A. ACCOUNTING (Enterprise)

1. New enterprise accounting system – Effective from January 1, 2026

Circular 99/2025/TT-BTC available from January 1, 2026 and applied to
fiscal year beginning on or after this date.

• Converting the accounting system, ledgers, documents, and financial statement forms according to Circular 99.
• Review accounting procedures and convert from Circular 200 to Circular 99.
• Update accounting software (chart of accounts, reports, print templates)

Suggested safe implementation: complete the conversion of accounts and financial statement templates by
December 2025 to ensure that accounting from January 2026 starts without any opening balance errors.

2. Other accounting regulations effective from January 1, 2026

B. TAX (Enterprise)

1. Corporate Income Tax – applicable throughout 2026

Corporate Income Tax Law 2025 (Law No. 67/2025/QH15) and
Decree 320/2025/NĐ-CP are the main legal framework applicable to the tax year 2026.

• Standard tax rate: 20%
• Tax rate 15%: revenue ≤ VND 3 billion/year
• Tax rate 17%: revenue > VND 3 billion to ≤ VND 50 billion/year
• The applicable tax rate is determined based on the revenue of the immediately preceding tax period.
• Expenses of VND 5 million or more must be settled via non-cash payment methods.

2. Global Minimum Tax (QDMTT / IIR)

Decree 236/2025/NĐ-CP continues to be a key focus in 2026.
Enterprises subject to this regime need to standardize their consolidated accounting data
in order to prepare the required declaration forms.

3. Value-Added Tax – Key areas to focus on in 2026

• VAT reduction of 2% (10% → 8%) remains effective until December 31, 2026
• Tax-exempt revenue threshold for household/individual businesses: VND 500 million/year from January 01,
  2026
• Unprocessed agricultural products: not subject to VAT declaration but remain eligible for input VAT
  deduction.

4. Tax and invoice penalties – effective from 16/01/2026

Decree 310/2025/NĐ-CP amends Decree 125/2020 on penalties for administrative violations in the
field of taxation and invoices.

• Expanding the definition of administrative violations related to taxation
• Adds cases of force majeure
• Increases penalties for failing to issue invoices or issuing invoices at the wrong time.
• Clearly define transitional principles before and after January 16, 2026

5. Personal Income Tax – Major Changes in 2026

• Family circumstance deductions from January 1, 2026: VND 15.5 million/month
• Dependant deduction: VND 6.2 million/month
• From July 1, 2026: a 5-tier progressive tax schedule will apply instead of the current a 7-tier system.

C. TAX & INVOICE (Household Business / Individual business)

1. Law on Tax Administration 2025 – effective from January 1, 2026

• Articles 13 and 26 on tax declaration, tax calculation, and electronic invoices apply.
• Electronic invoice data is automatically used as input for tax return.

2. Roadmap for eliminating the presumptive tax regime

According to Decision 3389/QĐ-BTC, from January 1, 2026, household businesses will gradually transition from
the presumptive tax regime.
to self-declaration – self-calculation – self-payment.

D. SOCIAL INSURANCE (Enterprises & Household Businesses)

• Household business owners who pay taxes under the declaration method are subject to mandatory social
  insurance.
• Decree 158/2025/NĐ-CP serves as the legal basis for implementation in 2026
• Accountants need to review the social insurance participation status of the household business owners.

Checklist for closing the books – applicable from January, 2026

Enterprises

1. Change from Circular 200 → Circular 99 (accounts, ledgers, financial statements, software)
2. Update corporate income tax rates based on revenue of the immediately preceding year.
3. Monitor the 8% VAT rate until December 31, 2026.
4. Update the penalty framework in accordance with Decree 310
5. Standardize data if subject to the global minimum tax.

Household Businesses

1. Understand the provisions of the Law on Tax Administration that apply from January 1, 2026.
2. Prepare to operate the electronic invoice/cash register system.
3. Review the mandatory social insurance obligations of household business owners.