TASKS ENTERPRISES MUST DO IN FEB 2026

Continuing with changes in the legal system, particularly the standardization and updating of tax declaration records, including records for foreign contractor taxes as well as notes on digitalization, decentralization, and delegation in the customs clearance process… all aimed at building a unified and up-to-date regulatory system.

TXINDECO would like to summarize the tasks to be carried out in February 2026 as follows for businesses to take special note as below:

1. Foreign Contractor Tax Declaration Records (FCT)

• Legal basis: Decree 373/2025/ND-CP issued by the Government on December 31, 2025, amending and supplementing certain articles of Decree 126/2020/ND-CP guiding the Law on Tax Administration, effective from February 14, 2026

• Subjects required to declare FCT according to Appendix I: Organizations and individuals in Vietnam paying income to foreign contractors; and foreign organizations (if they have a direct declaration obligation)

• Enterprise accountants need to update the tax declaration forms, including the foreign contractor tax declaration form specified in Appendix I of Decree 373.

• Note: Including these forms in the list of tax declaration records in Appendix I means that foreign contractor tax declarations are officially integrated into the national tax declaration records system and are no longer dependent on the forms under the old Circular.

2.    Adjusting Internal Regulations for Import-Export Activities

• Legal basis: Decree 167/2025/ND-CP effective from August 15, 2025, and Circular 121/2025/TT-BTC effective from February 1, 2026

• Import-export businesses need to proactively update and comply with the new regulations to ensure smooth customs clearance operations:

- Prepare an electronic declaration environment and digitalize customs documents: Businesses need to register VNeID accounts for personnel conducting customs declarations and upgrade internal IT systems.

- Carefully manage original documents and data: be ready to present them upon request. Even though all customs documents have been converted to electronic data, businesses must ensure the digital information matches the originals, as Customs authorities may check or audit afterwards.

- Be familiar with simplified procedures to take advantage: Because many new regulations are more flexible than before, businesses should study them carefully to maximize benefits, helping them prepare documents correctly and avoid wasting effort submitting unnecessary paperwork.

- Take advantage of new incentives and mechanisms: If the business falls under high-tech, innovation, or large export processing enterprises, pay attention to newly expanded preferential policies to register for the AEO (priority) status.

- Businesses with on-site import-export activities need to carefully study the new guidance stipulated in Article 47a of Decree 167 to correctly follow the procedures and take advantage of the clarified policies, avoiding legal risks due to previous misunderstandings.

3. Investment monitoring report (for businesses with investment projects)

• Legal basis: Circular 05/2023/TT-BKHĐT

• Investors are required to submit periodic reports quarterly, semi-annually, and annually.

• Deadline for the 2025 annual report: before February 10, 2026

• Note: Some provincial and municipal investment management authorities may have their own requirements regarding the submission deadlines for the investment monitoring report. Therefore, in this January, businesses need to compile the data and complete the report to submit it on time.

If your business needs support or requires advice on changes in the legal system and obligations to the State that need to be fulfilled, please contact us immediately via:

Email: consultant@txindeco.com

Hotline 84-961 977 764

for detailed consultation.