Twenty-six (26) Vietnamese Accounting Standards (VAS) are issued by the Ministry of Finance (MOF) following the Decision 149, 2001 (Batch 1 – four standards), Decision 165, 2002 (Batch 2 – six standards), Decision 234, 2003 (Batch 3 – six standards), Decision 12, 2005 (Batch 4 – six standards), Decision 100, 2005 (Batch 5 – four […]

VN GAAP which is more than well-known by the name Vietnamese Accounting Standards and System is not one set of accounting principles but is dispersed in laws and regulations. VN GAAP consists of various legal documents including accounting law, accounting standards and their interpretation, financial management regime, accounting regime, and guidance on the accounting treatment […]

Establishment cost Establishment cost is the expense incurred prior to the business registration certificate granted by the competent authority. Cost may consist of licensing fees, office rent, and other costs for goods and services rendered. Shall these expenses be considered reasonable expenses for CIT calculation, or deductible for VAT declaration? Establishment cost is considered reasonable […]