Vietnam Accounting, Audit & Payroll

Vietnam's accounting and tax system includes internationally-aligned standards, corporate and personal taxes with varying rates, and strict compliance requirements, making professional guidance essential for businesses, especially foreign ones.

Vietnam's accounting standards mandate specific requirements for various entities, covering aspects like accounting periods, financial statements, inventories, and a unified chart of accounts, with an ongoing transition to adopt International Financial Reporting Standards (IFRS) by 2025.

Vietnam's labour laws encompass areas like minimum wage, working hours, employee benefits, workplace safety, and regulations for hiring foreign nationals, aiming to protect employee rights and ensure fair working conditions.

Vietnam's adoption of International Financial Reporting Standards (IFRS) alongside Vietnamese Accounting Standards (VAS) marks a critical step towards aligning its accounting practices with global norms, impacting areas like revenue recognition, asset valuation, and financial reporting.

Vietnam's HR salary and payroll practices involve region-specific wages, mandatory insurance deductions, tax responsibilities, and customary bonuses like the 13th-month and Tet bonuses, all within a framework of strict legal compliance.