The foreign banks are excited to participate in electronic tax payment 24/7

Deputy General Director Nguyen Duong Thai and Mr. Nguyen Phi Hung - Deputy General Director of Mizuho Bank, Ltd. The Ho Chi Minh City branch signed the agreement on cooperation for tax collection 24/7. Photo: T.Trang.

"Our customers are mainly Japanese companies. They are aware of the proposals by the General Department of Customs and they are very interested in this new form of tax payment. They have asked our bank repeatedly when participating in the electronic tax payment 24/7"- Nguyen Phi Hung. - Deputy General Director of Mizuho Bank, Ltd. The Ho Chi Minh City Branch told the reporter of the Customs News about the process of participating in the electronic tax payment 24/7.

This new form of tax payment enables the enterprises to clear their goods more quickly; to simplify tax payment procedures, to save time and costs for the enterprises wherever there is internet, and enterprises can pay actively the taxes at anytime, anywhere, and by every means. The tax payments do not depend on working time and the working place of the collecting agencies such as the banks, State treasuries and Customs, so that enterprises can be much more active.

In particular, this new form of tax payment ensures the information of taxpayers fully. It does not disclose confidential information in the process of exchange, overcomes the limitation of the payment information field when exchanging one or many payment documents through the inter-bank, and overcomes the trading time limit of the commercial banks.

Especially with Mizuho Bank, Ltd., Mr. Nguyen Phi Hung said that this program helped the bank to implement the transactions quickly and avoid the mistakes in tax declaration for the enterprises. Along with that, this new form of tax collection would help the bank to develop and improve payment services for the customers, and attract more potential customers.

According to the regulations, to join the program of electronic tax payment 24/7, the participating conditions of the banks are to supplement and upgrade the information exchange and message receipt software from the General Department of Customs. To transfer the payment orders of taxpayers (check and verify the digital signature of taxpayers, digital signature of the Customs office, and the balance on the account of taxpayers).

At the same time, the commercial banks in collection cooperation, will sign with the taxpayers about the unconditional and irrevocable authorization for the commercial banks to deduct money from the payment account of taxpayers at the commercial bank branches, and to carry out the transaction of tax payment and clearance 24/7. The list and content of taxpayers' documents for the unconditional and irrevocable authorization with the banks are transferred to the General Department of Customs.

Sharing the support of the Customs office with the bank when registering to participate in the electronic tax collection 24/7, Mr. Nguyen Phi Hung said that Mizuho Bank received great support from the Customs authorities in information technology, information exchange software upgrading, as well as legal procedures when the bank participated in this project; including the works of guidance and training for bankers to implement this program.

As the Deputy General Director of Mizuho Bank, Ltd., - Hanoi Branch, Mr. Yasuhiro Kageyama also commented that the branch had more than 1,000 customers taking part in the export – import activities in Vietnam in order to create favorable conditions for customers implementing transactions. The branch participated in electronic tax payment 24/7 in the hope of helping Japanese companies to operate more favorably in Vietnam.

Being a foreign bank, therefore, is such that when joining this program, the procedures are tight and it must be a series of changes and upgrades for operational software as well as the communication channel for receiving information from the General Department of Customs and transferring taxpayer payment orders. Throughout this process the bank has received the highest level of assistance and information coordination from the Customs, especially in terms of information technology as well as the connection between the Customs and the Bank. Especially the information needed to clarify the connection process, and professional technique is always answered quickly and satisfactorily.

Two leaders of 2 bank branches affirmed that Mizuho Bank, Ltd., was very honored to be the first foreign bank to join this new tax program.