The State Bank of Vietnam (SBV) will have to coordinate with tax authorities to provide information about related people of bank leaders and major shareholders, according to the provisions of Decree 20/2025/ND-CP recently issued by the Government.
Tightening management of financial transaction information
The SBV is responsible for providing information on foreign loans and repayments of each enterprise with associated transactions according to the list required by the tax authority. The data includes:
Loan turnover, interest rates, interest payment terms, principal
Current capital withdrawal situation, debt repayment situation (land acquisition, interest)
Other relevant information (if any)
In addition, the SBV must coordinate to provide information about the following people:
Members of the Board of Directors, Board of Directors, Supervisory Board, General Director, Deputy General Director (or equivalent positions according to the charter of credit institutions).
Shareholders owning 1% or more of the charter capital of a credit institution.
Associated company of a credit institution.
Enhancing transparency in the financial system
Providing this data will help tax authorities more closely control the tax obligations of credit institutions and enterprises with related transactions.
Previously, the Law on Credit Institutions 2024 also added a regulation requiring banks to provide information about the relatives of major shareholders to enhance transparency and financial supervision in the banking industry.
