Agribank supports household businesses: simplifying tax declarations and enabling a secure transition to a corporate form

Against a backdrop of increasingly standardized and transparent tax policies, millions of household businesses in Vietnam are facing a strong push to shift from the khoán tax model to declaring taxes based on actual revenue. To understand these changes, Agribank has proactively rolled out a comprehensive ecosystem of solutions to help household businesses declare taxes easily, manage efficiently, and be ready to transition into enterprises. In particular, under Decree 70/2025/ND-CP, household businesses with annual revenue from 1 billion VND or more are required to use electronic invoicing from electronic cash registers, and transmit data to the tax authorities in real time. In this context, the transition from household business to enterprise is becoming an inevitable trend for many with moderate revenue, to comply with the law, enhance governance capacity and improve access to capital and markets. During this critical transition period, Agribank is providing support, acting as a key intermediary, offering both financial and technological solutions to help household businesses convert into enterprises. The Breakthrough Transformation – Elevating the Enterprise solution package: - Free account management - Free Agribank eBanking online banking service - Complimentary 1POS sales solution package - complimentary electronic invoicing solution Invoice Not only financial services, Agribank also provides a synchronized digital toolkit including electronic invoices, digital signatures, sales software and cash flow management solutions, helping enterprises move from manual bookkeeping to modern cash-flow governance. This makes tax declarations more accurate, transparent and helps control revenue and costs efficiently. Especially, when sales data is integrated with the electronic invoicing system generated by the sales system, the tax declaration process becomes nearly automated, forming an integrated part of business operations, helping enterprises optimize resources and focus on sustainable development. Additionally, new household businesses that convert to enterprises and open their first settlement accounts with Agribank will receive gifts, reduced fees for opening aesthetically-numbered accounts, support for using the Fortune Bell product to notify balance changes, with offers valid until 30 June 2026. Credit incentives, reducing financial pressure One of the major barriers for household businesses when converting to enterprises is capital costs. To unlock credit capital for production and business activities, Agribank implements preferential lending policies to help businesses access funds more easily, with loan rates below the ordinary lending rate floor by up to 0.6% per year, with a scale up to 100,000 billion VND reserved for SMEs. In addition, the bank applies flexible funding forms tailored to the specifics of each business model. Thanks to these policies, post-conversion enterprises not only have stable capital to sustain operations but also can expand production, improve competitiveness, and gradually participate more deeply in formal supply chains. International trade incentives In addition, Agribank broadens support for enterprises through modern international trade services. Post-conversion businesses will be advised on using international trade service products suited to their needs, along with FX and transaction fee support policies, thereby enhancing competitiveness and gradually integrating into larger markets. Connecting banks and tax authorities The branches actively coordinate with tax authorities to organize counseling and direct guidance to household businesses in their areas. A key highlight of Agribank's strategy is close cooperation with tax authorities from central to local levels to help household businesses and enterprises fulfill tax obligations more conveniently. Through this coordination, households and enterprises are supported to open accounts, file electronic taxes, access payment solutions and gradually adopt modern management methods, aiming for a one-touch process on the digital banking platform. At local levels, branches proactively coordinate with tax authorities to provide direct guidance, register services and implement solutions suited to business realities. This ensures households can confidently transition and quickly adapt to new regulations. Through this integrated approach across finance, technology, and policy, Agribank is taking steps to promote tax compliance, strengthen governance and move toward transforming the business model into enterprises. This is not only an effort by Agribank, but part of a larger process to modernize the economy and promote sustainable development of the private sector in Vietnam.