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.

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