Vietnam Intensifies Risk-Based Compliance Oversight: What Businesses Should Do Now

Vietnam's regulatory authorities are sharpening their approach to corporate compliance, with tax and sector-specific regulators increasingly relying on risk-based management to identify businesses for inspection rather than conducting broad, routine audits. Recent enforcement results from the tax authorities, together with new inspection plans announced by provincial regulators, indicate that businesses should expect more targeted scrutiny in areas ranging from taxation and related-party transactions to import-export activities, chemicals, energy efficiency, and industrial compliance. The Department of Taxation has confirmed that tax administration is increasingly centered on risk management, using digital data analytics to identify taxpayers that warrant further review. During the first six months of 2026, tax inspections and examinations resulted in authorities recommending tax collections, adjustments, and penalties exceeding VND 34 trillion. This reflects Vietnam’s broader tax administration reform, which aims to improve voluntary compliance while allowing authorities to focus enforcement efforts on businesses exhibiting higher compliance risks. For foreign-invested enterprises (FIEs), multinational groups, and companies with complex cross-border operations, this means that documentation quality, transaction consistency, and digital tax data are likely to receive greater scrutiny. The move towards risk-based oversight extends beyond taxation. For instance, Thanh Hoa province has approved a specialized inspection program covering 87 enterprises and organizations across multiple sectors under the authority of the Department of Industry and Trade. Rather than broad administrative reviews, inspections will focus on compliance with specific regulations. This trend illustrates a broader regulatory trend across Vietnam: inspections are becoming more targeted, data-driven, and sector-specific. Businesses must recognize that tax authorities are gaining greater access to digital information from e-invoices, customs declarations, financial statements, and other government databases. Furthermore, coordination among sector regulators is deepening, making inconsistencies between operational records and tax filings more visible. Regulators are expected to place greater emphasis on whether operational practices align with information reported through tax filings, customs declarations, licensing records, and other mandatory reporting systems. Compliance obligations can no longer be managed in isolation. Businesses should consider taking a more proactive approach to regulatory readiness, including conducting regular internal audits, staying abreast of the latest regulatory requirements, and engaging with experts. As Vietnam strengthens its compliance framework, companies with stronger internal controls and documentation practices will be better positioned to respond efficiently when selected for inspection. Source: Vietnam Briefing