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The General Department of Taxation “looks closely” at sellers on Facebook and Youtube

This is a regulation implemented in accordance with Decree 126/2020 of the Government guiding the Tax Administration Law, including online business on cross-border platforms.

Previously, 5 commercial banks, namely Bank for Industry and Trade (Vietinbank), Foreign Trade (Vietcombank), Investment and Development (BIDV), Military (MB) and Agriculture and Rural Development (Agribank) were approved. pilot implementation of providing information about taxpayers’ payment accounts to tax authorities.

Squeezing revenue from online business, the tax industry requires providing bank account information - Photo 1.

The tax industry requires commercial banks to provide taxpayer information.

Regarding information, the Commercial Bank must provide the tax authority with the account holder’s name, number, date of opening (operation, date of closing the account to the tax authority (via the portal of the General Department of Taxation).

The tax authority’s responsibility is to exploit, transmit, store and completely keep confidential the taxpayer’s information provided by the bank.

Regarding the process, the General Department of Taxation provides the taxpayer’s tax identification number to the commercial bank, the customer’s payment accounts have tax identification information, and the commercial bank compares and provides information. payment account according to tax code.

In case the customer does not have a tax identification number, the commercial bank will compare the number and type of papers provided by the General Department of Taxation with the taxpayer’s tax identification number.

Commercial banks are responsible for confidentiality and only use information provided by the General Department of Taxation to serve the exchange of information with the General Department of Taxation.

According to the General Department of Taxation, within 90 days at the latest, commercial banks make and send a list of payment accounts of taxpayers for the first time to the General Department of Taxation, including all remaining payment accounts of taxpayers. validity of the month preceding the month of information provision.

Every month, commercial banks provide information about new account numbers arising in the period and accounts with closing dates in the period.

Previously, in 2020-2021, the General Department of Taxation had planned to supervise tax activities arising in business on cross-border e-commerce platforms, including services of Google, Youtube, Facebook…

Currently, the cross-border e-commerce business market is booming, many individuals, organizations, individuals and businesses have large revenue, but the situation of correct and sufficient payment and outstanding tax debt and tax evasion still occurs. , causing losses to the State budget.

Therefore, the tax authority has considered a plan to force commercial banks to publicize account information, especially payment accounts, to facilitate better monitoring and management of revenue.

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