Recently, the General Department of Taxation has issued a dispatch requesting commercial banks and foreign bank branches to provide information about taxpayers' accounts. This content is made according to Decree 126/2020 / ND-CP guiding the Law on Tax Administration 2019.
Bank account information to provide to tax authorities
After piloting with 5 banks (BIDV, Vietinbank, Vietcombank, MB and Agribank) providing information about taxpayers' payment accounts, the General Department of Taxation proposed foreign bank branches and commercial banks. Commercial banks (referred to as commercial banks) provide through the website of the General Department of Taxation to tax authorities the following information:
- Account name
- Account number
- Account opening date (active start date)
- Account closing date
Tax authorities are responsible for exploiting, storing, transmitting and keeping complete confidentiality of taxpayers' account information.
The process of providing account information to the General Department of Taxation
First, the General Department of Taxation provides the taxpayer's tax identification number to the commercial bank. The Bank is responsible for confidentiality and only uses the information provided by the General Department of Taxation to serve the exchange of information with the General Department of Taxation.
- In case the customer already has tax code information, the commercial bank will compare and provide payment account information according to the tax code.
- In case the customer does not have a tax identification number, the commercial bank will compare the document number according to the taxpayer's tax identification number provided by the General Department of Taxation.
Within 90 days at the latest, commercial banks must make and send a list of taxpayers' first-time payment accounts to the General Department of Taxation. The list includes all valid payment accounts of the taxpayer in the month preceding the month in which the information is provided.
Every month, no later than the 10th of the following month, commercial banks need to provide information on numbers of accounts arising and accounts closed in the period.
