Vietnam's business environment continues to evolve as new accounting regulations and tax requirements reshape the way companies manage their finances. With the introduction of Circular 58/2026/TT-BTC, effective from 1 July 2026, micro-enterprises must adapt to updated accounting rules while ensuring compliance with changing tax and reporting obligations. At the same time, larger businesses are also looking beyond compliance by improving financial visibility, strengthening internal controls, and making faster strategic decisions.

1. Accounting Guidelines for Micro-Enterprises

The Minister of Finance has issued Circular 58/2026/TT-BTC dated May 25, 2026, guiding the accounting regime for micro-enterprises, effective from July 1, 2026, and applicable to fiscal years beginning on or after July 1, 2026.

Accordingly, the guidelines for applying the accounting regime for micro-enterprises are as follows:

• Micro-enterprises shall, based on the method of paying Value Added Tax (VAT) and Corporate Income Tax (CIT) as stipulated in the VAT and CIT laws, record accounting entries in one of the cases specified in Articles 5, 6, 7, and 8 of Circular 58/2026/TT-BTC and prepare financial statements according to the guidelines in Article 10 of Circular 58/2026/TT-BTC.
• In cases where micro-enterprises change their VAT and corporate income tax payment methods according to tax laws, they shall apply the accounting ledger list guided in Circular 58/2026/TT-BTC that is consistent with the enterprise's tax payment method.
• If, during the fiscal year, a micro-enterprise changes its criteria to the point where it no longer falls under the scope of Circular 58/2026/TT-BTC, it may apply Circular 58/2026/TT-BTC until the end of the current fiscal year and must apply an accounting system in accordance with the law from the following fiscal year onwards. 

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• Micro-enterprises may choose to apply the accounting system for small and medium-sized enterprises to suit their production and business characteristics and management requirements, but must apply it consistently within a fiscal year. Changes to the applied accounting system can only be made on the beginning of the next fiscal year.
• In cases where business households or individual businesses choose to apply the accounting system according to Circular 58/2026/TT-BTC, they must apply it consistently throughout a fiscal year. Changes to the applied accounting system can only be made on the first day of the following fiscal year.
• To suit the characteristics of their production and business activities and management requirements, micro-enterprises may design additional or modify accounting voucher forms and accounting books compared to the forms guided in Circular 58/2026/TT-BTC.

When modified or supplemented, the accounting voucher forms and accounting books of the enterprise must comply with the provisions of Article 16, Clauses 1, 2, 3, and 4 of Article 24 of the 2015 Accounting Law and must fully, promptly, truthfully, and transparently reflect the assets and capital of the enterprise for inspection, control, and verification. Businesses that generate accounting documents subject to regulation under other laws must comply with the provisions of those laws.

• In cases where micro-enterprises use electronic invoices and are supported by the tax authority's tax management information system in determining and notifying the amount of VAT, corporate income tax, and other taxes payable (if any), micro-enterprises shall use the accounting ledger forms guided in Circular 58/2026/TT-BTC to track and compare with the tax payable as notified by the tax authority.

2. Abolition of 9 administrative procedures in the field of accounting

The Ministry of Finance issued Decision 1293/QD-BTC dated May 28, 2026, on the announcement of administrative procedures that have been amended, supplemented, or abolished in the field of accounting and auditing within the scope of the Ministry of Finance's management functions, effective from July 1, 2026.

Accordingly, from July 1, 2026, nine central-level administrative procedures in the field of accounting and auditing will be abolished, specifically:

• Registration for the issuance of a Certificate of Registration for Accounting Services (new issuance)

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• Registration for the issuance of a Certificate of Registration for Accounting Services when the certificate expires; when the accountant changes their workplace or place of registration; - When changing the name of the accounting service business where the accountant is registered to practice:
• Registration for a Certificate of Registration for Accounting Services when the practicing accountant's Certificate of Registration for Accounting Services is revoked.
• Registration for re-issuance of a Certificate of Registration for Accounting Services.
• Registration for a Certificate of Eligibility to conduct accounting services for accounting service businesses in Vietnam (first issuance).
• Registration for a Certificate of Eligibility to conduct accounting services for branches of foreign accounting service businesses in Vietnam.
• Registration for re-issuance of a Certificate of Eligibility to conduct accounting services.
• Application for a Certificate of Eligibility to conduct cross-border accounting services in Vietnam for foreign accounting service businesses.
• Registration for the accountant certification exam (first registration).

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