Vietnamese household businesses are not currently fined for delaying or failing to report a bank account unless the tax authority has issued a separate request. If such a request has been issued and is not followed, the fine may reach VND 5 million.
The Tax Department under the Ministry of Finance gave the guidance in a new letter sent to the Dong Thap provincial tax authority. The letter addresses administrative penalties for household businesses and individual business operators.
For delaying or failing to submit a notice containing a bank account number or e-wallet number within the period set by Circular 50 of 2026, no penalty currently applies when the tax authority has not issued a separate request.
Under Circular 50 of 2026, operating household businesses with annual revenue of VND 1 billion or less that had not filed their first-quarter 2026 tax return or had not sent a bank account or e-wallet notice under Circular 18 of 2026 had to submit the notice by July 31.
The Tax Department stressed that a taxpayer may be fined under Decree 125 of 2020 if, after a written request from the tax authority, they fail to provide information or documents, provide them incompletely or inaccurately, or miss the deadline by five working days or more. This includes bank account and e-wallet information.
A fine of VND 2 million to VND 3 million applies when information, documents or legal records related to tax registration, or accounting records used to determine tax obligations, are submitted at least five working days late after the deadline in the tax authority's notice.
A fine of VND 3 million to VND 5 million applies when information or documents needed to determine tax obligations are not provided, are incomplete or inaccurate. This includes information about accounts, deposit balances and payment accounts when requested by a competent authority.
No penalty yet for late or missing revenue notices
For late or missing revenue notices, the Tax Department referred to Letter 7404 dated October 6 on implementing documents related to the 2025 Law on Tax Administration and its appendix.
Household businesses that began operating in the first six months of the year, have actual revenue of VND 1 billion or less and have no liability for excise tax, natural resources tax, environmental protection tax or environmental protection fees must submit a revenue notice using Form 01/TKN-CNKD.
If the notice was not submitted by July 31 or was submitted after that date, the household business is considered to have submitted the revenue notice late or not at all. No penalty currently applies to this violation.
The Tax Department noted that the absence of a penalty does not change the taxpayer's obligation. Household businesses must still report revenue fully and on time under the rules.
In response to proposals to improve administrative tax penalty rules, the Tax Department said it will study the issue when preparing a decree to replace Decree 125 of 2020, which was amended and supplemented by Decrees 310 of 2025 and 291 of 2026.
Sources: Thanh Niên
