Brief Circular 99/2025/TT-BTC 2025 issued by the Ministry of Finance takes effect from 01/01/2026

by KMC Consulting Company Limited

Validity date & scope of application

On October 27, 2025, the Ministry of Finance issued Circular 99/2025/TT-BTC, effective from January 1, 2026, completely replacing Circular 200/2014/TT-BTC – the foundation document of the corporate accounting regime for more than 11 years.

Circular 99 is not only a "technical update" but a comprehensive reform: from the system of documents, accounting accounts, financial statements to internal management and risk control – towards international standards (IFRS) and digital accounting.

1. Scope of Adjustment Expands – From Financial Accounting to Modern Management Accounting

The first breakthrough is to expand the scope of adjustment.

If Circular 200 only focuses on "bookkeeping and preparation of financial statements", Circular 99 requires enterprises to develop their own internal governance regulations, accounting control mechanisms and financial risk control (Article 3).

Practical Meaning:

  • Accountants must not only record professionalism, but also participate in financial management – internal control.
  • Enterprises need to promulgate internal accounting regulations to serve as a basis for legal and transparent operation.

2. New regulations on accounting currency – Flexible but strict

Circular 99 devotes 3 articles (4–6) to regulating monetary units in accounting:

  • Enterprises may choose foreign currencies (USD, EUR, ...) as accounting units if they have revenues, expenses and capital mainly in foreign currencies.
  • When changing the currency unit, it must be done at the beginning of the accounting year, according to the average transfer buying and selling rate of the corporate bank.
  • Financial statements submitted to State agencies are required to be presented in Vietnam Dong, even when recorded in foreign currencies.

Action:

FDI enterprises, import-export, logistics... it will be more convenient to record books in foreign currencies, and at the same time ensure compliance with Vietnamese standards when reporting.

3. Organization of the accounting apparatus – Flexibility between the head office and branches

Article 7 of Circular 99 creates a "turning point" for enterprises with many dependent units:

  • Allows the branch to determine the capital provided by itself as liabilities or equity.
  • Internal revenue may or may not be recorded, depending on the governance model.
  • Branches are entitled to make or not make separate financial statements, as long as the consolidated reports contain sufficient data.

Benefit:

Corporations, system chains, and multi-branch businesses will be easier to manage, control and consolidate reporting while ensuring accounting compliance.

4. New updates on accounting vouchers and digitized forms

Circular 99 allows enterprises to design or edit their own accounting voucher forms as long as they ensure:

  • Honesty, transparency, control,
  • And there must be an officially promulgated Internal Accounting Regulation.

In particular, electronic documents are enhanced legality – in line with the trend of digital transformation in accounting.

Action:

Enterprises can actively build their own electronic accounting systems, ERP, and accounting software, no longer bound by the old paper form of Circular 200.

5. Accounting system – Comprehensive change, approaching IFRS

Account Renaming:

Account number

Old name

New name

112

Bank deposits

Demand deposits

155

Finished Products

Product

158

Goods in duty-suspension warehouses

Raw materials and supplies at the tax-suspension warehouse

2413

Major repair of fixed assets

Periodic repair and maintenance of fixed assets

242

Upfront Costs

Allocation pending costs

244

Pledge, mortgage, escrow, escrow

Escrow, escrow

3387

Unrealized revenue

Revenue pending attribution

4112

Equity surplus

Capital surplus

419

Treasury Shares

Own redemption shares

6415

Warranty Cost

Taxes, fees and charges

Adding new accounts:

Account number

Account Name

Degree

1383

SCT on imported goods

2

215

Biological Properties

1

2295

Provision for loss of biological property

2

2414

Upgrading and renovating fixed assets

2

332

Payable dividends and profits

1

6275

Taxes, fees and charges

2

82111

Current corporate income tax expenses under the provisions of the Law on Enterprise Income Tax

3

82112

Additional corporate income tax expenses under the global minimum tax regulations

3

Bulk removal of detailed accounts:

Sub-accounts of 111, 112, 113, 121, 153, 155, 156, 211, 213, 421, 611, 441, 466... are merged or eliminated, helping to standardize the accounting system, reduce duplication, and approach IFRS standards.

Action:

  • Accounting software and ERP must update the new account portfolio.
  • Accountants need to retrain accounting and reporting schemes to avoid errors when transitioning in 2026.

6. Financial Reporting – New Presentation Standards, Transparency and Integration

Circular 99 still retains 4 types of basic reports but changes the name as follows:

  • Statement on financial position (formerly known as Balance Sheet);
  • Report on business results;
  • Cash flow statements;
  • Explanatory notes to financial statements.

However, the request to expand the Explanation section includes:

  • Currency used;
  • Exchange rate influences;
  • Internal & consolidated transactions;
  • Financial risks (interest rates, credit, exchange rates).

Meaning:

Financial statements are not just numbers, but "financial stories" that show the transparency, governance capacity and risk of the business.

7. Main ideology: "Autonomy – Transparency – Integration"

Circular 99 shows the new thinking of the Ministry of Finance:

"Enterprises are autonomous in the accounting system, but must be responsible before the law for the truthfulness and transparency of financial information."

Towards IFRS standards, digital transformation of accounting, and upgrading Vietnam's financial management capacity.

Appendix attached to Circular 99/2025/TT-BTC

Addendum

Content

Notable changes

Appendix 1

List and forms of accounting vouchers

Allows self-design of templates

Appendix 2

Corporate accounting system

Standardize, supplement, remove accounts

Appendix 3

Accounting books (42 templates)

Reduced from 45 to 42 models

Appendix 4

Financial Statement Form

Conclude

Circular 99/2025/TT-BTC is a turning point in the history of Vietnamese accounting – moving from "bookkeeping" to "management", from "paper" to "digitalization", and from "domestic standards" to "international standards".

Enterprises, chief accountants, accounting software and audit departments must prepare as early as the 4th quarter of 2025 to be ready for a comprehensive transformation in 2026.

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