More Banks Added to Serve Online Tax Payment

 

Fifteen signing banks include An Binh Bank (ABBank), Ho Chi Minh City Development Bank (HD Bank), Asia Commercial Bank (ACB), Saigon Commercial Bank (SCB), Vietnam Maritime Bank (MSB), Vietnam International Bank (VIB), Vietnam Technical Commercial Bank (Techcombank), Vietnam Prosperity Bank (VPBank), Saigon Hanoi Bank (SHB), Southeast Asia Commercial Joint Stock Bank (SeABank), TienPhong Bank (TPB), LienVietPostBank, Mekong Housing Bank (MHB), Saigon Thuong Tin Bank (Sacombank), and Viet Capital Bank.

 

According to the agreement, these banks will build and implement a system for exchanging information and managing the database on online tax payments. The service will also use digital signatures to verify the legality and validity of online information and data. The service helps enterprises simplify procedures, save time and pay tax obligations at any time.

 

Speaking at the signing ceremony, Mr Bui Van Nam, General Director of the General Department of Taxation (GDC), said that, in 2014, GDC signed a cooperation agreement to deploy electronic tax services with five commercial banks in 18 provinces and cities. The banks include Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Bank for Agriculture and Rural Development (Agribank), and Military Commercial Joint Stock Bank (MB).

 

Taxpayers do not need to go to banks in working hours to have their tax payment done, thus saving time and costs. They can also track and update the status of their tax payments, as well as use value added services offered by the banks.

 

The electronic tax payment service also enhances the efficiency of tax administration, process tax collection and payment information quickly and accurately, thus helping diversify State budget collection channels.

 

Mr Nam added that the electronic tax payment service is appreciated and supported by commercial banks, businesses and local governments. As of February 2015, the service was deployed in 18 provinces and cities, used by more than 24,000 businesses. This method collected VND14 trillion for the State Budget.

 

Speaking on behalf of 15 signatories, officials from HDBank and Sacombank noted that the service is of great significance to banks. This is a big step in the bank-tax authority cooperation programme in State budget collection. It will also help tax authorities update information on tax payers in a timely fashion, and reduce mistakes that had led to the process of tax administration reform. Banks are committed to investing in infrastructure and personnel for the service while working with tax authorities to build trust among taxpayers and help them change from conventional service to more rapid, convenient and secure electronic method.