KBank supports Revenue Department in pioneering e-Tax Invoice and e-Receipt service

Stocks and Financial Services Press Releases Monday June 24, 2019 14:02
Bangkok--24 Jun--KASIKORNBANK

KASIKORNBANK PCL (KBank) will be the trailbrazer in launching the e-Tax Invoice and e-Receipt service to allow business operators to submit these documents to the Revenue Department with swiftness while also reducing their tax management cost.

Ms. Kitiya Rerkpooritat, KBank First Senior Vice President, revealed that the Revenue Department has developed the e-Tax Invoice and e-Receipt systems in line with the international standard as part of its effort to upgrade the Thai payments system in order to accommodate financial transactions and economic activity in a comprehensive manner via the e-Payment. The initiative will be instrumental in driving forward the Thai economic activity while also enhancing the business sector's competitiveness.

KBank has supported the policy initiative by being the first commercial bank which has developed e-Tax Invoice and e-Receipt to increase the business operators' tax management efficiency and accuracy in accordance with the Revenue Department's format, allowing them to comprehensively improve their financial management. The electronic system will streamline funds acceptance and payment as well as tax management process, thus speeding the issue of e-Tax Invoice and e-Receipt with lower cost when compared to paper records.

Additionally, the online service presents a new channel for retail customers to apply for tax invoices and receipts electronically, reducing burden in document storage and risks associated with the loss of paper-based documents.

Latest Press Release

SET and IPPD join hands to foster research on sustainable development

The Stock Exchange of Thailand (SET) and The Institute of Public Policy and Development (IPPD), under the Thai government think tank, signed a memorandum of understanding (MoU) to jointly conduct insightful and practical researches to benefit the...

Photo Release: Outstanding Women Leaders for Green Growth Award

Recently, at Grand Hyatt Erawan Hotel, Ms. Kattiya Indaravijaya, KBank President, received the "2019 Outstanding Women Leaders for Green Growth Award" for being an exemplary role model in developing businesses which are environmental friendly and an...

Mastercard Strengthens its Leading Position in Real-Time Payments in Asia Pacific with Increased Focus on Thailand

Global payments and technology leader is bringing further innovation to Thailand as part of its push to advance the regional digital payments agenda Today, at the Bangkok Fintech Fair 2019, Mastercard announced a commitment to deliver a growing suite of...

Ultra Sale on Tokinex Completed in 35 Seconds

Tokinex, the Bitfinex and Ethfinex token sale platform, today announces the successful completion of its 5m USD token sale of Ultra (UOS) in just 35 seconds. Ultra is a protocol and platform positioned to disrupt the $140bn gaming industry by using...

Photo Release: Mastercard Presents its Leading Position in Real-Time Payments at the Bangkok Fintech Fair 2019

Recently, at the Bangkok Fintech Fair 2019, Mastercard announced a commitment to deliver a growing suite of real-time and digital payments solutions across Asia Pacific through its regional real-time payments hub, with data centers in Thailand and...

Related Topics