THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 55/2002/TT-BTC
Hanoi, June 26, 2002
 
CIRCULAR
GUIDING THE VIETNAMESE ENTERPRISES’ ACCOUNTING REGIME APPLICABLE TO FOREIGN-INVESTED ENTERPRISES AND ORGANIZATIONS OPERATING IN VIETNAM
Pursuant to the 1996 Law on Foreign Investment in Vietnam and the 2000 Law Amending and Supplementing a Number of Articles of the Law on Foreign Investment in Vietnam (hereinafter referred collectively to as the Foreign Investment Law);
Pursuant to the May 23, 1997 Commercial Law;
Pursuant to the May 20, 1988 Ordinance on Accountancy and Statistics;
Pursuant to the Government’s Decree No. 24/2000/ND-CP of July 31, 2000 guiding the implementation of the Foreign Investment Law;
Pursuant to the Government’s Decree No. 48/2000/ND-CP of September 12, 2000 detailing the implementation of the Petroleum Law;
Pursuant to the Government’s Decree No. 42/CP of July 8, 1995 regarding the Regulation on legal consultancy practice by foreign lawyers’ organizations in Vietnam;
Pursuant to the Finance Ministry’s Decision No. 1141/TC/QD-CDKT of November 1, 1995 promulgating the Enterprise’s Accounting Regime and Decision No. 167/2000/QD-BTC of October 25, 2000 on the regime of enterprises’ financial reports;
Pursuant to the Finance Ministry’s Decision No. 149/2001/QD-BTC of December 31, 2001 issuing and announcing 4 Vietnamese accounting standards (stage 1),
The Finance Ministry hereby guides the Vietnamese enterprises’ accounting regime applicable to:
- Enterprises with foreign direct investment (FDI); the foreign parties to business cooperation under the Law on Foreign Investment in Vietnam;
- Foreign-invested enterprises and organizations operating not under the Foreign Investment Law such as Vietnam-based resident establishments of foreign companies; branches of foreign lawyers’ organizations in Vietnam operating under the Regulation on legal consultancy practice by foreign lawyers’ organizations in Vietnam (called lawyers organizations’ branches for short); trade branches; organizations and individuals conducting activities of petroleum prospection, exploration and/or exploitation under the Petroleum Law (hereinafter called the petroleum contractors); and other foreign organizations as well as individuals conducting business activities in Vietnam not in forms of investment prescribed in the Law on Foreign Investment in Vietnam (called contractors for short).