More Banks Join to Serve Electronic Tax Payment

11:24:48 PM | 6/10/2015

The General Department of Taxation has adopted many IT applications in support of taxpayers in an effort to accelerate its administrative reform policy and tax administration modernisation. The General Department has built an electronic portal enabling taxpayers to declare their tax documents on an electronic medium since 2009. After five years of implementation, the programme has received positive responses from taxpayers. Thus far, up to 98 percent of enterprises have registered to use electronic tax declaration. The provision of online tax declaration not only supports taxpayers to simplify paperwork and save time in carrying out tax administrative procedures but also helps the tax sector to automate the recording of declaration information from taxpayers.
 
To continue the success of online tax declaration service, in 2014, the General Department signed cooperation agreements on electronic tax service deployment with five banks, namely the Bank for Investment and Development of Vietnam (BIDV), the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), the Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank), the Vietnam Bank for Agriculture and Rural Development (Agribank), and Military Bank (MB Bank), to launch the service in 18 provinces and cities in the country.
 
Electronic tax payment service helps taxpayers reduce the time and expenses and simplify paperwork when they fulfil their tax obligations. This means help taxpayers to settle tax payment anytime and anywhere they want to. Electronic tax payment also enables the tax service to enhance the effectiveness of tax administration, handle tax collection and payment information quickly and accurately, diversify State budget collection channels. Engaged in this service, commercial banks will save resources for collecting taxes in comparison with the conventional method of collecting over the counter, build up their confidence and prestige to customers, and supply the service at the maximum capacity to customers.
 
From the positive results and the service benefits, in March 2015, the General Department continued to sign cooperation agreements on electronic service deployment with 15 new commercial banks (An Binh Bank - ABBank, Ho Chi Minh City Housing Development Bank - HDBank, Asia Commercial Bank - ACB, Saigon Commercial Bank - SCB, Vietnam Maritime Bank - MSB, Vietnam International Bank - VIB, Vietnam Technological and Commercial Bank - Techcombank, Vietnam Prosperity Bank - VPBank, Saigon Hanoi Bank - SHB, South East Asia Joint Stock Bank - SeABank, TienPhongBank - TPB, Lien Viet Post Joint Stock Commercial Bank - LienVietPostBank, Mekong Housing Bank - MHB, Saigon Thuong Tin Commercial Joint Stock Bank - Sacombank, and Viet Capital Bank), bringing the total number of joining banks to 20 banks. The deployment of electronic tax payment service has received the high consensus of commercial banks and the support of businesses and governments. To date, the service has been deployed in 63 provinces and cities with over 120,000 businesses registering to use. The value of taxes collected via this mean reached VND25 trillion.
 
To further facilitate taxpayers to use electronic tax payment service, on June 2, 2015, the General Department of Taxation signed cooperation agreements to this effect with eight more banks (Vietnam Public Joint Stock Commercial Bank - PVcomBank, Saigon Bank for Industry and Trade - Saigonbank, Orient Commercial Joint Stock Bank - Oricombank, DongA Bank, Southern Bank, Vietnam Export Import Bank - Eximbank, Viet A Bank, and Nam A Bank.)
 
Thus, up to 28 commercial banks join to provide electronic tax payment service for taxpayers.
 
Bui Van Nam, General Director of the General Department of Taxation, said, at the instruction of the Prime Minister and the Ministry of Finance, in 2015, the General Department of Taxation will continue to expand the service to include 90 percent of businesses registering to use this service by September 30, 2015. The General Department expects the enthusiastic and drastic support and effort of commercial banks in deploying electronic tax payment, the active cooperation of media agencies in disseminating information on the service to taxpayers. In the coming time, the General Department will introduce this service to foreign banks and joint venture banks to enable taxpayers with bank accounts to use this service to settle tax payments.
 
Le Hien