The tax authorities are strengthening their bank data reconciliation efforts.

VTV.vn - The Tax Department will strengthen the comparison of electronic invoice data with payment flows through banks, e-wallets, and related platforms...

The tax authorities are strengthening their bank data reconciliation efforts.

The tax authorities will strengthen the comparison of electronic invoice data with payment flows through banks, e-wallets, and related platforms to closely monitor the actual business operations of taxpayers. This information was presented at the workshop "Tax Management Based on Cash Flow: Peace of Mind for Businesses, Transparent Taxation" organized by the Tax Department this morning.

A representative from the Tax Department stated that the tax sector is strongly shifting from manual management methods to digital data-driven management. Currently, the tax authorities have data related to approximately 250 million bank accounts, including about 200 million individual accounts, to support the verification and management of tax obligations, especially for online businesses, e-commerce, and household businesses.

However, not all personal transactions are subject to scrutiny or taxation. Tax authorities primarily focus on cash flows that appear to be related to business activities but have not fully declared revenue, such as accounts that frequently receive online sales payments, transactions with unusually high frequency, continuous cash flows from multiple accounts, or actual revenue that does not match declared tax levels.

Meanwhile, ordinary civil transactions such as personal loan transfers, gifts, or personal living expenses will not be subject to tax management if they do not involve taxable business activities.

Representatives from the Tax Department also affirmed that managing account data does not mean the tax authorities are free to inspect all personal transactions. Providing information must still comply with legal regulations regarding tax management, banking, and data security.

Source: https://vtv.vn/nganh-thue-tang-cuong-doi-chieu-du-lieu-ngan-hang-100260520213707967.htm