Vietnam expands tax rules, banks must share data and travel bans eased

Effective 1 July 2026 the Vietnamese government issued two decrees that overhaul tax administration. Decree 252 expands the scope of the Law on Tax Management, requiring banks, credit institutions and payment‑service providers to submit, by the 10th of each month, detailed information on customers’ accounts – including balances, transaction amounts, counterparties, cross‑border flows and suspicious activity – to the tax authority. The decree also broadens the circumstances under which a travel‑ban (temporary suspension of exit) can be lifted, allowing the tax office to cancel the ban when a taxpayer’s outstanding debt falls below VND 50 million for individuals or VND 500 million for businesses and the debt is overdue by more than 120 days.

Decree 253 provides detailed guidance on the 2025 Personal Income Tax Law. It lowers the monthly taxable‑income threshold to VND 28.6 million, raises personal and dependent deductions (up to VND 15.5 million per month for the taxpayer and VND 6.2 million per month per dependent), and adds new deductible amounts for health‑care (VND 23 million per year) and education (VND 24 million per year). The decree widens the definition of taxable real‑estate income beyond simple sales, covering transfers of land‑use rights, rights attached to land, future‑built houses, lease‑rights, and contributions of property to capital. It also lists 22 specific cases that are exempt from personal‑income tax, such as the sale of a sole residence held for at least 183 days, certain agricultural incomes, and various government‑bond and scholarship earnings. Additional reliefs include tax‑free night‑shift wages, meal allowances up to VND 1.2 million per month, severance payments above statutory limits, and voluntary pension contributions.