preferential CIT rates of 10 – 17% for up to 30 years.
Incentives now extend to green, digital, and financial sectors.
Compliance and timing remain critical to securing approval.

V. Why Partnering with Vina TPT Is the Most Effective Way to Leverage Tax Incentives?

The 2025 CIT incentives offer substantial opportunities to reduce tax burdens and enhance profits, but leveraging them effectively isn’t always simple. Businesses must interpret complex eligibility criteria, prepare accurate documentation, and meet strict compliance deadlines. Without expert guidance, it’s easy to miss optimal incentive schemes or face regulatory risks. That’s why partnering with a professional tax consulting firm becomes a strategic advantage.

Vina TPT Tax Service is a trusted advisor to hundreds of FDI and domestic enterprises, including manufacturing, technology, and service companies across Vietnam. Our team consists of senior tax consultants and legal experts with over 15 years of experience in tax planning, accounting compliance, and investment incentives.

We provide end-to-end support, including:

Assessing eligibility for tax incentives under the 2025 CIT Law
Structuring incentive applications for maximum tax savings
Preparing and submitting exemption/reduction dossiers
Designing long-term tax strategies aligned with business growth objectives
Conducting compliance audits and managing tax risks

With Vina TPT Tax Service, businesses are not only compliant but also positioned to optimize costs and secure sustainable profitability through legally maximized tax benefits.

Contact Vina TPT today and ensure your business fully capitalizes on Vietnam’s 2025 tax incentive opportunities.

Contact Vina TPT for Consultation

Accounting & Tax, Lasted News

Vietnam Accounting & Tax Services for Japanese Investors

Posted on 03/10/202506/04/2026 by ASS

1. The Need to Hire Accounting Service for Japanese Investors in Vietnam

Vietnam is emerging as one of the top investment destinations in Asia, attracting more and more Japanese businesses looking for new growth opportunities. However, differences in laws, accounting standards and business environments make hiring accounting services a strategic factor to ensure success right from the start.

For Japanese companies, cooperating with a reputable Vietnamese accounting service unit not only helps with daily financial management but also ensures Vietnam accounting compliance for Japanese business, meets the reporting requirements of the parent company and complies with strict regulations in Vietnam. Hiring Vina TPT accounting service helps investors reduce administrative burden, limit errors in tax declarations, and build a transparent accounting system, supporting the long-term business expansion process.

2. Common Financial Challenges for Japanese Businesses

When operating in Vietnam, Japanese businesses often encounter some unique difficulties related to Vietnam accounting compliance for Japanese businesses, including:

Different accounting standards: Vietnamese Accounting Standards (VAS) differ significantly from Japanese GAAP and IFRS, requiring accurate and continuous conversion of financial statements.
Cash flow and foreign currency management: Exchange rate fluctuations and foreign exchange regulations can affect cash flow, especially for companies that import or transact internationally.
Diverse tax requirements: Businesses need to comply with many types of taxes such as Corporate Income Tax (CIT), Value Added Tax (VAT), Foreign Contractor Tax, Personal Income Tax (PIT), as well as social and health insurance.
Parallel reporting system: Many companies must simultaneously meet reporting requirements of Vietnam and Japan, resulting in a large amount of accounting and auditing work.

These challenges not only increase the internal workload but also require the support of a highly qualified Vina TPT accounting service partner to help businesses operate financially stably and legally.

BRIDGE JAPAN-VIETNAM ACCOUNTING STANDARDS

3. Essential Services to Hire for Smooth Operations

To overcome barriers and ensure compliance, Japanese investors should hire an accounting service that provides a comprehensive and in-depth service package. Some important services include:

Bookkeeping & General Accounting: Standard accounting bookkeeping, invoice management, processing daily transaction documents to ensure accuracy and transparency.
Financial Reporting & Conversion: Prepare financial statements according to VAS standards and convert to Japanese GAAP or IFRS for auditing, consolidate reports for parent companies in Japan.
Tax Filing & Compliance Service: Support periodic tax declaration, submit CIT, VAT, PIT, social insurance and other tax obligations on time, helping to avoid late payment penalties.
Payroll & HR Accounting: Manage payroll, personal income tax and insurance for employees, ensuring compliance with Vietnamese labor laws.
Audit Preparation & Internal Control: Establishing an internal control system and preparing documents for independent audits, helping businesses prepare for any financial audit or assessment.

With the above services, Vina TPT accounting service helps Japanese businesses not only comply with Vietnam accounting compliance for Japanese business, but also optimize costs and improve long-term financial management efficiency.

4. Ensuring Compliance with Vietnamese Standards and Japanese Reporting Requirements

For Japanese companies operating in Vietnam, dual compliance is not only a legal requirement but also a key factor in maintaining the trust of shareholders and parent companies. Enterprises need to ensure Vietnam accounting compliance for Japanese business, while also meeting international reporting standards such as Japanese GAAP, IFRS or the group’s consolidated standards. This process includes preparing consolidated financial statements, converting reports from VAS (Vietnamese Accounting Standards) to international standards, reconciling internal data, and closely managing multidimensional financial indicators.

Performing these dual requirements yourself requires in-depth knowledge, time and experienced personnel, so hiring a professional accounting service is the optimal solution. A reputable unit like Vina TPT accounting service will provide a complete accounting service Vietnam, support the preparation of bilingual financial reports (Vietnamese – Japanese/English), control input data, and standardize the accounting system to easily serve both the Vietnamese tax authorities and the parent company in Japan.

By combining tax compliance, financial reporting, and business accounting Vietnam in one comprehensive service, Vina TPT helps businesses minimize the risk of errors, optimize the inspection process, and ensure all reports are transparent, accurate, and timely. This is the strategic solution for Japanese businesses in Vietnam to maintain sustainable growth, strengthen their reputation in both markets, and enhance their ability to expand in the future.

5. Vina TPT’s Advantage for Japanese Investors

Vina TPT stands out in the Vietnamese accounting service market thanks to its team of Japanese-Vietnamese bilingual experts and in-depth knowledge of Vietnam accounting compliance for Japanese business. The accompaniment of Lawyer Le Quoc Duy, a legal expert who can communicate directly in Japanese, helps all legal and financial procedures to be implemented quickly, accurately and in accordance with Japanese corporate culture.

Outstanding strengths of Vina TPT accounting service:

Bilingual Expertise: Support communication, reporting and financial analysis in both Japanese and Vietnamese.
Tailored Accounting Solutions: Provide flexible services from bookkeeping, tax filing to financial advisory, suitable for the needs of each type of investment.
Regulatory Insights: Always update Vietnamese tax regulations and accounting standards, helping Japanese enterprises maintain Vietnam accounting compliance for Japanese business in a sustainable way.
Strategic Financial Planning: Support financial planning, optimize capital structure and prepare for international audits.

Download Vietnam Tax Handbook - Japanese Edition

6. Steps to Engage the Right Accounting Service in Vietnam

To choose the most suitable and effective hire accounting service, Japanese investors can follow these steps:

Determine specific needs: Evaluate business scale, reporting requirements, accounting standard conversion needs and level of support from partners.
Evaluate experience and expertise: Choose a partner with professional certification and experience providing accounting services in Vietnam for Japanese businesses.
Compare costs and scope of services: Ensure transparent fees, suitable for budget, and include important services such as bookkeeping, tax filing and compliance.
Sign the contract and implement the service: Clearly define responsibilities, reporting deadlines and information exchange methods to optimize cooperation efficiency.

With extensive experience and comprehensive services, Vina TPT accounting service is the ideal choice to ensure Vietnam accounting compliance for Japanese business, helping Japanese businesses develop sustainably in Vietnam.

Hire Vina TPT accounting service today to ensure Vietnam accounting compliance for Japanese business and fully meet Japanese reporting requirements.

BOOK A FREE CONSULTATION

Accounting & Tax, Finance & Accounting Knowledge, Lasted News

Mastering Internal Accounting Skills for FDI Companies in Vietnam

Posted on 12/09/202526/03/2026 by ASS

1. Why FDI Companies Struggle with Internal Accounting in Vietnam

Foreign Direct Investment (FDI) companies bring international expertise, modern technologies, and capital into Vietnam. However, when it comes to internal accounting and the accounting skills required to meet both local and international standards, many enterprises find themselves navigating an unfamiliar landscape. The root causes of these struggles can be categorized into three main areas.

1.1 Differences in Accounting Standards

One of the biggest challenges is the gap between Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS). While IFRS emphasizes transparency and fair value measurement, VAS is more rules-based and focuses on historical cost. This difference often creates confusion for multinational finance teams that are accustomed to global practices. Companies operating across multiple jurisdictions often need dual reporting systems, which increases complexity and cost.

1.2 Regulatory Complexity and Compliance Burden

Vietnamese tax regulations are subject to frequent updates. Circulars and decrees from the Ministry of Finance may significantly alter reporting requirements. For Foreign-invested enterprises, keeping up with these changes while ensuring compliance is resource-intensive. This is particularly critical since any misstep in compliance can lead to financial penalties and reputational risks.

1.3 Talent Gaps in Internal Accounting Teams

Despite Vietnam’s growing talent pool, there remains a shortage of accountants who are equally proficient in both local standards and international practices. Many internal teams lack the experience to handle cross-border transactions, intercompany reconciliations, and transfer pricing documentation. This talent gap makes it difficult for Foreign-invested enterprises firms to establish strong internal accounting functions.

Optimize Your Accounting Today

2. Building a Solid Foundation of Local Accounting Knowledge

For FDI businesses, success begins with a deep understanding of local accounting practices. Internal teams must not only learn the technical aspects of VAS but also grasp the cultural and operational nuances of doing business in Vietnam.

2.1 Mastering Vietnamese Accounting Standards

FDI companies should prioritize training sessions for their accounting staff to build expertise in VAS. This includes familiarity with chart of accounts, revenue recognition methods, and local expense allocation rules. By mastering VAS, internal teams can reduce reporting errors and create a solid bridge to IFRS-based reporting.

2.2 Understanding Local Taxation Principles

Knowledge of Vietnam’s tax system is equally essential. From corporate income tax (CIT) and value-added tax (VAT) to personal income tax (PIT), each element requires careful management. Internal accountants who are well-versed in these principles can optimize tax planning strategies while ensuring compliance with regulations published by the General Department of Taxation.

3. Essential Skills to Manage Complex FDI Transactions

The complexity of Foreign Direct Investment operations demands specialized skills in managing cross-border and multi-currency transactions. Internal accounting teams must go beyond bookkeeping and become strategic partners in financial management.

3.1 Transfer Pricing Management

Transfer pricing is one of the most sensitive areas in Foreign Direct Investment accounting. Internal teams must be capable of preparing proper transfer pricing documentation and benchmarking studies, ensuring compliance with Decree 132/2020/ND-CP. Failure to meet requirements could result in significant fines or tax adjustments.

3.2 Multi-Currency and Intercompany Transactions

Enterprises often deal with transactions in multiple currencies, requiring skills in foreign exchange management and consolidation. Internal accountants need to understand how currency fluctuations impact both profit margins and tax liabilities. Case studies from companies like Intel Vietnam highlight how effective foreign currency management safeguards profits in volatile markets.

3.3 Advanced Financial Reporting

Internal accounting teams should also be trained to prepare consolidated financial statements that align both with VAS and IFRS. This skill enables management to make informed decisions while also meeting reporting obligations in home countries.

4. Strengthening Internal Controls While Ensuring Compliance

Strong internal controls are the backbone of reliable financial management. For Foreign Direct Investment companies, this means establishing processes that prevent fraud, reduce errors, and guarantee compliance.

4.1 Risk-Based Internal Audits

An effective internal audit function ensures that accounting records are accurate and compliant. Internal teams must develop auditing skills that go beyond formality, focusing on risk-based audits that highlight vulnerabilities in financial processes.

4.2 Compliance with Local and International Regulations

Internal accountants must be trained to monitor compliance with both Vietnamese laws and international frameworks such as the OECD transfer pricing guidelines. According to the OECD, aligning local practices with global standards helps multinational corporations mitigate risks and maintain investor confidence.

4.3 Technology-Enabled Controls

Implementing enterprise resource planning (ERP) systems strengthens internal controls by automating reconciliations and approvals. Companies like Samsung Vietnam have successfully deployed SAP ERP to streamline compliance reporting and reduce manual errors.

Book Expert Guidance

5. Preparing Accounting Teams for Future Growth

As Vietnam continues to attract large-scale FDI projects, internal accounting skills must evolve to meet future demands.

5.1 Continuous Professional Development

Foreign-invested enterprises should encourage their internal accounting staff to pursue certifications such as CPA Vietnam, ACCA, or CMA. These qualifications equip accountants with the knowledge to manage increasingly complex operations.

5.2 Building Multidisciplinary Teams

The future of FDI accounting will require collaboration between finance, legal, and operational experts. Internal accountants must be capable of working cross-functionally, ensuring financial decisions align with overall business strategies.

5.3 Anticipating Regulatory Shifts

Vietnam is preparing for gradual convergence with IFRS, expected to become mandatory in coming years. Internal teams that prepare early for this transition will ensure smoother adaptation and minimize disruption.

6. Turning Internal Accounting Skills into Value with Vina TPT

While building internal accounting skills is essential, many companies still need external guidance to accelerate the process. This is where Vina TPT’s internal accounting services provide a competitive advantage.

With decades of experience serving Foreign Direct Investment enterprises, Vina TPT offers:

Training programs that strengthen internal accounting capabilities.
Advisory on VAS-IFRS convergence and compliance.
Tailored solutions for transfer pricing, internal audits, and financial reporting.

By partnering with Vina TPT, Foreign Direct Investment companies transform internal accounting from a compliance burden into a strategic driver of growth. This partnership ensures that internal teams are not only capable of managing current challenges but are also prepared for the evolving financial landscape in Vietnam.