On September 30, 2025, the Ministry of Finance issued Circular No. 99/2025/TT-BTC, providing guidance on the corporate accounting regime, replacing Circular No. 200/2014/TT-BTC.
Circular 99 marks a significant milestone in the modernization of Vietnam’s accounting system, aligning more closely with International Financial Reporting Standards (IFRS) and promoting digital transformation and electronic financial reporting (XBRL).
Key highlights of Circular 99 include:
• Standardization of the chart of accounts (Types 1–9) and introduction of new accounts reflecting current business practices;
• Clear requirements for electronic document approval, control, and retention procedures;
• New electronic financial statement templates and guidance on XBRL-based financial disclosures;
• Mandatory internal accounting procedures and RACI frameworks to enhance control and risk management.
Effective from January 1, 2026, this Circular serves as an essential legal foundation for enterprises to prepare for IFRS convergence and enhance financial transparency.