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Effective from July 1, 2026, Circular 58/2026/TT-BTC will come into force, superseding Circular 132/2018/TT-BTC, to provide guidance on applying the accounting regime for micro-enterprises with several notable new points:
1. General application guidelines:
- Micro-enterprises shall choose their bookkeeping and financial statement preparation methods based on their Value-Added Tax (VAT) and Corporate Income Tax (CIT) payment methods (comprising 04 methods).
- Paying VAT and CIT as a percentage (%) of revenue.
- Paying VAT as a percentage (%) of revenue and paying CIT based on taxable income.
- Paying VAT under the credit method and paying CIT as a percentage (%) of revenue.
- Paying VAT under the credit method and paying CIT based on taxable income.
- If an enterprise no longer falls under the micro-enterprise category during a financial year, it is still permitted to apply the accounting regime under Circular 58/2026/TT-BTC until the end of the current financial year, and shall transition to an appropriate accounting regime in the subsequent year.
- Micro-enterprises may opt to apply the accounting regime designated for small and medium-sized enterprises (SMEs), provided it is applied consistently throughout a single financial year.
- Household businesses and individual business operators may also elect to apply the accounting regime under Circular 58/2026/TT-BTC, subject to consistent application.
- They are permitted to modify, supplement, or design additional accounting voucher templates and accounting books to suit their operational characteristics, provided they strictly comply with the Accounting Law.
- In cases where electronic invoices are used and notifications from the tax authority are received, the enterprise shall use the accounting book templates under Circular 58/2026/TT-BTC to track and reconcile the payable tax amount.
2. Bookkeeping:
Enterprises must base their selection of appropriate accounting book templates on their VAT and CIT payment methods. For example:
- If paying VAT and CIT as a percentage (%) of revenue: Use the Sales revenue book for goods and services (Form No. S1-DNSN).
- If paying VAT under the credit method and CIT based on taxable income: Use the Detailed book for revenue and expenses (S2b-DNSN), Detailed book for materials, tools, products, and goods (S2c-DNSN), Detailed cash book (S2d-DNSN), and VAT obligation tracking book (S3b-DNSN).
Depending on their needs, enterprises may also utilize other accounting books such as the Detailed debt settlement book, Fixed asset book, Other tax obligation tracking book, and Equity tracking book.
3. Financial statements:
The financial statements of micro-enterprises consist of only 02 forms:
- Statement of financial position (Form No. B01 – DNSN).
- Statement of business results (Form No. B02 – DNSN).
However, only micro-enterprises paying CIT under the taxable income method are mandated to prepare financial statements and submit them to competent state authorities within 90 days from the end of the annual accounting period. Micro-enterprises paying CIT as a percentage (%) of revenue are not required to do so, unless otherwise stipulated by other laws.
4. Arrangement of accounting personnel:
- Micro-enterprises are permitted to assign the biological parents, adoptive parents, spouses, biological children, adopted children, or biological siblings of the legal representative, the head, the director or general director, and deputies of the head, deputy directors, or deputy general directors in charge of finance and accounting, to perform accounting duties.
- Alternatively, individuals currently working as managers, executives, storekeepers, cashiers, or those assigned with frequent asset buying and selling tasks can also be assigned.
- Or, the enterprise may outsource accounting services.
- Micro-enterprises are not required to appoint a Chief Accountant. The person in charge of accounting may sign on behalf of the Chief Accountant on accounting vouchers, books, and financial statements.
