In Official Dispatch 124 dated 30/7, Deputy Prime Minister Ho Duc Phoc noted a recent increase in cash payments. This negatively impacts the economy, wastes resources, and can be exploited for tax evasion, money laundering, and other illegal activities.
Therefore, the deputy prime minister urged ministries, sectors, and localities to immediately implement solutions and strengthen direction and communication to promote cashless payments. These solutions aim to meet the payment needs of people and businesses, save resources, and combat tax loss and crime.
He also instructed relevant authorities to strictly handle violations within their jurisdictions. The Ministry of Finance is tasked with increasing inspections and supervision of state budget payments, tax collection, and regulations on invoices and documents in the trading of goods and services. This agency must promptly and strictly handle organizations, units, and individuals who intentionally make cash payments to evade taxes and violate the law.
The State Bank is required to intensify inspections, supervision, and anti-money laundering measures in banking operations, promptly issuing warnings, detecting, and strictly handling acts of money laundering and improper payments.
The banking sector management agency is also asked to summarize the Cashless Payment Development Project for the 2021-2025 period and report to the prime minister before 1/12, outlining results, difficulties, and proposals to further promote cashless payments.
They are also assigned to continue developing payment infrastructure and technology, while directing credit institutions to provide products and services and invest in and apply information technology in the payment sector. This is to create the best conditions for customers, people, and businesses to make safe, fast, and seamless payments.
Recently, some online shops and stores have refused cashless transactions, accepting only cash. Authorities believe this is done to avoid taxes. This practice emerged after Decree 70 took effect, requiring business households with annual revenue exceeding 1 billion VND in certain sectors (food and beverage, hospitality, retail, passenger transport, cosmetics, entertainment, etc.) to use electronic invoices via cash registers connected to the tax authorities.
According to Hanoi Police, this is a violation of the law and demonstrates a lack of awareness of public financial obligations.
The 2019 Law on Tax Administration stipulates that tax evasion can result in administrative penalties or criminal prosecution. Therefore, authorities advise business households to comply with regulations to avoid "unintentionally violating the law and facing legal consequences".
Phuong Dung
