Vietnam mandates banks and payment firms to report account data to tax authority

Effective 1 July, Vietnam’s Decree 252 (implementing the 2025 Tax Management Law) requires all domestic banks, foreign bank branches, e‑wallets and payment‑service providers to share detailed account information with the tax authority. The rule expands reporting beyond basic identification to include account balances, transaction histories, cross‑border flows and any activity deemed suspicious for tax evasion or money‑laundering. Data must be submitted electronically each month, no later than the 10th of the following month, and cover account holder name, tax ID, branch details, opening and closing dates, transaction amounts, counterparties, and beneficial‑owner information.

The regulation also obliges media organisations, when requested by tax officials, to forward relevant commercial information. Vietnam’s Ministry of Finance says the expanded data set, covering roughly 250 million accounts, will be analyzed with modern AI tools to detect tax risks swiftly. The State Bank of Vietnam will coordinate the electronic submission process and cooperate with other ministries to enforce the new requirements.