2026: Businesses Face a Major Wave of Changes in Accounting and Tax

While businesses previously only needed to focus on paying taxes on time and preparing year-end financial statements, 2026 marks one of the periods with the most extensive changes to accounting and tax policies in Vietnam.

In less than a year, a series of new regulations have been issued or taken effect, directly impacting how businesses recognize accounting entries, declare taxes, issue invoices, and manage financial records.

Key notable changes include:

1. New Enterprise Accounting Regime under Circular 99/2025/TT-BTC

This is considered the most significant shift in the accounting field in over a decade, as Circular 99 officially replaces Circular 200/2014/TT-BTC.
Prominent updates include:

• Adjusted chart of accounts;
• Addition and amendment of numerous accounting accounts;
• Changes to financial statement templates;
• Changes to accounting books and voucher forms;
• Requirements for businesses to review their accounting entry procedures and financial reporting.

For many enterprises, this transition is not merely a matter of updating forms; it directly impacts ERP systems, accounting software, and management reporting workflows.

2. The 2025 Tax Administration Law and E-Tax Management Updates

Tax authorities are shifting strongly toward a data-driven model based on taxpayer risk levels.
Areas drawing particular concern from businesses include:

• Taxpayer risk classification;
• Intensified electronic tax audits;
• Expanded oversight through e-invoice data;
• Revised regulations on supplementary tax returns;
• Changes to certain tax refund and finalization procedures.

This requires businesses to maintain a far more complete and consistent system of accounting and tax documentation than before.

3. New E-Invoicing Regulations

E-invoicing is no longer just about "issuing compliant invoices"; it has evolved into a key tax risk management tool for state authorities.
Businesses must pay special attention to:

• Procedures for invoice adjustments and replacements;
• Reconciling invoiced revenue against tax declarations;
• Monitoring e-commerce transactions;
• Managing input and output invoices for tax refund purposes.

4. Increasing Audit Requirements for Large Enterprises

Many private enterprises that were previously not subject to mandatory audits must now prepare for new financial audit requirements.
This makes document archiving, accounting standardization, and internal control more urgent than ever.

5. Financial Governance and ESG Trends

Beyond compliance, exporters, FDI enterprises, and companies seeking capital are facing growing pressure regarding:

• ESG reporting;
• Greenhouse gas (GHG) inventorying;
• Financial data transparency;
• Accounting data traceability to support sustainability reporting.

From the new accounting regime and e-tax management updates to e-invoicing and heightened expectations for financial transparency, auditing, and corporate governance, compliance pressures on businesses are rising substantially.

In this environment, accounting is no longer confined to recording transactions or meeting tax obligations. A well-structured accounting system helps businesses mitigate risks, improve management reporting quality, support decision-making, and build a solid foundation for growth.

Based on our experience working across various industries, we observe that sustainable enterprises are rarely those with "zero issues"—rather, they are the ones that proactively identify and handle risks before problems escalate. This is especially true for accounting and tax, where a minor error today can lead to significant future costs.

As businesses increasingly need to focus resources on core operations, outsourcing accounting functions is becoming a strategic choice for many. Beyond ensuring regulatory compliance, this model enables companies to leverage experienced specialists, adopt best practices in financial management, and maintain an accounting framework tailored to their scale of growth at each stage.

Ultimately, accounting serves a purpose far beyond satisfying regulatory authorities. An effective accounting system provides leadership teams with transparency, control, and confidence when making critical business decisions. That remains the very cornerstone for building a sustainable business, attracting investors, and seizing future growth opportunities.

"An effective accounting system not only keeps a business compliant but also builds the foundation for sustainable growth."