Legal Counselling

Extra-small enterprises may design forms of accounting documents

11:39, 11/01/2019

This is a notable content specified in Circular No. 132/2018/TT-BTC of the Ministry of Finance of Vietnam providing guidance on accounting regimes of extra-small enterprises.

According to Circular No. 132/2018/TT-BTC of the Ministry of Finance of Vietnam, accounting documents of extra-small enterprises are specified as follows:

- Contents of accounting documents, formulation and signing of accounting documents of extra-small enterprises shall be subject to provisions laid down in Article 16, Article 17, Article 18 and Article 19 of the Law on Accounting and specific instructions given herein.

- Contents and forms of invoices, procedures for formulation, management and use of invoices shall be subject to laws on taxes.

- Extra-small enterprises may design forms, charts and templates of accounting documents appropriate of their own accord for their business activities provided that they ensure clarity, transparency, and are easily checked or controlled (except for sales invoices). In cases where extra-small enterprises do not autonomously design these forms, charts or templates for their own use, they may use those and methods of design of accounting documents according to the instructions given in the Appendix 1 hereto.

Also according to Circular No. 132/2018/TT-BTC, extra-small enterprises shall apply regulations on accounting currency units prescribed in Article 10 of the Law on Accounting and Article 4 of Decree No. 174/2016/ND-CP of Vietnam’s Government.

View relevant provisions at Circular No. 132/2018/TT-BTC of the Ministry of Finance of Vietnam, effective from February 15, 2019.

- Thanh Lam -

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