Audit, accounting and tax services.
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INDUSTRY, SUB-SECTOR | CONDITIONS RESTRICTING MARKET ACCESS | LEGAL GROUNDS |
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32
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Audit, accounting and tax services. |
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| 32.1 | Accounting, auditing and bookkeeping services (CPC 862) | 1. Provisions in the Agreements: Unlimited
Particularly, CPTPP adds regulations: Foreign service suppliers are not allowed to provide audit services unless they meet the requirements for presence in the host country in Vietnam in Appendix NCM I-VN-2.
2. Law of Vietnam 2.1. Accounting services: a) Form of operation: Foreign accounting service enterprises conduct accounting service business in Vietnam in the forms specified in Clause 4, Article 59 of the Accounting Law 2015. (including: (i) Capital contribution with accounting service enterprises already established and operating in Vietnam to establish accounting service enterprises; (ii) Establishment of a border accounting service enterprise by the Government)
b) Conditions for granting the Certificate of eligibility for accounting service business: – A branch of a foreign accounting service enterprise in Vietnam shall be granted a Certificate of eligibility to provide accounting services when it fully meets the conditions specified in Clause 4, Article 60 of the Law on Accounting 2015.
2.2. Auditing services: a) Mode of operation: Foreign auditing firms perform audit activities in Vietnam in the following forms: (i) Contribute capital with auditing firms already established and operating in Vietnam to establish audit firms; (ii) Establishment of a branch of a foreign auditing firm; (iii) Provide cross-border audit services in accordance with the Government’s regulations.
b) Cases in which a branch of a foreign auditing firm in Vietnam is not permitted to conduct an audit is specified in Article 30 of the Law on Independent Auditing 2011.
c) Conditions for granting the Certificate of eligibility for audit service business:
– A branch of a foreign auditing firm in Vietnam, when applying for a Certificate of eligibility for business in auditing services, must fully satisfy the conditions specified in Clause 4, Article 21 of the Law on Independent Auditing 2011. |
– WTO, AFAS, VJEPA, VKFTA, EVFTA, CPTPP
– Law on Accounting 2015 – Law on Independent Audit 2011 – Decree No. 129/2004/ND-CP dated May 31, 2004 of the Government detailing and guiding the implementation of a number of articles of the Law on Accounting applicable to business activities – Decree No. 17/2012/ND-CP dated March 13, 2021 of the Government detailing and guiding the implementation of a number of articles of the Law on Independent Audit. – Decree No. 84/2016/ND-CP dated July 1, 2016 of the Government stipulating the standards and conditions for practicing auditors and auditing organizations approved to audit for entities with public interests. – Decree No. 174/2016/ND-CP dated December 30, 2016 of the Government detailing a number of articles of the Law on Accounting. – Decree No. 151/2018/ND-CP dated November 7, 2018 of the Government on amending and supplementing the Decree on investment and business conditions under the state management of the Ministry of Finance. |
| 32.2 | Tax Services (CPC 863) | 1. Provisions in the Agreements: Unlimited
Particularly under the CPTPP, Vietnam reserves the right to adopt and maintain any measure that is inconsistent with its Presence in the host country obligations in Cross-Border Services in the areas of accounting, bookkeeping and tax services.
2. Law of Vietnam: Conditions for granting a certificate of eligibility for business in tax procedure service – Being an enterprise established in accordance with the law. – There are at least 02 people who have been granted the practicing certificate of tax procedure service and work full-time at the enterprise. |
– WTO, AFAS, VJEPA, VKFTA, EVFTA, CPTPP – Law on Tax Administration 2019 |