MB, tax authorities sign cooperation agreements to expand digital tax payment services

Military Commercial Joint Stock Bank (HoSE: MB) has signed cooperation agreements with Vietnam's General Department of Taxation and 20 provincial/municipal tax authorities to expand digital tax payment services and strengthen data connectivity between the banking and tax systems.

Following the latest agreements, MB said it has established partnerships with all 33 provincial/municipal tax departments where the bank operates branches.

The agreements aim to integrate bank accounts with electronic tax platforms, promote cashless payments and enable businesses, household businesses and individual entrepreneurs to fulfil their tax obligations more conveniently through digital channels.

The signing ceremony, held in a hybrid online and in-person format, was attended by executives from MB, the General Department of Taxation and representatives from tax authorities across the country.

MB general director Pham Nhu Anh said the cooperation would simplify tax compliance for millions of businesses and individual taxpayers.

"Leveraging our strong digital infrastructure and technological capabilities, MB is committed to working closely with the tax authority to expand electronic tax payment solutions, promote cashless transactions, support data connectivity for tax compliance and improve access to banking services," he said.

Mai Son, deputy head of the General Department of Taxation, said the tax authority expects MB to remain a key partner in supporting the development of Vietnam's private sector and advancing tax administration reforms through greater digital connectivity.

The agreements come as Vietnam introduces new tax administration regulations requiring greater digitalization.

The government's Decree 68/2026, which took effect in March, introduced new requirements for household businesses and individual entrepreneurs, including electronic invoicing, digital revenue reporting and tax declarations based on actual turnover.

Separately, amendments to the Law on Tax Administration effective from July 1 are expected to further modernize tax management and encourage wider adoption of digital tax services.

Enhancing partnership effectiveness through a distinctive strategy

The core of the partnership program between MB and the General Department of Taxation focuses on supporting taxpayers throughout their entire development journey - from the initial stages of business establishment and tax code registration, through ongoing management, operations, and tax filing and payment, to accessing bank credit for business expansion based on a transparent tax compliance history.

As part of the cooperation, MB said it will provide advisory services for newly established businesses through its BIZ MBBank digital banking platform, offer training programs on tax compliance in coordination with tax authorities, and develop automated lending products for small and medium-sized enterprises using electronic invoice data and tax compliance records.

The bank said eligible SMEs will be able to access unsecured loans of up to VND5 billion ($190,190), with disbursement within two working days through a fully digital process on the BIZ MBBank platform.

MB also introduced MB Seller, a digital solution designed for household businesses and individual merchants. The platform integrates payment services, business management tools, electronic invoicing, online tax payment and financing products, aiming to help small businesses digitize operations and improve tax compliance.

MB was established in 1994 and is currently one of Vietnam's leading joint-stock commercial banks, serving 38 million customers.

With a vision to become a leading digital financial group, the bank has been building a comprehensive digital financial ecosystem comprising eight subsidiaries operating in sectors such as banking (MBCambodia, MBV), securities (MBS), fund management (MBCapital), insurance (MIC), life insurance (MB Life), debt and asset management (MBAMC), and consumer finance (Mcredit).

Leveraging two flagship digital platforms - the MBBank App and BIZ MBBank - alongside a network of over 300 branches and transaction offices, MB handles tens of millions of transactions daily.