The State Bank of Vietnam (SBV) and the General Department of Taxation (GDT) have recently agreed on a mechanism to share data between the tax authority and the National Credit Information Center (CIC).

Pham Tien Dung, Deputy Governor of the SBV, stated that tax data is a significant source of information for CIC to assess customer creditworthiness. He emphasized that this is an initial step in the cooperation process, requiring both parties to prioritize security and personal data protection.

Regulatory authorities have not yet specified the exact types of tax data to be shared with CIC.

A transaction at a commercial bank. Photo: Giang Huy.

Banks typically access information from CIC during customer appraisal before granting loans. As an SBV unit, CIC collects, processes, stores, and provides credit information. Currently, CIC gathers 9 categories of information from credit institutions: customer identification, credit contracts, and credit cards. This data does not include card numbers, security codes, or payment transaction history.

SBV leaders indicated that the banking sector is transitioning its credit granting model to rely more on data and cash flow management. The integration of tax data is expected to diversify CIC's data repository, improve credit information quality, and support credit institutions in customer assessment, risk management, and credit granting.