Conference "Transforming the model and method of tax management and cash flow of business households when eliminating lump-sum tax"

On December 6, Loc Phat Vietnam Commercial Joint Stock Bank coordinated with Ninh Binh Province Tax Department 1 and MISA Joint Stock Company to organize the Conference "Transforming the model and method of tax management and cash flow of business households when eliminating lump-sum tax".

Signing of a 3-party Memorandum of Understanding between Loc Phat Commercial Joint Stock Bank Vietnam, Ninh Binh Province Tax Department 1 and MISA Joint Stock Company, to support business households in digital transformation, standardize revenue management and fulfill tax obligations conveniently, transparently and sustainably.

Delegates attending the conference.

At the conference, three units including Loc Phat Vietnam Commercial Joint Stock Bank, Ninh Binh Province Tax Department 1 and MISA Joint Stock Company signed a Memorandum of Understanding on cooperation, marking an important first step in establishing a comprehensive coordination mechanism between the Bank - Tax Authority - Technology Enterprise. The cooperation agreement aims to support business households in digital transformation, standardize revenue management and fulfill tax obligations in a convenient, transparent and sustainable manner.

The conversion of tax management methods according to Decree 70 of the Government and Decision 3389 dated October 6, 2025 of the Ministry of Finance approving the project "Converting tax management models and methods for business households when eliminating lump-sum tax" is a big step towards transparency, fairness and convenience for all business households. This is the stage of laying the foundation, creating new standards for tax management in the coming time. From January 1, 2026, lump-sum tax will be officially eliminated; business households will switch to a new tax calculation method in the form of self-declaration. To meet the conversion requirements, the application of accounting software and electronic payment solutions is considered necessary, at the same time contributing to promoting digital transformation in the province, improving transparency, management efficiency and opening up new development opportunities for the private economic sector.

Mr. Mai Xuan Long, Head of Tax Department 1 of Ninh Binh province, disseminated the content of converting the model and method of tax and cash flow management for business households when eliminating lump-sum tax.

At the conference, officials of the Ninh Binh Provincial Tax Department 1 disseminated the content, procedures and important changes in the new tax policy. The problems of business households related to taxes and cash flow when eliminating lump-sum tax were also satisfactorily answered by experts.

Businesses learn about sales solutions, invoicing and tax declaration.

Nguyen Thom - Minh Quang

Source: https://baoninhbinh.org.vn/hoi-nghi-chuyen-doi-mo-hinh-phuong-phap-quan-ly-thue-va-dong-tien-ho-kinh-doanh-251206150848341.html