Guidelines for the financial statements of charitable activities in Vietnam

According to the Circular, guidelines for the financial statements of charitable activities in Vietnam are as follows:

- Preparation time for financial statements in Vietnam:

Agencies, organizations, and units that have their own accounting organization for social and charity activities must prepare financial statements in accordance with the law.

- Financial statements period in Vietnam:

The unit must prepare financial statements at the end of the annual accounting period in accordance with the Law on Accounting.

- The deadline for submission of financial statements in Vietnam:

The unit's annual financial statements must be submitted to competent state agencies within 90 days from the end of the annual accounting period as prescribed by law.

- Disclosure of financial statements in Vietnam:

+ financial statementss of social funds and charity funds must be made public according to the provisions of Decree 93/2019/ND-CP; financial statements of other organizations and units shall be made public in accordance with the law.

In addition, organizations and units that mobilize, receive, distribute, and use voluntary donations must also make public information according to the provisions of Decree 93/2021/ND-CP.

+ Time limit for disclosure: The entity must disclose its annual financial statements within 30 days from the date of submission of the financial statements in accordance with the Law on Accounting.

See more at Circular 41/2022/TT-BTC effective from September 1, 2022.

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