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The tax industry does not have the information of all bank account holders, but it is primarily aimed at people who earn large income online but do not pay taxes.
Decree 126, in force since the beginning of December this year, allows the tax authorities to maintain information on balances and details of transactions through individual bank accounts. Additionally, banks will also be “allowed” to collect taxes on your behalf by withholding taxes directly on overseas payment transactions for the purpose of taxing cross-border platforms.
Talk to VnExpressMr. Dang Ngoc Minh, Deputy Director of Taxation, stated that banks are not required to provide information on all customers to the tax authorities. Banks only provide personal account information for certain topics and specific cases required by the tax authorities.
Mr. Dang Ngoc Minh, Deputy Director General of the General Tax Department, once shared it with the press. Image: Quynh Trang.
The primary target audience for the tax industry according to industry experts are those who make money online, such as selling online, or have income from abroad but have not actively paid taxes.
Making money online has become a popular phrase to refer to individual communities or organizations making money online, such as selling online, providing services and content to foreign platforms such as YouTube, Facebook … People with high income online they are still “inactive” in paying taxes because they think the tax industry will not capture their income.
Ms Nguyen Thi Cuc, President of the Tax Advisory Association, said that in the context of tax collection for e-commerce companies facing many difficulties, cooperation with banks will help tax authorities to track transactions from banks. for a more efficient tax administration.
As with singers or artists who produce content on YouTube, the higher the views, the more money they make. This money is transferred from abroad to a personal account and the tax authorities cannot control it without coordination with the bank.
“Traditional entrepreneurs still have to rent offices, shops and incur more expenses, but still file and pay taxes in full. Meanwhile, more modern e-commerce businesses cost If the profit is low, the profit is higher, the tax is avoided, “he admitted.
Therefore, the president of the Tax Advisory Association assessed that the ability of the tax authorities to maintain the information of some people’s accounts is perfectly adequate to guarantee equality between e-commerce and transmission companies. system.
Regarding the confidentiality of information for account holders, the Credit Institutions Law requires that banks do not provide information to third parties, but they are still allowed to provide information to the competent state agencies for the request. Furthermore, Decree 126 also requires the tax industry to have confidentiality obligations and responsibilities when exploiting banks.
Today, many online marketers have huge incomes. Photo: Quynh Trang.
In fact, the provision of data by the bank to tax authorities has also become an international practice that helps tax authorities to verify and inspect. Industry experts asserted that this is a common regulation that has been applied by the world for a long time to create fairness among taxpayers and make information transparent.
However, the bank and the tax industry acknowledged that there were difficulties in the initial implementation.
As one of the largest banks, Vietcombank has millions of customer accounts. Therefore, the representative of this bank said that there are some problems related to the provision of data, so it is still waiting for specific instructions from the tax authority on how to provide information and a focal point for its implementation.
Regarding the obligation to withhold income tax at source for electronic transactions related to Facebook, Google …, the representative of Vietcombank said that, as a payment intermediary, the bank does not have enough information. to determine which transfer is taxable. Direct implementation of the deduction is difficult for banks. Therefore, this bank also expects more specific guidance from the tax authorities.
In view of the above problems, the General Tax Office said that this agency, the State Bank and the Banking Association were discussing and in the process of promulgating a Circular to provide specific guidance.
The tax industry itself also has deficiencies in the implementation of this Decree. Vu Manh Cuong, Director of the Inspection and Inspection Department (General Tax Department) said VnExpress, the processing of data obtained from the bank is also one of the difficulties of this unit. “Banks have an obligation to provide information, but if the data is not correct, it is very difficult to exploit it,” he said.
Additionally, experts also raised concerns that although bank account details have been captured by tax authorities, many online sellers will still miss out on using cash payment methods.
Given this idea, the deputy director of Taxation shared that the tax agency had the strength to monitor social networks and identify which accounts with high-income commercial activities. Every e-commerce transaction has a trace, he said. The tax industry will cooperate step by step with e-commerce units, as well as shipping intermediaries with a large number of customers … to obtain more complete data on the online sales community.
He also stated that the responsibility for registration and declaration lies with individuals and organizations. The objective of the tax authority is to communicate the policy and carry out examinations and inspections.
In fact, since the beginning of July of this year, when the new Tax Administration Law came into force, the inspection agency of the General Tax Directorate has coordinated with more than 40 banks to carry out inspections and audits.
The Inspection Department (General Tax Department) also said that the bank inspection and supervision agency – The State Bank has pointed out 23 cases in which there are cases of individual customers transferring money with paid content to run ads. , they receive money on behalf of many other people from Google, Facebook, Youtube … or have unclear content.
The Inspection Department on September 28 presented to the General Department of Taxation to issue a secret document, sending some local tax departments about the processing of information through these suspicious signals through the banks. Consequently, the General Directorate of Taxation has requested the tax departments to draw up a specific list of individual tax codes to oppose, review and verify the information that will be handled in accordance with the regulations.
Quynh Trang
