MOF, LDB launch easy tax service
MOF, LDB launch easy tax service
The Ministry of Finance has worked in cooperation with Lao Development Bank (LDB) to initiate easy tax payment service systems for the benefit of both business people and personal banking customers.
The system will allow for the payment of taxes through ATMs, mobile banking machines and tellers, which is set to greatly improve convenience for customers.
The celebratory launch of Lao Development Bank's Easy Tax Service took place on Tuesday in Vientiane and was presided over by Deputy Prime Minister in charge of economic affairs Dr Bounpone Bouttanavong.
The official launch was attended by Minister of Finance Dr Lien Thikeo, Deputy Governor of the Bank of the Lao PDR Mr Sonexay Sitphaxay, Managing Director General of the LDB Mr Boualien Phommavongsa, senior officials from line ministries and other invited guests.
Speaking at the event, the Director General of the Taxation Department Mr Sangvone Phanthavilay, said the ministry has not only cooperated with the LDB to introduce easy tax payment service systems as it also joined with the Banque pour le Commerce Exterieur Lao Public to introduce easy tax payment services last year.
In his keynote speech, Mr Boualien, said the system would make it much easier for the payment of tax by business operators and customers.
“It will 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 said.
Mr Boualien was confident the service would be of benefit for business operators, the general public, and the bank's customers and support the economic policy of the government by improving, developing, modernising and expanding its services.
The Lao Development Bank is a state-owned bank which was established in Vientiane in 2003. At present, the bank now comprises 18 branches, 75 service units and 19 mobile service exchange units to provide services for society.
The LDB aims to enhance and promote its reputation amongst all sectors of society as it seeks to secure a good position in the financial services market with the coming integration of the Asean Economic Community in 2015 drawing ever closer.
Throughout its history, the LDB has always focused on technological development as th e way forward in terms of strengthening its organisational structure and the services that it can provide.
The bank shifted from Bank 2000 services to use the Core Banking System (T24) in 2010.
The bank has also developed and improved its products such as ATMs, mobile banking and online statement issuing, catering to domestic and foreign demand.
The LDB is the first bank in Laos to employ the ‘Mobile Banking System on M-Commerce,' which allows tran sactions such as the payment of electrical, telephone and internet bills, the purchase of phone cards, online lottery and money transfers without having to enter a branch or service unit.
