MOF, BCEL to launch new tax payment systems
MOF, BCEL to launch new tax payment systems
The Ministry of Finance is cooperating with Banque pour le Commerce Exterieur Lao Public (BCEL) to introduce new and easy tax payment service systems for the benefit of both business people and personal banking customers.
BCEL reported yesterday that the two sectors will start testing the use of the Smart Tax card next week, on October 1; and the testing will take about few weeks to see if the system works properly.
A BCEL official said that the testing will take place among about 20 to 30 major companies that have volunteered to trial the use of the service.
The new system will be for the payment of taxes, duties and fees, which will greatly improve convenience for customers.
“This system will make it much easier for the payment of tax by the import companies at the border checkpoints,” he said.
“It will also help eliminate many documents and steps in the tax payment process; the important factor is there is no need to carry cash, there is no need to recheck cash payments and no risks involved with transportation.”
He explained that the card will be only for the tax payments, it will not be able to be used for money withdrawals or used as an ATM card.
The new service product will be of benefit for business operators, general people, and the bank's customers and support the economic policy of the government by improving, developing, modernising and expanding its services.
The development of the Smart Tax card comes in response to demand from customers. The bank will also plan to expand such services to other banks in Laos. It wants to upgrade its cards and services to give customers more security.
“We also plan to cooperate with other banks on the use of such new service systems,” he said.
BCEL will continue to further develop services to ensure that customers can pay for other bills. It is continuing to grow gradually, improving its accumulated assets, deposits, loans and number of clients.
Inside Laos the bank has 18 branches, 20 service units and 10 foreign exchange service offices. BCEL has over 100 correspondent banks worldwide.
The bank expects to modernise and move towards reaching international standards over the period from 2013 to 2020.
Banque pour le Commerce Exterieur Lao Public was established at the end of the year 1975, when Laos achieved liberation and has undertaken its activities since 1976.
vientiane times
