A kiosk selling footwear products. Fintech solutions should focus on simplicity, ease of use and affordability for small businesses and business households. — VNA/VNS Photo Mỹ Hà

HÀ NỘI — Banks and fintech companies play a key role in enabling traders and business households in the shift from lump-sum to revenue-based taxation by providing access to capital, payment solutions and digital tools, experts heard at a conference in Hà Nội on Thursday.

Millions of small business households are facing a major turning point, as the lump-sum tax system is replaced by tax declaration starting in 2026, part of a broader regulatory reform to modernise tax administration and promote a transparent and efficient business ecosystem.

Hà Nội Tax Consulting Company Director Lê Yến said at the conference held by Kinh Tế & Đô Thị (Economy and Urban) newspaper that under Decree 70/2025/NĐ-CP, which took effect on June 1, business households with annual revenues of VNĐ1 billion (US$37,900) or higher operating in sectors like catering services, retail, hotels and supermarkets must use electronic invoices generated from cash registers.

The new rule requires businesses to equip cash registers with software to issue electronic invoices that are automatically transmitted to tax authorities.

From the beginning of 2026, lump-sum tax will be replaced by a declaration-based approach. While the shift does not force households to convert into enterprises, it mandates a change in tax calculation methods.

According to Nguyễn Hồng Trang, Deputy Chairman of the Hoàn Kiếm Ward People's Committee in Hà Nội, an area that is home to more than 4,000 business households and nearly 2,000 small firms, support for technology solutions is key to making the new system work.

Authorities also need to enhance communications to consolidate the trust of small traders and guide them to comply with the new regulations.

Vũ Quỳnh Hương, marketing manager of fintech company 9Pay, said that fintech solutions should focus on simplicity, ease of use and affordability for small businesses and business households. — VNS