by Russin & Vecchi's lawyers
To what extent does the law impose an obligation to retain
documents beyond their current usefulness? Vietnamese law has
fairly specific rules identifying documents that must be preserved
and the periods for which they must be preserved. This article
discusses the requirements to preserve accounting and business
documents. Additionally, separate sections address the preservation
of anti-money laundering documents, documents that relate to
transfer pricing, and client and patient files.
I. ACCOUNTING DOCUMENTS
On December 29, 2000, the Minister of Finance issued Decision
218/2000/QD-BTC ("Decision 218") on the preservation of
accounting documents, accompanied by detailed regulations on the
implementation of the 1988 Ordinance on Accounting and
Statistics.
