Tax Authority Orders Bank-Account Freezes for Several Enterprises Over Tax Arrears

The Ho Chi Minh City Tax Department’s Branch 24 has issued multiple enforcement decisions requiring banks to freeze debtor accounts and deduct funds to collect tax debts. The measures apply to companies with tax arrears exceeding 90 days from the due date.

Account freezing and fund deduction orders

Under Decisions Nos. 297, 298, 299 and 300/QĐ-TCS 24, the tax authority ordered the freezing of the bank accounts of Bac Services Co., Ltd. (157 Ngo Duc Ke, Tam Thang Ward, Ho Chi Minh City; tax code 3502281511). The seized amount is 29.4 million VND.

The decisions were sent to the taxpayer and to banks holding the company’s accounts, including Techcombank Vietnam – Vung Tau Branch, VPBank – Vung Tau Branch, TP Bank, and Saigon Thuong Tin Bank – Vung Tau Branch. The tax authority also required the banks to deduct funds from the accounts and remit them to the tax authority.

If the account balance is lower than the seized amount, banks must still deduct the remaining funds after maintaining the minimum balance, and continue monitoring and deducting any additional funds that accrue while the decision remains in effect.

Similar enforcement actions for Vnbuild

For Vinbuild Investment Joint Stock Company (Vnbuild) at 459/12/5 Truong Cong Dinh, Ho Chi Minh City, the tax authority issued Decisions Nos. 301, 302, 303 and 304/QĐ-TCS 24 with similar enforcement content. Vnbuild also has tax debt beyond 90 days, and the seized amount is 28.4 million VND.

Banks holding Vnbuild’s accounts include Techcombank – Vung Tau Branch, Agribank – Vung Tau Branch, Agribank, and TP Bank. The banks are required to freeze the accounts for the specified amounts. If a remaining balance exists during the decision’s validity period, banks must notify the tax authority so that further enforcement can be issued to deduct additional funds from the accounts.

Freezing orders issued for other enterprises

The Ho Chi Minh City tax office also issued account-freezing orders for other enterprises, including:

• Company TNHH 429: 23.8 million VND
• Company TNHH Trading and Computer Services Phuoc Bao: 67.8 million VND
• Company P.M.C LLC: 358 million VND
• Company TNHH TM-DV Gia Bao Engineering: 3.7 billion VND
• Company TNHH Tourism and Events Tin Phat: 6.4 million VND

Legal basis and enforcement measures

The Tax Administration Law No. 108/2025/QH15 takes effect on July 1. Under the law, tax authorities may enforce tax collection through measures including deducting money from debtor accounts at financial institutions, freezing accounts, deducting part of wages or income, stopping customs procedures, suspending invoices, seizing assets, and other actions, including bankruptcy procedures where applicable.