The Ministry of Finance has just issued Circular 58/2026/TT-BTC guiding the accounting regime for micro enterprises, replacing Circular 132/2018.
Effective from July 1, 2026 and applicable to financial years starting from or after July 1, 2026.
According to Article 5 of Circular 58/2026/TT-BTC stipulating the method of recording micro-enterprises to pay value-added tax (VAT) and corporate income tax (CIT) as a percentage (%) on revenue as follows:
- Columns A, B: Record the serial number, date, month of invoices and documents.
- Column C: Recording the interpretation of the business content generating revenue from selling goods and services. Depending on management requirements, micro enterprises can record revenue according to each invoice, document or according to the total number attached to the detailed data table on invoices and documents according to the provisions of law.
- Column 1: Record the amount of money from sales of goods and services according to each group of goods, services, and industry to serve as a basis for determining the revenue from sales of goods and services with the same VAT calculation percentage or the same CIT calculation percentage. Based on the revenue from sales of goods and services in the period, micro enterprises determine the VAT and CIT amounts to be paid according to the provisions of tax law. The last line records the total VAT and CIT amounts to be paid in the period.
According to Article 6 of the 2015 Accounting Law, accounting principles are as follows:
- The value of assets and liabilities is initially recorded at the original price. After initial recognition, for certain types of assets or liabilities whose value fluctuates frequently at market prices and their value can be reliably re-determined, they are recorded at a reasonable value at the end of the financial statement period.
- The selected regulations and accounting methods must be applied consistently in the annual accounting period; in case of changing the selected regulations and accounting methods, the accounting unit must explain in the financial statements.
- The accounting unit must collect and reflect objectively, fully, in accordance with reality and in the correct accounting period that economic and financial nghiệp vụ (operations/operations) arise.
- Financial statements must be prepared and sent to competent authorities fully, accurately and promptly. Information and data in the financial statements of the accounting unit must be made public in accordance with the provisions of Article 31 and Article 32 of this Law.
- The accounting unit must use the method of assessing assets and allocating revenues and expenditures cautiously, and must not distort the economic and financial performance of the accounting unit.
- The preparation and presentation of financial statements must ensure that they accurately reflect the nature of the transaction rather than the form or name of the transaction.
- State agencies, organizations, and public service units using the state budget, in addition to implementing the provisions in (1), (2), (3), (4), (5), (6), must also perform accounting according to the state budget table.
