Vietnam tax agency to obtain detailed bank account data from banks

The draft decree under review would require banks, credit institutions, payment intermediaries and international card issuers to supply the tax authority with comprehensive information on taxpayers' bank accounts. Data to be provided include personal identification, account numbers, opening and closing dates, transaction volumes, values, content, counterparties, domestic and overseas transfers, balances, and details of beneficial owners and any suspicious activity.

The provision applies regardless of whether an individual or household has formally registered a business. Tax officials can use bank transaction data, electronic invoices and citizen reports to detect undeclared business activities. Those found operating without registration may be ordered to register and face back‑tax assessments based on actual revenue. As tax consultant Lê Văn Tuấn explained, “Even if not registered, as long as there is business activity… the tax authority can still manage and enforce obligations.” The draft is being examined by the Ministry of Justice and relevant agencies before adoption.