Accounting And Bookkeeping In Vietnam: An Overview

• Vietnam employs a unified set of accounting and bookkeeping standards known as Vietnamese Accounting Standards (VAS).
• Understanding regulations related to accounting and bookkeeping are important cost considerations for investors.
• Investors should prepare for the future as Vietnam looks to implement IFRS – the most common accounting language globally – by 2025.

For companies choosing to invest in foreign jurisdictions, taxes and other payments to governing authorities are among the most important cost considerations – issues that are of no exception in Vietnam. Understanding the regulation of accounting and bookkeeping can go a long way towards developing an efficient business strategy that minimizes costs and ensures compliance.