Vietnam strengthens corporate oversight rules
Vietnam’s regulators are changing how they monitor corporate compliance by replacing broad, routine audits with targeted, data-driven inspections.
Tax authorities focus on high-risk businesses
The Department of Taxation now uses digital analytics to identify taxpayers for closer review. In the first half of 2026, these inspections resulted in recommended tax collections, adjustments, and penalties totaling VND 34 trillion. The department also reduced declared losses and deductible VAT claims by significant amounts.
The new method prioritizes businesses with higher compliance risks instead of random selection. Foreign-invested enterprises and multinational groups face stricter scrutiny of their documentation, transaction consistency, and digital tax records.
Sector-specific inspections expand beyond tax
The shift extends beyond taxation. Thanh Hoa province approved a 2026 inspection program covering 87 enterprises across multiple sectors under the Department of Industry and Trade. These reviews will examine compliance with regulations in chemicals, energy efficiency, and industrial standards.
Each on-site inspection is typically limited to two working days unless extended by law. Officials have emphasized avoiding overlap with other government reviews. While the program applies only to Thanh Hoa, it signals a national move toward more focused, sector-specific oversight.
Regulators are increasing coordination by sharing data from e-invoices, customs declarations, and financial statements. This makes inconsistencies between operational records and tax filings harder to ignore.
Compliance demands grow more interconnected
Companies can no longer view compliance as separate obligations. Tax authorities now cross-reference data from multiple sources, exposing discrepancies between filings and operational practices.
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For manufacturers, chemical producers, energy firms, and international traders, consistent documentation across tax, customs, and licensing records is essential. Regulators are verifying whether reported practices match actual operations.
Regulators suggest several steps to prepare for the new oversight model. Companies should review tax compliance processes and documentation before inspections begin. They should also conduct periodic internal audits covering both tax and industry-specific rules. Ensuring consistency between accounting records, customs filings, and operational reports is another key measure. Businesses must reassess related-party transactions and transfer pricing documentation while maintaining organized records for quick access during reviews.
For foreign investors, compliance is no longer an annual task. It requires year-round attention as a core governance function. Officials have not set a timeline for expanding the Thanh Hoa model nationwide, but the direction is clear. Inspections will become more precise, data-driven, and coordinated across agencies.
