BUSINESS INDIVIDUALS MAY APPLY THE MICRO-ENTERPRISES ACCOUNTING REGIME
The Ministry of Finance issues the Circular No. 88/2021/TT-BTC guiding the accounting regime applicable to business households and individuals on October 11, 2021.
Accordingly, the Ministry of Finance guides the formulation of accounting documents and recording of accounting books for business households and individuals who pay taxes using the declaration method.
Specifically, contents of accounting documents, the making, archiving, and signing of accounting documents of business households and individuals shall comply with Articles 16, 18, and 19 of the Law on Accounting and specific guidance in Appendix 1 "Form and method of making accounting documents" promulgated together with this Circular.
Contents of accounting books, the opening, recording, closing, and archiving of accounting books of business households and individuals shall comply with Articles 24, 25, and 26 of the Law on Accounting and specific guidance in Appendix 2 "Form and method of recording accounting books" promulgated together with this Circular.
In addition to the accounting regime guided in this Circular, business households and individuals may choose to apply the micro-enterprises accounting regime to meet their management requirements and production and business characteristics.
This Circular takes effect on January 01, 2022.
