Vietnam: Accounting documents to be retained for at least 5 years

According to Decree No. 174/2016/NĐ-CP of Vietnam’s Government, the following accounting documents have to be retained for at least 5 years:

- Accounting records that are not directly recorded to accounting books and financial statements such as collection notes, payment notes, which are not enclosed with accounting documents.

- Accounting documents serving management of an accounting unit that are not directly recorded in accounting books and financial statements.

Note: In the cases where other laws prescribe that the documents specified above have to be retained for more than 5 years, such law shall apply.

Also according to Decree No. 174/2016/NĐ-CP of Vietnam’s Government, the following accounting documents have to be retained for at least 10 years:

- Accounting records directly recorded in accounting books and financial statements, statements, detailed accounting books, general accounting books, monthly, quarterly and annual financial statements, annual statements, internal audit reports, accounting document destruction records and other documents directly recorded in accounting books and financial statements.

- Accounting documents related to liquidation or transfer of fixed assets; reports on stocktaking and asset valuation.

- Accounting documents of investors, including annual accounting documents and terminal statements of completed Group B and Group C projects.

- Accounting documents related to establishment, division, consolidation, merger, conversion of the enterprise, dissolution, bankruptcy, shutdown or termination of a project.

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View provisions on accounting documents to be permanently retained in Decree No. 174/2016/NĐ-CP of Vietnam’s Government, effective from January 01, 2017.

- Thanh Lam -

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