In-Depth Analysis Of Several New Regulations Effective From January 01, 2026

1. Special Consumption Tax (SCT) Law No. 66/2025/QH15 And Decree No. 360/2025/ND-CP Guiding The SCT Law

1.1. Supplementation Of Goods And Services Subject To SCT

• Soft drinks under National Standards (TCVN) with sugar content exceeding 5g/100ml;

• Betting business including sports betting, entertainment betting, and other betting forms as prescribed by law;

• Battery-powered vehicles with engines under 24 seats.

1.2. Supplementation Of Goods And Services Not Subject To SCT

• Air conditioners with capacity of 24,000 BTU or less;

• Goods processed by organizations or individuals for direct export abroad;

• Exported goods returned by foreign parties upon re-importation;

• Vehicles not registered for circulation, not participating in traffic, operating only within historical relics, hospitals, schools, and other specialized vehicles as regulated by the Government;

• Aircraft, helicopters, and gliders used for medical emergency, rescue, disaster relief, and agricultural production.

1.3. Supplementation Of SCT Calculation Methods

Before January 01, 2026:
SCT = SCT Taxable Price × SCT Tax Rate

From January 01, 2026:

• Percentage-Based Method:
  SCT = SCT Taxable Price × SCT Tax Rate

• Absolute Tax Method:
  SCT = Quantity Of Taxable Goods × Absolute Tax Rate

• Mixed Method:
  SCT = SCT Calculated By Percentage Method + SCT Calculated By Absolute Method

1.4. Details Of Certain Changes In SCT Tax Rates

Related Impact:
Under Decree No. 174/2025/ND-CP on VAT reduction, goods and services subject to SCT are not eligible for VAT reduction. Therefore, from January 01, 2026, the following goods previously eligible for VAT reduction from 10% to 8% will no longer qualify:

• Sugary beverages exceeding 5g/100ml;

• Betting business including sports and entertainment betting.

Goods newly eligible for VAT reduction from January 01, 2026:

• Air conditioners with capacity of 24,000 BTU or less.

2. Circular No. 99/2025/TT-BTC Replacing Circular 200 On Enterprise Accounting Regime

From January 01, 2016, Circular No. 200/2014/TT-BTC expires and is replaced by Circular No. 99/2025/TT-BTC. Key changes include:

• Changes In Accounting Account System

  • Renaming certain accounts (155, 2413, 242, etc.);

  • Adding new accounts (215 – Biological Assets; 2144 – Fixed Asset Upgrades; 332 – Dividends And Profits Payable; etc.);

  • Eliminating certain accounts:

    • Level 1 accounts: 441, 461, 466;

    • Level 2 accounts: 1111, 1112, 1121, 1122, etc.

• Enterprises shall apply the accounting account system in Appendix II attached to Circular 99/2025/TT-BTC and may modify it to suit operational characteristics.

• Principles For Preparing Financial Statements When Changing Accounting Currency

  • Conversion based on average transfer exchange rate at the date of change;

  • Comparative information converted using the prior period’s average exchange rate;

  • Disclosure of reasons and impacts in the Notes to Financial Statements.

• Components Of Financial Statements

  • Statement of Financial Position;

  • Income Statement;

  • Cash Flow Statement;

  • Notes to Financial Statements.

• Requirement To Issue Internal Accounting Regulations

• Use Of Accounting Software

  • Legal compliance;

  • Accuracy and transparency;

  • Data security;

  • Timely reporting;

  • Integration capability;

  • Upgradeability.

• Enterprise Responsibilities

  • Legal representatives and accounting officers are responsible for the accuracy and integrity of accounting data.

3. Decree No. 310/2025/ND-CP Adjusting Administrative Penalties On Tax And Invoices From January 16, 2026

• Penalties for late invoice issuance and failure to issue invoices are increased and calculated based on the number of invoices.

• Maximum fines:

  • Up to VND 70 million for late invoice issuance;

  • Up to VND 80 million for failure to issue invoices.

• Multiple violations handled as a single offense with corresponding penalty framework.

• Addition of force majeure cases such as natural disasters, epidemics, fires, wars, riots, strikes, and unforeseeable objective events.

• Penalties for individuals equal to 50% of those imposed on organizations.

4. Circular No. 33/2025/TT-BKHCN On Criteria For Electronics Manufacturing Enterprises Eligible For Corporate Income Tax Incentives

Key criteria include:

• Use of semiconductor chips designed, manufactured, packaged, or tested in Vietnam;

• Ownership of product design;

• R&D and innovation requirements (personnel and expenditure thresholds);

• Development of domestic supply chains;

• Technology transfer to Vietnamese entities within 5 years.