The State Bank requires credit institutions to provide customer account information to tax authorities

On August 12, the State Bank of Vietnam issued Official Letter No. 8/NHNN-TTGSNH to credit institutions and foreign bank branches requesting coordination and information provision to agencies. tax administration in accordance with the Government's regulations.

Requesting credit institutions to provide information to tax authorities

Previously, the General Department of Taxation had sent an official dispatch requesting commercial banks and foreign bank branches to provide information about taxpayers' accounts according to the Government's Decree 126/2020 on guidelines for taxpayers. Tax management Law.

Pursuant to the official dispatch of the General Department of Taxation, the State Bank has requested credit institutions and foreign bank branches to coordinate with tax authorities in accordance with the provisions of:

  • The Tax Administration Law 2019 stipulates the duties, powers and responsibilities of credit institutions and commercial banks in providing taxpayer information.
  • Decree 126/2020/ND-CP detailing a number of articles of the Law on Tax Administration, banks provide information such as account transactions, balances, transaction data of taxpayers at the request. of tax authorities. Tax authorities use this information for the purpose of inspection, checking to determine tax obligations and take full responsibility for the safety of taxpayers' account information.
  • Decree 117/2018/ND-CP of the Government stipulating the principle of keeping secret and providing customer information of credit institutions, foreign bank branches and state agencies.
  • Circulars and guiding documents of the Ministry of Finance (General Department of Taxation) on providing information in accordance with regulations.

5 important legal provisions in the official dispatch of the State Bank

In Official Dispatch No. 5454/NHNN-TTGSNH, the State Bank clearly states the laws related to requesting the bank to provide information to coordinate with tax administration agencies in accordance with the following regulations:

first : Clause 2, Article 27 of the Tax Administration Law 2019 stipulates the duties and powers of commercial banks in providing information about the account number according to the taxpayer's tax identification number when opening an account; Point a, Clause 2, Article 98 of the Law on Tax Administration 2019 stipulates the responsibilities of commercial banks in providing transaction information through taxpayers' accounts; Article 129 of the Law on Tax Administration 2019 provides for coercion and freezing of accounts for enforcement of administrative decisions on tax administration.

Monday : Article 30 of Decree 126 stipulating the duties and powers of commercial banks and payment intermediary service providers; Clause 4, Article 31 of Decree 126 stipulates the responsibilities of credit institutions where organizations and individuals are forced to open accounts.

Tuesday : In Decree 117, Article 4 stipulates on keeping secret and providing customer information; Article 6, Article 7, Article 8, Article 9 prescribe the form, time limit, order, procedures and dossier of request for information provision; Clause 9 Article 10 stipulates the authority to sign documents of units under the tax administration requesting the provision of customer information; Point a, Clause 1, Article 11 stipulates cases where customer information is required; Clause 2, Article 14 provides for the rights, obligations and responsibilities of credit institutions and foreign bank branches; Article 15 stipulates the rights, obligations and responsibilities of State agencies, other organizations and individuals involved in requesting the provision of customer information of credit institutions.

Wednesday : Article 81 of Circular 80/2021/TT-BTC of the Ministry of Finance stipulating the responsibilities of organizations and individuals in Vietnam involved in purchasing goods and services from foreign suppliers.

Thursday: Official Letter 1305/TCT-KK issued on April 26, 4 by the General Department of Taxation, requesting the provision of taxpayer account information in accordance with Decree 2022, in which, guiding banks Commercial banks and foreign bank branches provide information on taxpayers' accounts as prescribed at Points a and b, Clause 126, Article 2 of Decree 30.

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