From July 1, banks payment service providers and intermediaries must share account data of taxpayers to the tax authorities. — VNA/VNS Photo

HÀ NỘI — Banks, payment service providers and intermediaries in Việt Nam must regularly share taxpayers' account information with tax authorities, according to a new government decree taking effect on July 1.

Under Decree No. 252/2026/ND-CP, which provides detailed guidance for implementing provisions of the Law on Tax Administration, credit institutions, foreign bank branches, payment service providers, payment intermediareis, online payment service providers and international card organistions must submit taxpayers' payment account information electronically using data formats specified by the tax authority.

The information must be provided monthly, no later than the 10th day of the following month, including the account holder's name, account number linked to the taxpayer identification number, the bank or institution and branch where the account is opened and the dates the account was opened and closed.

The institutions must also provide transaction-related information when requested for tax administration purposes, including the number and value of transactions, transaction details, information on senders and recipients, domestic and cross-border transactions, account balances, end-of-period balances, income generated from accounts and other information permitted under established regulations.

The institutions are also required to report unusual or suspicious transactions in accordance with anti-money laundering regulations, as well as information under financial account reporting standards applicable to non-resident taxpayers in Việt Nam and other reporting requirements consistent with standards set by the Global Forum on Transparency and Exchange of Information for Tax Purposes.

The decree said that that institutions supplying the information will not be liable for how the data is used after it has been lawfully provided. The use of data must be in accordance with established regulations.

The State Bank of Vietnam is tasked to share licensing information on banks, credit institutions and payment intermediaries with tax authorities while coordinating with tax authorities in enforcing tax administration decisions and establishomg oversight mechanisms for cross-border payment transactions in e-commerce and digital platform businesses. — BIZHUB/VNS