Summary of key tax & accounting updates for 2026

The year 2026 marks a new phase in our Company’s journey under the guiding principle “Go for Excellence” — striving not only for excellence in business performance but also for high standards in governance and compliance. With Vietnam’s rapidly evolving legal environment and increasingly strict tax transparency requirements, timely updates and accurate implementation of new regulations are no longer merely mandatory obligations, but also a critical benchmark of professional operational capability.

For a fast-growing FMCG enterprise like ours, the tax and accounting system serves as the backbone ensuring operational stability, cost optimization, and effective legal risk control. Therefore, proactively understanding and preparing for new tax and accounting policies effective from 2026 is an essential step toward achieving sustainable and consistent excellence across the Company.

Below is a summary of key regulations that all departments should take note of in 2026.

1. Amendments to Personal Income Tax (PIT)

Effective from 01 January 2026, personal & dependent allowances are significantly increased:

• Personal deduction: VND 15,500,000/month (VND 186 million/year).
• Dependent deduction: VND 6,200,000/month per dependent.
• Impact: These revised thresholds allow many employees to reduce their tax burden if their taxable income falls below the new limits.

2. VAT Updates & Non-Cash Payment Requirements (Decree 181 & Circular 69)

Key provisions applicable throughout 2026 include:

• Clarification of conditions for 0% VAT on exported goods and services.
• Mandatory non-cash payment evidence for invoices of VND 5 million or above (applicable to both individuals and enterprises).
• Invoice splitting is strictly prohibited within the same day to circumvent non-cash payment requirements.

3. Regulations on Electronic Labor Contracts (Decree 337/2025/ND-CP)

• Effective from 01 July 2026: Mandates e-contracts signed and managed on the government’s centralized digital platform.
• This serves as a vital legal basis for justifying salary expenses during Corporate Income Tax (CIT) finalization.

4. Abolition of Business License Fee

• Officially abolished from 01 January 2026. Enterprises are no longer required to make this annual payment.

5. Administrative Penalties in Tax and Invoice Management (Decree 310/2025/ND-CP)

• Expands penalties for providing inaccurate tax information or late/discrepant submission of tax accounts and invoice data.

6. New Accounting Framework (Circular 99/2025/TT-BTC)

• Replaces Circular 200/2014/TT-BTC starting 01 January 2026.
• Requires revisions to financial reporting standards and upgrades to internal control systems and documentation procedures.

7. Detailed Guidance on Corporate Income Tax (Decree 320/2025/ND-CP)

• Implements the new CIT Law 2025 for tax periods from 2026 onward.
• Clarifies taxable income from capital transfers, e-commerce, and deductible expense thresholds.

8. Changes in Tax Methods for Household Businesses

• Replaces the presumptive tax regime with mandatory tax declaration for most household businesses.
• Increases the tax-exempt revenue threshold to VND 500 million/year (up from the previous VND 100–200 million).

From: Finance – Accounting Dept