{"id":6171,"date":"2026-07-07T10:01:45","date_gmt":"2026-07-07T03:01:45","guid":{"rendered":"https:\/\/thue.man.net.vn\/?p=6171"},"modified":"2026-07-13T08:37:25","modified_gmt":"2026-07-13T01:37:25","slug":"ke-toan-thue-cho-ho-kinh-doanh","status":"publish","type":"post","link":"https:\/\/thue.man.net.vn\/en\/ke-toan-thue-cho-ho-kinh-doanh\/","title":{"rendered":"Tax accounting services for sole proprietorships"},"content":{"rendered":"

Tax accounting services for sole proprietorships are witnessing a historic change from January 1, 2026, when the lump-sum tax system is officially abolished in Vietnam. All individual business households, from small to large scale, must completely switch to a self-declaration and self-payment method based on actual invoices and documents. This new legal context forces shop owners and online shop owners to quickly familiarize themselves with maintaining accounting records and issuing electronic invoices.<\/span><\/p>\n

Adapting quickly to new regulations helps businesses avoid heavy administrative penalties from tax authorities. To help business owners struggling with complex procedures, this article will analyze in detail the latest bookkeeping management process and tax obligations. From there, you will find the optimal solution to maintain smooth business operations while ensuring full compliance with current laws.<\/span><\/p>\n

What is tax accounting for sole proprietorships and why is it mandatory under the new 2026 law?<\/b><\/h2>\n
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What is tax accounting for sole proprietorships and why is it mandatory under the new 2026 law?<\/figcaption><\/figure>\n

When it comes to tax accounting for sole proprietorships, many people still think it's optional or only applicable to large businesses. However, since January 1, 2026, this notion is completely inaccurate as the government's tax management regulations have become stricter.<\/span><\/p>\n

The essence of tax accounting for household businesses under the new regulations is the recording of actual books and documents to accurately calculate the amount of tax payable, instead of relying on a predetermined flat tax rate as before. This shift aims to create equality in tax obligations and simultaneously digitize the entire private economic data system.<\/span><\/p>\n

The difference between tax accounting for sole proprietorships and tax accounting for businesses.<\/b><\/h3>\n

Compared to corporate accounting, <\/span>tax accounting<\/span><\/a> Household businesses have a simpler accounting system structure but require a very high level of document updating. Household businesses are not required to prepare year-end financial statements or perform complex closing entries like joint-stock companies or limited liability companies.<\/span><\/p>\n

However, the requirements regarding the legality of input invoices, the timing of output invoice issuance, and the accuracy of actual revenue are just as strict as those for corporate tax accounting. Below is a detailed comparison table between the two types to help homeowners easily understand:<\/span><\/p>\n\n\n\n\n\n\n\n
Table differentiating between tax accounting for sole proprietorships and tax accounting for businesses.<\/b><\/caption>\n
Comparison criteria<\/b><\/td>\nTax accounting for sole proprietorships<\/b><\/td>\nCorporate tax accounting<\/b><\/td>\n<\/tr>\n
Accounting system<\/span><\/td>\nJust 7 basic types of accounting records are needed. <\/span>Circular 152\/2025\/TT-BTC<\/span><\/a><\/td>\nA complete accounting chart of accounts according to <\/span>Circular 133<\/span><\/a> or <\/span>Circular 200<\/span><\/a><\/td>\n<\/tr>\n
Financial report<\/span><\/td>\nNot required to submit<\/span><\/td>\nMandatory submission (Balance Sheet, Income Statement, etc.)<\/span><\/td>\n<\/tr>\n
Tax return<\/span><\/td>\nTax return form No. 01\/CNKD with attached appendix<\/span><\/td>\nDeclaration <\/span>VAT<\/span><\/a>, <\/span>corporate income tax<\/span><\/a>, <\/span>personal income tax<\/span><\/a> and report on invoice usage.<\/span><\/td>\n<\/tr>\n
Tax settlement<\/span><\/td>\nNo annual tax settlement (only monthly\/quarterly tax payments).<\/span><\/td>\nCorporate income tax settlement<\/span><\/a> and personal income tax year<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Legal risks of not properly performing tax accounting for sole proprietorships.<\/b><\/h3>\n

Failure to maintain accurate tax accounting for household businesses can lead to extremely serious financial consequences for the business owner. Tax authorities now employ automated electronic invoice data review technology, enabling immediate detection of revenue discrepancies and cases of incomplete declarations.<\/span><\/p>\n

During an inspection, if a business cannot present valid accounting records and documents to prove the origin of its goods, the entire revenue may be subject to a very high tax rate. Furthermore, the lack of input invoices for goods subject to excise tax or imported goods could lead to accusations of trading goods of unknown origin.<\/span><\/p>\n

What are the common legal risks and tax penalties for sole proprietorships?<\/b><\/h2>\n

Many household owners still maintain the habit of keeping simple notebooks or selling goods without issuing invoices because they believe it is difficult for tax authorities to monitor. In reality, modern management processes have directly linked data from the household owner's bank account with the tax authorities to verify the actual flow of money.<\/span><\/p>\n

From the perspective of MAN \u2013 Master Accountant Network, a unit with over 30 years of experience in auditing and tax consulting in Vietnam, the biggest risk for household businesses today is a lack of understanding of tax filing deadlines and how to handle daily generated electronic invoices.<\/span><\/p>\n

Administrative penalties for late submission of tax returns and electronic invoices.<\/b><\/h3>\n

Decree 125\/2020\/ND-CP<\/span><\/a> The government stipulates very heavy penalties for errors related to tax declarations and invoices. For submitting tax returns after the deadline, the fine ranges from VND 2,000,000 to VND 25,000,000 depending on the number of days of delay.<\/span><\/p>\n

For electronic invoices, issuing invoices at the wrong time or failing to issue invoices when selling goods or services can result in fines ranging from VND 3,000,000 to VND 8,000,000 for each violation. These are significant amounts that can directly erode the entire monthly profit of a small or medium-sized business.<\/span><\/p>\n

Risks arising from the inability to prove the origin of raw materials.<\/b><\/h3>\n

A classic mistake that online shop owners often make is importing raw materials from wholesale markets, unofficial sources, or processing factories without proper invoices. When self-declaring taxes, all purchase expenses that are to be recognized as legitimate for tax deduction purposes must be accompanied by a valid purchase invoice.<\/span><\/p>\n

Without valid input invoices, household businesses will have to pay taxes based on gross revenue without being able to deduct the cost of goods sold. This leads to a situation of "false profit, real loss" as the taxes payable erode the working capital of the household business.<\/span><\/p>\n

What are the steps involved in the self-service tax accounting process for sole proprietorships?<\/b><\/h2>\n
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What are the steps involved in the process of providing tax accounting services for sole proprietorships?<\/figcaption><\/figure>\n

To manage tax accounting for a sole proprietorship, the business owner needs to adhere to a standardized and consistent process on a daily and monthly basis. Any disruption at any stage will create data gaps, causing significant difficulties when reconciling end-of-period figures with the relevant tax authorities.<\/span><\/p>\n

Step 1: Register for tax and set up the electronic invoicing system.<\/b><\/h3>\n

Immediately after receiving the business registration certificate, the household business owner must register for a business tax code at the district or county tax office where the business is located. After obtaining the tax code, you need to purchase a digital signature specifically for household businesses and register to use electronic invoices according to Circular 78\/2021\/TT-BTC through a licensed solution provider.<\/span><\/p>\n

When selling any item valued at VND 20,000 or more, or upon customer request, business households must issue electronic invoices. These invoices must be transmitted directly to the General Department of Taxation's system on the same day to ensure their validity.<\/span><\/p>\n

Step 2: Set up the system of 7 mandatory accounting books.<\/b><\/h3>\n

According to Circular 152\/2025\/TT-BTC, business households applying the mandatory declaration method must open and maintain complete accounting books. The process of preparing accounting books for business households requires meticulous attention to detail to match the actual inventory levels with invoices. These books include:<\/span><\/p>\n