So, you have successfully registered your business in Vietnam – congratulations. Now comes the phase that decides whether the company runs smoothly or accumulates penalties: meeting your annual legal and financial obligations. Whether you are an SME, a startup, or an expanding foreign business, this checklist covers the recurring filings every foreign-owned company must handle, updated for the rules in force through 2027.
Two structural changes sit behind much of this checklist. The two-tier local government model that took effect on July 1, 2025 moved several filings to provincial departments and online portals, and the tax reforms of 2025-2026 changed rates and deadlines you may have budgeted for. Use this as your working calendar, and confirm the exact provincial recipient for each filing when you prepare it.
1. Annual Financial Audit and Reporting in Vietnam
For foreign-invested enterprises (FIEs), annual financial reporting and statutory audit is the anchor obligation. All foreign-invested companies must submit audited financial statements every year.
Reports must follow Vietnam Accounting Standards (VAS), which differ from IFRS in classification and presentation. Since January 1, 2026, the enterprise accounting regime itself has been governed by Circular No. 99/2025/TT-BTC (which replaced Circular No. 200/2014/TT-BTC), so templates and disclosure notes need to follow the current circular. IFRS reporting is not yet mandatory for statutory accounts – the Ministry of Finance’s roadmap (Decision No. 345/QD-TTg, 2023) starts with voluntary adoption – but many head offices ask for IFRS figures alongside VAS. Have your accounting team or local auditors review the reports before filing.
The submission deadline is 90 days after fiscal year-end – typically March 31 for a December 31 year-end. If your business sits in an export processing zone or high-tech park, zone management boards may require additional submissions.
Financial Statements Required when reporting in Vietnam:
- Statement of Income – Summary of revenues, expenses, and profits/losses
- Statement of Financial Position (Balance Sheet) – Snapshot of assets, liabilities, and equity
- Statement of Changes in Equity – (If applicable) Changes in ownership interest
- Statement of Cash Flows – Movement of cash during the fiscal year
- Notes to the Financial Statements – Detailed breakdowns and accounting assumptions
Who Must You Submit to?
- The provincial business registration authority
- Provincial Tax Department
- Provincial Statistical Office
- Other relevant agencies (e.g., line ministries for regulated sectors)
Note that the two-tier reform renamed and reallocated several of these recipients, so verify the current list for your province rather than relying on pre-2025 filing addresses.
Need a Chief Accountant? Do you even need a Chief Accountant? Read our guide to the critical role of Chief Accountants in Vietnam
2. Corporate and Personal Income Tax Finalization
Every year, companies must finalize their Corporate Income Tax (CIT) and Personal Income Tax (PIT) obligations for the prior year. The deadline for both is within 90 days after the fiscal year ends – usually March 31.
Corporate Income Tax (CIT):
- The standard CIT rate is 20%. Under the new Corporate Income Tax Law No. 67/2025/QH15 (applicable from the 2025 tax period), micro-enterprises with annual revenue up to VND 3 billion pay 15%, and small enterprises with revenue of VND 3-50 billion pay 17%
- For the 2026 and 2027 tax periods, Resolution No. 43/2026/QH16 and Decree No. 398/2026/ND-CP cut CIT payable by 30% for enterprises with annual revenue up to VND 10 billion (calculated after other incentives)
- Reconcile provisional quarterly CIT payments against the actual annual figure, and expect scrutiny or late-payment interest where finalization is delayed
Personal Income Tax (PIT):
- Companies withhold and declare PIT on behalf of their employees
- Annual PIT finalization covers all staff, local and foreign, and resident individuals with business income below the VND 10 billion revenue threshold receive the same 30% reduction for 2026-2027
- The Personal Income Tax Law No. 109/2025/QH15, effective July 1, 2026, consolidated the progressive schedule into five brackets (5%-35%) and raised family circumstance deductions to VND 15.5 million per month for the taxpayer and VND 6.2 million per dependant – payroll configurations must reflect this
Value-added Tax (VAT):
Vietnam does not apply a Goods and Services Tax (GST); it runs a Value-Added Tax system that businesses self-assess and declare monthly or quarterly depending on annual revenue. Current key VAT rates:
- Standard Rate: 10% – reduced to 8% for most goods and services from July 1, 2025 through December 31, 2026 under the latest regulations. Unless a new National Assembly resolution extends it, the rate returns to 10% on January 1, 2027 – build 2027 budgets accordingly
- Reduced Rate: 5% (applies to essential goods and services such as agricultural products or medical equipment)
- Zero Rate: 0% (for exported goods and services that meet eligibility criteria)
Accurate VAT reporting – covering input and output tax – is essential for compliance and refunds. Many foreign businesses work with local accountants or a bookkeeping service familiar with both cross-border and domestic VAT obligations.
Need a guide to other taxes for foreign entrepreneurs in Vietnam? We cover them in our post on Taxation and Accounting.
3. Business License Tax (BLT)
The Business License Tax, or “thuế môn bài” in Vietnamese, is a fixed annual fee paid to the local tax authority. The amount depends on your company’s charter capital.
Simplified Tax Details:
- Companies with charter capital up to VND 10 billion: VND 2 million per year
- Companies with charter capital above VND 10 billion: VND 3 million per year
- Payment deadline: January 30 each year
- If you have just completed your business setup, you are exempt from BLT for the first calendar year of registration; payment resumes from the second year
4. Labor and Social Insurance Compliance in Vietnam
Labor compliance protects you legally and keeps your standing as an employer. It covers local and foreign employees alike, including staff under work permits. Key requirements:
- Keep a labor management book and declare labor use on Form 01/PLI. Since July 2025 these declarations go to the provincial Department of Home Affairs via the National Public Service Portal (an arrangement that runs through February 28, 2027 under Decree No. 129/2025/ND-CP)
- Labor contracts must follow Vietnamese labor law templates
- Report changes in staff promptly
Since July 1, 2025, local employees on fixed-term contracts of one month or more (probationary contracts excepted) must participate in compulsory social insurance, including social, health and unemployment insurance (the last for local workers only). Contribution rates differ slightly between local and foreign employees, with employee portions withheld from salary.
Accurate calculation and submission are the responsibility of your chief accountant or payroll provider. Labor registration mistakes draw fines – up to VND 20 million for an organization under Decree No. 12/2022/ND-CP for failing to report labor changes – and can undermine work permit validity for foreign employees.
Deadlines for labor reporting:
- Biannual labor usage reports (Form 01/PLI): before June 5 and before December 5
- Quarterly foreign labor reports: required if you employ foreigners
More questions about Social Insurance in Vietnam?
5. Foreign Direct Investment (FDI) Reporting
All foreign-owned companies must submit investment monitoring reports tracking capital flows and business performance. Under Decree No. 96/2026/ND-CP guiding the Law on Investment No. 143/2025/QH15, the periodic report deadlines are:
- Quarterly Report: before the 10th of the month following each quarter
- Semi-Annual Report: before July 10
- Annual Report: before February 10 of the following year
Common Mistakes:
- Failing to update changes in charter capital
- Omitting information about overseas shareholders
- Missing deadlines due to lack of calendar tracking
These filings keep your investment registration in good standing and avoid problems with profit repatriation or new investment rounds. Reports are submitted through the national investment information system using a digital signature.
6. Bookkeeping and Record Keeping in Vietnam
Proper bookkeeping is a legal obligation, not just good practice. Businesses must maintain detailed records and stay audit-ready at any time. Since January 1, 2026 the enterprise accounting regime follows Circular No. 99/2025/TT-BTC (replacing Circular No. 200/2014/TT-BTC), while micro-enterprises can use the simplified regime under Circular No. 58/2026/TT-BTC.
What You Need to Maintain:
- Cashbooks
- Invoices and Vouchers
- Payroll and Salary Slips
- Bank Reconciliation Reports
- Fixed Asset Registers
- Inventory and Stock Reports
Retention periods follow the Accounting Law: accounting vouchers and books must be kept for at least 10 years, documents used only for internal management for at least 5 years, and certain records permanently – stored physically or electronically. Regular internal reviews, with periodic help from an accounting or advisory provider, reduce the risk of discrepancies.
Compliance Tip:
If your business uses international accounting systems (e.g., SAP, Xero, QuickBooks), make sure they are configured for the current Vietnamese regime – or work with a provider that offers dual reporting in VAS and IFRS formats.
Why Compliance Is Crucial for Foreign Businesses
Missing annual obligations carries real consequences:
- Administrative fines
- Suspension of business activities
- Inability to remit profits or increase capital
- Legal exposure for company directors and chief accountants
Proactive compliance pays for itself:
- Improved operational transparency
- Faster tax refunds and approvals
- Greater investor and partner confidence
- Eligibility for incentives (e.g., in special economic zones)
Final Words: Plan Ahead and Stay Proactive
Running a business in Vietnam takes more than knowing the market. Compliance is a year-round calendar, not a scramble before tax deadlines – and between the two-tier government restructure, the new tax laws and the VAT rate change at the end of 2026, the 2027 calendar has more moving parts than usual.
If you want the peace of mind that everything is in order, work with a business advisory firm that knows the local landscape and supports foreign investors and SMEs day to day.
Need help managing your compliance calendar? Book a free consultation with our experts and get tailored guidance for your company’s obligations in Vietnam.
