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Vietnam Expands Tax E-Payment Service

by Mary Swire, Tax-News.com, Hong Kong

18 August 2015


Vietnam's General Department of Taxation (GDT) has signed agreements with a further 15 domestic and foreign banks to allow taxes to be paid electronically.

The new agreements bring the total number of banks able to provide electronic tax payment services in Vietnam to 42, according to the GDT. Bui Van Nam, the general director of the department, said that the network now covers 63 cities and provinces across the country.

More than 398,000 businesses have already used the e-tax payment services, with the total amount of taxes collected through the online portals having reached VND40.7 trillion (USD1.87bn).

The 15 banks that signed the agreements on August 14, 2015, include Ocean Bank, VietBank, ANZ Vietnam, HSBC Vietnam, Standard Chartered, Shinhan Vietnam, Vietnam-Russia Bank, VID Public Bank, Indovina Bank, Bank of Tokyo-Mitsubishi, Mizuho Bank, Sumitomo Mitsui Banking Corp, Bank for Investment and Development of Cambodia (BIDC), Bangkok Bank Ha Noi branch, and BNP Paribas HCM City branch.

Nam said that the tax department is planning to expand its e-tax payment service to the remaining banks in the country in the near future. It is expected that 90 percent of businesses in Vietnam will use the service this year.

TAGS: Russia | tax | business | agreements | Cambodia | Vietnam | services | Investment | Invest | Banking | Investment | Tax

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