In the process of operation, many business households use bank accounts to receive sales money, pay partners or transact through digital platforms but have not fulfilled the obligation to notify the directly managing tax authority.
According to the provisions of tax management law, bank account information is one of the important data to serve in determining tax obligations of taxpayers. Failure to provide or slow provision of account information may affect the data comparison process and revenue management.
In the context of tax management shifting strongly to electronic methods according to Decree 68/2026/ND-CP and Circular 18/2026/TT-BTC, the obligation to update bank account information to serve business operations becomes a mandatory requirement for business households.
The fine can be up to 16 million VND if account information is not provided.
According to Article 19 of Decree 125/2020/ND-CP, amended and supplemented by Decree 310/2025/ND-CP, the act of violating the obligation to provide account information of taxpayers is penalized according to specific levels.
In case of providing information related to a bank account beyond the deadline of 5 days or more as required by the tax authority, the fine applied is from 2 to 6 million VND.
In case of providing inaccurate information about the taxpayer's account at a credit institution, state treasury or foreign bank branch, the fine is from 6 to 10 million VND.
For acts of not providing account information as prescribed or at the request of tax authorities, the fine can be up to 10 to 16 million VND, which is the highest penalty in this group of acts.
In addition to the fine, the violator must also take remedial measures to provide complete and accurate account information as prescribed.
Bank account information directly related to revenue management of business households
Bank account information is currently one of the important bases for tax authorities to compare transaction data in the tax management process for business households.
In the condition that business households switch to declaring according to actual revenue instead of the previous fixed tax method, standardizing bank account data helps ensure that the tax declaration process, use of electronic invoices and fulfillment of tax obligations take place accurately and conveniently.
Proactively reviewing and promptly updating bank account information not only helps business households limit the risk of administrative penalties but also contributes to ensuring stable business operations in an increasingly digital tax management environment.
