CIRCULAR NO.99/2025/TT-BTC – KEY ACCOUNTING CHANGES EFFECTIVE FROM 2026
OVERVIEW
On October 27, 2025,the Ministry of Finance (MOF) officially issued Circular No.99/2025/TT-BTC, effective January 1, 2026, replacing Circular200/2014/TT-BTC — the framework that has guided enterprise accountingpractices in Vietnam for more than 11 years.
Unlike previousincremental revisions, Circular 99 introduces a comprehensive overhaul,serving as a stepping stone for Vietnam’s transition toward the VietnamFinancial Reporting Standards (VFRS) and International FinancialReporting Standards (IFRS) during 2026–2030.
The changes are notmerely technical; they represent a modernization of the accounting, management,and financial reporting framework across enterprises.
KEY CHANGES
1. Scope andApplicability
Scope of regulation: Provides guidance on accounting vouchers, the chart of accounts, bookkeeping, and the preparation and presentation of financial statements (FS); tax obligations continue to comply with tax laws → Article 1.
Applicability: Applies to all enterprises across all economic sectors, including credit institutions and foreign bank branches under the guidance of the State Bank of Vietnam (SBV) → Article 2.
Internal control & governance: Enterprises are required to establish internal control and governance policies that clearly define responsibilities and ensure compliance → Article 3.
Default accounting currency: Vietnam Dong (VND). Enterprises may choose a foreign currency if it primarily influences their sales, costs, and financing activities → Article 4 (Clauses 1–4).
Currency changes: May only occur at the beginning of a new fiscal year, including conversion of balances and disclosure in the notes to FS → Article 5.
If accounting in foreign currency: FS submitted or publicly disclosed in Vietnam must still be presented in VND, applying the following conversion rules:
Assets/liabilities → closing exchange rate;
Equity → actual transaction rate;
Exchange differences → recorded in “Foreign Exchange Differences Reserve” → Article 6.
3. Branches &Internal Consolidation
Enterprises may delegate accounting responsibilities to dependent units, including capital recognition, internal revenue and cost allocation, etc. → Article 7 Clause 3(a).
Regardless of decentralization, the statutory FS must consolidate financial data from both the head office and dependent units → Article 7 Clause 3(b).
General principle: Vouchers must comply with the Law on Accounting and accurately reflect transactions → Article 8.
Voucher templates: Refer to Appendix I. Enterprises may design customized templates but must issue an Internal Accounting Regulation and comply with Article 16 of the Law on Accounting → Article 9.
Preparation – authorization – control:
Each economic transaction must have only one voucher, signed according to delegated authority → Article 10 Clauses 1–3.
The Chief Accountant (or authorized person) may not sign “by proxy” for management or executive positions on accounting vouchers unless otherwise permitted by law → Article 10 Clause 4.
5. Chart of Accounts – Flexibilitywith Strict Accountability
Chart of Accounts: Implemented per Appendix II of Circular 99 → Article 11 Clause 1.
Enterprises may rename, renumber, or adjust the structure and content of accounts to fit operational characteristics, provided these changes do not distort FS line items; any modification must be defined in a formal Internal Accounting Regulation → Article 11 Clauses 2–3.
Account 244: changed to “Deposits and Guarantees”.
Account 242: changed to “Deferred Expenses”.
6. Accounting Books –Forms and Operation
Must comply with the Law on Accounting and refer to Appendix III (Book Templates). Enterprises may customize but must maintain an approved policy for book storage and internal authorization → Article 12.
Book opening – recording – closing:
Open books at the beginning of the fiscal period (or upon establishment);
Record transactions timely, legibly, and completely;
Close books at period-end to prepare FS → Article 13 (Clauses 1–3).
7. Financial Statements– Purpose, Frequency & Additional Disclosures
Purpose: Provide information on assets, liabilities, equity, revenues, expenses, profit, and cash flows for economic decision-making → Article 14 Clause 1.
Frequency: Includes annual and interim FS (quarterly or semi-annual).
Templates are listed in Appendix IV (e.g., Forms B01-DN, B02-DN, B03-DN, etc.) → Article 14 & Appendix IV.
Adding new line items: Enterprises may add custom indicators reflecting business specifics, provided they are properly explained and do not alter original codes → Article 18.
8. Effective Date &Transition
Effective date:January 1, 2026, applicable to fiscal years beginning on or after this date.
Circular 99/2025/TT-BTC fully replaces Circular 200/2014/TT-BTC and related amendments → Article 31.
ACTION CHECKLIST
✅Review accounting currency (Articles 4–6): Assess criteria for selectinga foreign currency; if adopted, execute balance conversion and FS adjustment atthe start of the new fiscal year. ✅ Standardize voucherauthorization (Article 10): Eliminate improper “proxy signing”; issue orupdate the Internal Accounting Regulation.
✅Update accounting books (Articles 12–13 + Appendix III): Redesign booktemplates and workflows for opening–recording–closing; establish a digitalarchiving policy.
✅Apply new FS templates (Articles 14 & 18 + Appendix IV): Pilot FSpreparation using new templates; explain any added indicators clearly in notes.
✅Implementation roadmap: Close FY2025 books and open FY2026under Circular 99; train accounting staff and upgrade accounting softwarebefore January 1, 2026.
IMPLICATIONS
Circular 99/2025/TT-BTC introduces a majormodernization in Vietnam’s enterprise accounting and reporting framework.
From a businessperspective, it brings both benefits and responsibilities:
Strengthens alignment with global accounting practices, enhancing transparency and comparability for investors and regulators.
Provides greater flexibility in selecting accounting currencies, designing internal control systems, and adapting chart-of-account structures.
Requires timely preparation — including system configuration, ERP updates, and personnel training — to ensure compliance from the beginning of FY2026.
For enterprises with internationaloperations, export-import activities, or financial investments, theseupdates will create a clearer reporting framework and strongercontrol over cross-border transactions.
Early preparation willallow organizations to manage the transition efficiently, avoidreporting inconsistencies, and strengthen overall financial managementcapacity.
CONCLUSION
Circular 99/2025/TT-BTC marks a pivotal step inthe modernization of Vietnam’s accounting framework. It encourages enterprisesto adopt a more structured, transparent, and technology-driven approach tofinancial management and reporting.
Organizations that proactivelyprepare — by updating internal regulations, adjusting systems, andupskilling accounting teams — will not only ensure compliance but also enhanceoperational efficiency and data reliability under the new standards.
👉Recommended next steps:
Review current accounting policies and internal control procedures.
Develop an implementation plan for system and reporting adjustments.
Coordinate with auditors, ERP vendors, and training providers to ensure readiness for 2026.
By acting early,enterprises can ensure a seamless and compliant transition to the newaccounting standards, reinforcing transparency, governance, andsustainable growth.
If you have any accounting, tax, compliance, or financial management–related questions in the course of investing, operating, or expanding your business in Vietnam, you are welcome to contact Mr. Wu through the Global Frontier1 platform for professional consultation.The platform will facilitate direct engagement with qualified professionals who possess local practicing credentials and cross-border experience, providing scenario-based insights and practical recommendations to help enterprises mitigate compliance risks and enhance financial management and decision-making efficiency.
글로벌 회계기준과의 정합성을 강화하여 투자자 및 규제당국에 대한 투명성과 비교가능성을 제고함.
회계통화 선택, 내부통제시스템 설계, 계정과목 체계 조정 등에 있어 기업의 유연성을 확대함.
2026 회계연도 시작 시점부터 규정 준수를 보장하기 위해 시스템 설정, ERP 업데이트, 인력 교육 등 사전 준비가 필수적임.
국제 사업, 수출입활동또는금융투자를 수행하는기업의경우,이번개정은보다명확한보고체계와 강화된국경간거래관리체계를 구축하는데도움이될것입니다.
조기에 준비를 시작하면조직은전환과정을효율적으로관리하고, 보고상의불일치를방지하며,전반적인재무관리역량을강화할수있습니다.
결론
제99/2025/TT-BTC호 공문은 베트남 회계 제도의 현대화를 위한 중대한 전환점을 의미합니다. 이 공문은 기업들이 보다 체계적이고 투명하며 기술 중심적인 재무 관리 및 보고 방식을 도입하도록 장려하고 있습니다.
내부 규정을 정비하고,시스템을조정하며,회계인력의역량을강화하는등선제적으로준비하는기업은새로운기준에대한준수뿐만아니라운영효율성과데이터신뢰성또한향상시킬수있을것입니다.
👉 권장후속조치:
현재의 회계정책과 내부통제 절차를 검토해야 함.
시스템 및 보고 조정에 대한 이행 계획을 수립해야 함.
감사인, ERP 공급업체, 교육기관과 협력하여 2026년 시행에 대비해야함.
조기에 대응함으로써 기업은새로운회계기준으로의전환을원활하고적법하게진행할 수있으며,투명성·거버넌스·지속가능한 성장을 강화할수있습니다.
베트남 투자, 운영 또는 해외 진출 과정에서 회계·세무·컴플라이언스·재무 관리와 관련된 문의 사항이 있으신 경우, Global Frontier1 플랫폼을 통해 우(吴) 컨설턴트에게 전문 상담을 요청하실 수 있습니다. 본 플랫폼은 현지 자격과 크로스보더 실무 경험을 갖춘 전문가와의 연결을 지원하며, 구체적인 비즈니스 상황에 기반한 분석과 실질적인 자문을 통해 기업의 컴플라이언스 리스크를 최소화하고 재무 관리 및 의사결정 역량 강화를 돕습니다.
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