DRAFT CIRCULAR ON ACCOUNTING GUIDELINES FOR HOUSEHOLD BUSINESSES AND INDIVIDUAL BUSINESS HOUSEHOLDS

The Ministry of Finance has recently released a draft Circular providing accounting guidelines for household businesses and individual business households, expected to take effect from January 1, 2026, replacing Circular No. 88/2021/TT-BTC. The main contents include:

Scope of application: Guidelines for bookkeeping by household businesses and individual business households.

Organization of accounting work: Household/individual businesses may keep books themselves, hire an accountant, or outsource accounting services.

Storage of accounting documents: May be stored electronically for a period of 5 years.

Accounting guidelines based on revenue scale: