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Government Orders Strict Action Against Cash Payments Used for Tax Evasion

Amid growing concerns over the increasing use of cash transactions, which can facilitate tax evasion and money laundering, Deputy Prime Minister Ho Duc Phoc has signed Official Dispatch No. 124 dated July 30, directing ministries and local authorities to tighten control and promote cashless payments.

Rising Cash Payments Raise Concerns

According to the dispatch, despite strong efforts from the government to expand electronic payments, the use of cash in transactions has risen again, leading to resource inefficiency, reduced financial transparency, and creating opportunities for fraud, tax evasion, and money laundering.

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The Deputy Prime Minister instructed the State Bank of Vietnam to intensify communication, guidance, and support to encourage individuals and businesses to adopt cashless payment methods while ensuring greater security and reliability for online transactions.

Ministry of Finance to Strengthen Oversight

The Ministry of Finance has been tasked with working closely with other agencies to enhance inspection, supervision, and control over budget payments, tax collection, and payment documentation.
Authorities must also monitor compliance with electronic invoicing and payment document regulations as stipulated in the Law on Value-Added Tax and Decree No. 181/2025/NĐ-CP.

The directive clearly emphasizes that:

“Any organizations or individuals who deliberately use cash transactions to evade taxes or commit illegal acts must be strictly punished according to the law.”

Developing Payment Infrastructure and Combating Money Laundering

The State Bank of Vietnam has been assigned to lead efforts to expand digital payment infrastructure in line with Government Resolutions No. 57 and 03, in collaboration with relevant ministries.
By December 1, 2025, the Bank must submit a comprehensive report summarizing the results, challenges, and policy recommendations from the 2021–2025 cashless payment development plan.

The government also calls for stronger monitoring and anti–money laundering efforts within the banking system to detect, warn, and penalize any violations related to financial transactions.

Encouraging Banks to Expand Digital Payment Services

Deputy Prime Minister Phoc urged commercial banks and financial institutions to accelerate the development of electronic payment products, increasing investment in digital technology to make transactions faster, safer, and more transparent for citizens and businesses.

The government emphasized that reducing the use of cash not only helps prevent tax losses but also contributes to building a modern, transparent, and sustainable financial system.

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