Can individual businesses arrange their wives to be accountants in Vietnam?

Can individual businesses arrange their wives to be accountants in Vietnam?

Pursuant to Article 3 of Circular 88/2021/TT-BTC regulating organizing accounting works as follows:

1. Accountants of household businesses and individual businesses shall be appointed by representatives of such household businesses and individual businesses. The representative of a household business or individual business may appoint his/her parent, foster parent, spouse, natural child, adopted child or sibling to act as an accountant of that household business or individual business or appoint a person holding the position of manager, executive officer, warehouse-keeper or cashier or the one assigned to buy and/or sell assets to perform accounting works for that household business or individual business.

2. Household businesses and individual businesses shall do accounting according to the provisions of this Circular or accounting policies for microenterprises depending on their management requirements and characteristics of their business operations.

3. Household businesses and individual businesses may apply the provisions of Article 41 of the Law on Accounting and Articles 9 through 17 of Decree No. 174/2016/ND-CP dated December 30, 2016 to their preservation and retention of accounting documents to serve the determination of their tax liabilities to state budget and the management of household businesses and individual businesses by tax authorities.

Thus, as an individual business, when organizing accounting work, you can arrange for his wife to work as an accountant to preserve and store accounting documents to serve the determination of tax obligations. of business individuals with the state budget and the management of business individuals by tax authorities.

Can individual businesses arrange their wives to be accountants in Vietnam? (Image from the Internet)

Can business individuals prepare and store accounting documents in electronic form?

According to Article 4 of Circular 88/2021/TT-BTC, accounting records are regulated as follows:

1. Contents of accounting records, making, retention and signing of accounting records of household businesses and individual businesses shall comply with the provisions of Articles 16, 18 and 19 of the Law on Accounting and specific guidelines in Appendix 1 “Forms and methdos for making of accounting records” enclosed herewith.

2. Household businesses and individual businesses may apply the provisions of Articles 17 and 18 of the Law on Accounting on making and retention of accounting records in the form of electronic documents in a manner that is suitable to the characteristics of their business operations.

3. Contents and appearance of invoices, procedures for making, management and use of invoices (including electronic invoices) shall comply with regulations of law on taxation.

4. Household businesses and individual businesses shall use accounting records listed hereunder:

No.	Description	Code
I	Accounting records prescribed herein
1	Receipt	Form No. 01-TT
2	Payment note	Form No. 02-TT
3	Goods-received note	Form No. 03-VT
4	Goods-dispatch note	Form No. 04-VT
5	Salary and income payment worksheet	Form No. 05-LDTL
II	Other accounting records prescribed by law
1	Invoice
2	Slip of payment to state budget
3	Bank’s debit note and credit note
4	Payment order

Purposes, forms, contents and methods for making accounting records prescribed herein are elaborated in Appendix 1 “Forms and methods for making accounting records” enclosed herewith.

Thus, individual businesses can apply legal regulations to prepare and store accounting documents in electronic form to suit the characteristics of their production and business activities in Vietnam.

Best regards!