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Vietnam: Periodic reporting regulations for provision of cross-border accounting services

17:00, 29/05/2020

Circular No. 40/2020/TT-BTC providing guidance on reporting regulations in the independent accounting and audit sector in Government’s Decree No. 174/2016/ND-CP dated December 30, 2016, elaborating on several articles of the Accounting Law and Government’s Decree No. 17/2012/ND-CP dated March 13, 2012, providing details and instructions about implementation of several articles of the Law on Independent Audit of Vietnam, was issued on May 15, 2020.

According to Circular No. 40/2020/TT-BTC of the Ministry of Finance of Vietnam, submission deadline for periodic reporting regulations for provision of cross-border accounting services is the 31st of July at the latest in the current reporting year with respect to first half-year reports; the 31st of January at the latest in the subsequent reporting year with respect to second half-year reports.

Data closing duration: The closing duration for data collected within the first half of the reporting year ranges from January 1 to June 30 in the reporting year; the closing duration for data collected within the second half of the reporting year ranges from July 1 to December 31 in the reporting year.

Periodical reports are presented in either documentary or electronic form, and sent by employing one of the following methods:

- Directly;

- Postal services;

- Emails;

- Others provided by law.

View more details at the Circular No. 40/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from July 01, 2020.

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