On December 28th, 2018, the Ministry of Finance issued Circular No. 132\/2018\/TT-BTC guiding the accounting regime for micro enterprises. This Circular takes effect from February 15th, 2019, applicable to the fiscal year beginning or after April 1st, 2019.
\nAccordingly, the subjects applying Circular No. 132\/2018\/TT-BTC are micro enterprises (enterprises with no more than 10 employees paying social insurance; annual revenue or capital of no more than VND 3 billion if they belong to the field In agriculture, forestry, fishery, industry and construction sectors, there are no more than 10 employees paying social insurance and the total revenue is not more than VND 10 billion or the total capital is not more than VND 3 billion in the field of trade and services , including micro-enterprises that pay corporate income tax by the method calculated on taxable income and the method as a percentage of sales of goods and services.
\nAccounting regime for micro enterprises has the following characteristics:
\n–\tRegarding organizational structure: Micro enterprises are arranged in charge of accounting without having to have a chief accountant;
\n–\tAbout accounting books: Micro enterprises are able to build appropriate accounting books themselves. If it is impossible to build by itself, use the form and method of recording in this Circular;
\n–\tRegarding accounting methods: Microenterprises do not have demand, they are not required to open accounting accounts but only write applications on accounting books to monitor revenues and incomes;
\n–\tRegarding financial statements: Micro enterprises are not required to prepare financial statements to submit to tax authorities. In addition to the prescribed reports, micro enterprises can make accounting reports for corporate governance and management.
\nIt can be seen that, with the above mentioned points, Circular No. 132\/2018\/TT-BTC is expected to reduce costs and burdens of personnel, and be compact in accounting books, solve points problems when business households switch to enterprises.<\/p>\n","protected":false},"excerpt":{"rendered":"
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