This document requires entities with foreign investment to register their accounting systems with the Ministry of Finance, comply with regulations on financial reporting, and pay taxes in full. The document applies to enterprises and units engaging in business cooperation with foreign countries in Vietnam.
适用范围
Entities participating in joint venture contracts with foreign parties and foreign-invested enterprises operating production and business activities within the territory of Vietnam
要点
- Units must register their applicable accounting systems with the Ministry of Finance (Department of Accounting Systems, Ministry of Finance, and State Revenue Collection Office where the unit is located) for review and recognition.
- Any accounting system currently in use at a unit that has not been registered and recognized by the Ministry of Finance is invalid.
- Units must submit all required financial reports within three months after the end of the fiscal year to the Ministry of Finance (State Revenue Collection Department).
- The Ministry of Finance conducts an audit of production and business activities in previous years annually.
- Units must declare and immediately pay any outstanding taxes, land rent, water surface use fees, sea surface use fees, social insurance contributions... that have not been paid to the state budget at the revenue collection office where the unit is located.
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❓ 常见问题
Foreign-invested entities need to register their accounting systems with whom?
Units must register with the Ministry of Finance (Department of Accounting Systems, Ministry of Finance and State Revenue Collection Office where the unit is located).
What is the deadline for submitting financial reports after the end of the fiscal year?
Units must submit all required financial reports within three months after the end of the fiscal year.
When does the Ministry of Finance conduct an audit?
The accounting audit is conducted annually.
全文
NOTIFICATION
OF THE MINISTRY OF FINANCE NO. 610/TC DATED APRIL 23, 1990 ON REGISTRATION AND SUBMISSION OF ACCOUNTING REPORTS FOR FOREIGN-INVESTED ENTERPRISES
To: - Units participating in joint venture contracts with foreign parties. - Foreign-invested enterprises.
Pursuant to Article 18 of the Law on Foreign Investment in Vietnam and the provisions set forth in Chapter IX of Decree No. 139/HĐBT dated September 5, 1988 of the Council of Ministers of the Socialist Republic of Vietnam
Regarding detailed regulations for implementing the Law on Foreign Investment in Vietnam. “The Ministry of Finance hereby requests units participating in joint venture contracts with foreign parties and foreign-invested enterprises currently operating within the territory of Vietnam to comply with the following requirements:”1. Strictly adhere to the accounting system applicable to foreign-invested entities as prescribed by Circular No. 46/TC-CQKT dated October 20, 1989 issued by the Ministry of Finance.
2. Units must register with the Ministry of Finance (Department of Accounting Regulations and State Revenue Collection Office where the unit is located) their accounting system for review and approval. Any accounting systems not registered or approved by the Ministry of Finance are invalid.
3. Annual audits will be conducted, and units must submit all required financial reports within three months after the end of each fiscal year to the State Revenue Collection Bureau (Department of State Revenue).
In 1990, the Ministry of Finance will conduct audits on business operations for the years 1988 and 1989 for all units.
4. Units must declare any outstanding taxes; land, water, or sea rent; social insurance contributions... to the State Revenue Collection Office where they are located and promptly pay these amounts into the State Budget. Any unit failing to comply or delaying payment will be subject to penalties as stipulated by the Law on Foreign Investment in Vietnam and related implementing regulations.
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