Fractional and interim CFOs in Vietnam
Vietnam is the market where the gap between the statutory books and the numbers a foreign owner needs is widest. The Vietnamese Accounting System governs the statutory accounts, the audit is compulsory for every foreign invested enterprise, and the group still needs a view it recognises. We manage both sides of that gap.
- Statutory standard
- Vietnamese Accounting
System, VAS - Chief accountant
- Required, with
prescribed qualifications - Audit
- Mandatory for all foreign
invested enterprises - Corporate tax
- 20% standard rate
- Invoicing
- E-invoices mandatory
- Group reporting
- VAS to IFRS conversion
- We work in
- English, French, Thai
What the rules require of your finance function
| Obligation | Deadline or threshold |
|---|---|
| Statutory accounting system | The Vietnamese Accounting System is mandatory for the statutory books, in Vietnamese and in Vietnamese dong unless approval for a functional currency is obtained. |
| Chief accountant | A qualified chief accountant is required, subject to prescribed experience and certification. |
| Statutory audit | Compulsory every year for every foreign invested enterprise, by an audit firm licensed in Vietnam. |
| Audited financial statements | Filed within 90 days of the financial year end. |
| VAT declaration | Monthly by the 20th of the following month, or quarterly by the last day of the month following the quarter, depending on revenue. |
| Provisional corporate income tax | Paid quarterly, by the 30th day of the following quarter. |
| Annual corporate income tax finalisation | Within 90 days of the financial year end. |
| Foreign contractor tax | Withheld and declared on payments to offshore suppliers for services connected with Vietnam. |
| Electronic invoices | Mandatory, issued through a registered provider and reported to the tax authority. |
Summarised for orientation and reviewed in August 2026. Deadlines, thresholds and rates change. Confirm the current position with your auditor or tax agent before acting on it.
What catches companies out in Vietnam
Running the business on the statutory books
VAS accounts are built for the tax authority, not for management. Owners who read them as management accounts consistently misread margin, accruals and provisions.
No maintained bridge from VAS to group reporting
The conversion is done once a year under audit pressure by whoever is available. A maintained monthly conversion turns a two week annual crisis into a routine reconciliation.
Foreign contractor tax discovered after the invoice is paid
FCT applies to a wide range of offshore service payments and is regularly missed on software, management fees, engineering support and intercompany charges. It usually surfaces in a tax audit with interest attached.
Capital contribution and loan registration deadlines
Charter capital contribution deadlines and the registration of offshore loans through the correct account are administrative, unforgiving, and expensive to fix once missed.
Reliance on one chief accountant with no oversight
In many foreign invested enterprises the chief accountant is the only person who understands the books, reports to nobody with finance expertise, and is the sole interface with the tax authority. That is a governance risk before it is anything else.
What we do here
Supervise the chief accountant
Your statutory role stays in place. We provide the senior finance oversight above it that the structure otherwise lacks.
Maintain a monthly VAS to group conversion
A documented, repeatable bridge from the statutory books to the reporting basis your group uses, run monthly instead of annually.
Build management reporting that reflects the operation
Margin, cost and cash reported the way the business actually runs, not the way the statutory chart of accounts happens to be arranged.
Manage the audit and the tax calendar
Compulsory audit prepared for in advance, quarterly provisional tax, VAT declarations and the 90 day finalisation all tracked centrally.
Review foreign contractor tax exposure
A systematic look at cross-border payments, so FCT is applied at the point of invoicing rather than discovered in an audit.
Vietnam specifics
How much does a fractional CFO cost in Vietnam?
A CFO-only advisory retainer starts from around USD 6,000 per month and the standard two-person team from around USD 9,000, rising where a maintained VAS to IFRS conversion is in scope. Our pricing page explains how engagements are scoped.
Does a foreign invested enterprise in Vietnam have to be audited?
Yes. Statutory audit is mandatory every year for foreign invested enterprises, carried out by an audit firm licensed in Vietnam, with the audited financial statements filed within 90 days of the financial year end.
Can we keep our books in IFRS instead of VAS?
Not for statutory purposes. The Vietnamese Accounting System governs the statutory books. What you can do, and what we set up, is a maintained monthly conversion so the group has an IFRS view without abandoning the statutory requirement.
Do you replace our chief accountant?
No. The chief accountant role is a legal requirement with its own qualification rules and we do not displace it. We provide the layer of senior oversight above it, which is what is usually missing.