Do Household Businesses Have to Declare All Bank Accounts and E-Wallets to Tax Authorities from March 5, 2026?

From March 5, 2026, when Decree 68/2026/ND-CP officially takes effect, many household businesses and individual entrepreneurs are paying close attention to regulations regarding the notification of bank accounts and e-wallets to tax authorities.

A common question is whether household businesses are required to declare all bank accounts and e-wallets. In reality, the law does not require the declaration of all personal accounts. Instead, it only requires notification of accounts related to business activities. Understanding this correctly helps household businesses avoid confusion and properly comply with tax obligations.

1. Regulations on Notification of Bank Accounts and E-Wallets of Household Businesses

According to Article 13 of Decree 68/2026/ND-CP, household businesses and individual entrepreneurs are responsible for:

• Fully and accurately declaring revenue arising from business activities to determine tax obligations.

• Notifying tax authorities electronically of all:

  • Bank account numbers opened at payment service providers (banks).

  • E-wallet accounts opened at intermediary payment organizations.

However, this requirement only applies to accounts and e-wallets used for production and business activities.

In other words, not all personal bank accounts or e-wallets must be declared. Only those used to receive sales revenue, process service payments, or conduct business transactions are subject to notification.

Deadline for submission: Before April 20, 2026 for existing household businesses and individuals.

2. Cases Where Household Businesses Must Declare Accounts

Under the new regulations, household businesses must notify tax authorities if a bank account or e-wallet is used for business purposes, such as:

• Bank accounts used to receive sales payments

• Accounts linked to e-commerce platforms

• E-wallets used to receive customer payments

• Accounts used to collect service fees

Notifying these accounts allows tax authorities to cross-check revenue, manage tax obligations, and reduce tax evasion risks.

3. Cases Where Declaration is Not Required

Conversely, accounts not related to business activities are not required to be reported to tax authorities.

Examples include:

• Personal bank accounts used solely for household expenses

• E-wallets used for personal shopping

• Accounts receiving transfers from family members

• E-wallets used for personal service payments

In these cases, declaration is not mandatory because the transactions are not related to business activities.

4. Illustrative Examples of Account Declaration

Below is a simple table to distinguish between cases that require declaration and those that do not:

General rule:

• If the account/e-wallet is used for business → Must be declared

• If used only for personal purposes → Not required

5. Timing for Determining Revenue for Personal Income Tax (PIT)

In addition to regulations on bank accounts, Decree 68/2026/ND-CP also clearly defines the timing for determining revenue for personal income tax purposes:

For Sale of Goods

Revenue is recognized at the time when ownership or usage rights of goods are transferred to the buyer.

Example:
A household business sells electronic equipment and delivers the goods on April 10. Revenue is recognized on April 10, regardless of whether payment is made before or after that date.

For Provision of Services

Revenue is recognized at the time when the service is completed or when each part of the service is completed.

Example:
A household business provides repair services and completes the work on May 15. Revenue is recognized on May 15.

Accurately determining the timing of revenue recognition is essential for correctly calculating tax obligations.

6. Principles for Tax Declaration and Calculation for Household Businesses

According to Article 8 of Decree 68/2026/ND-CP, tax declaration and calculation for household businesses are based on a revenue threshold of VND 500 million per year.

Cases with Revenue of VND 500 Million or Less

If the household business determines that its annual revenue does not exceed VND 500 million:

• Only required to report actual revenue to tax authorities

• Deadline: No later than January 31 of the following year

This simplifies tax administration for small household businesses.

Cases with Revenue Exceeding VND 500 Million

If actual revenue exceeds VND 500 million per year, the household business must:

• Declare and pay taxes

• Begin declaration from the quarter in which the revenue exceeds the threshold

Applicable taxes may include:

• Value Added Tax (VAT)

• Personal Income Tax (PIT)

Tax payable is determined in accordance with Decree 68/2026/ND-CP.

7. Role of E-Invoices and Tax Management Systems

In cases where household businesses use:

• E-invoices with tax authority codes

• E-invoices generated from cash registers connected to tax systems

The tax management system can automatically generate tax returns based on:

• E-invoice data

• Tax administration data

• Information from relevant organizations

This mechanism helps:

• Reduce manual declaration workload

• Minimize errors in tax filing

• Increase transparency in revenue management

However, it is important to note that system-generated returns do not replace the taxpayer’s responsibility. Taxpayers remain fully responsible for the accuracy and truthfulness of their tax declarations.

Conclusion:

From March 5, 2026, under Decree 68/2026/ND-CP, household businesses are required to notify tax authorities of bank accounts and e-wallets related to business activities. However, not all personal accounts must be declared. Accounts used solely for personal or household purposes are not subject to this requirement. Therefore, household businesses should clearly separate business accounts from personal accounts to ensure compliance with legal regulations and reduce tax risks during inspections.

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Viet Australia Auditing Company is an independent auditing organization licensed and established in 2007 in the Socialist Republic of Vietnam.