From July 1, banks and payment service providers must periodically report information about taxpayers’ payment accounts to the tax authorities, including the account holder’s name, account number under the tax code, place of opening (branch if any), opening date and closing date, and the balances and transaction amounts, as well as the contents of the transactions, to the tax authorities, and to cooperate with the tax authorities when abnormal transactions are detected. This regulation is set out in Decree 252 detailing certain provisions of the Tax Administration Law 2025, effective from July 1.
The measure expands the scope of information that banks and payment services providers must furnish to the tax authorities. The Ministry of Finance says data on transactions and cash flow is the basis for assessing tax risk for individuals and households, prompting proactive reporting of suspicious transactions to support risk analysis rather than relying solely on lists provided by the tax authority. The administration is also building a data ecosystem that combines electronic invoices with information from banks and payment intermediaries to precisely determine taxpayers’ obligations.
Credit institutions, branches of foreign banks, payment service providers, payment intermediaries, online payment service providers (if any) and international card organizations have the responsibility to provide information about taxpayers’ payment accounts opened at banks to the tax authority, and to cooperate with the tax authority when abnormal transactions are detected. The information to be provided includes the account holder’s name, the account number according to the tax code, the place of opening the account (branch if any), and the opening and closing dates. The data must be sent electronically on a monthly basis, no later than the 10th day of the following month. In addition to identifying information, data about transactions should include quantity, value, and content of the transactions; information on the sending and receiving parties; domestic and cross-border transactions; balances, end-of-period balances, and incomes arising from the account. Additionally, information about beneficial owners, authorized persons, co-owners, beneficiaries, and related parties is also required. Institutions are also required to share information about suspicious or unusual transactions in accordance with anti-money laundering laws. Data provision can be periodic or upon request by the tax authorities.
Under previous rules, banks only had to periodically provide information on the account holder’s name, account number, place of opening, and opening/closing dates; data on transactions and balances were provided only when the tax authority requested during audits or for tax determination or enforcement. The new regime significantly enlarges the scope of information Banks must provide.
The tax administration aims to proactively collect data on transactions and cash flow to support risk analysis and determine taxpayers’ obligations more precisely. The Ministry of Finance states that the information on transactions and cash flow will be used to assess tax risk for individuals and households and to supplement screening against lists provided by the tax authority, while simultaneously building a broader data ecosystem with electronic invoices and data from banks and payment intermediaries.
The source material does not include independent expert commentary; additional perspectives may be available from follow-up regulatory communications.
