.
According to the Minister of Finance,
Mr Somdy Douangdy, several new systems have been installed to ensure
tax payments can be processed through banking systems and digital
technologies, allowing government tax officers to relinquish receiving
tax payments in cash directly from taxpayers.
.
Addressing
questions raised by people’s representatives, Mr Somdy gave a briefing
on the methods and measures in managing revenue collection, that have
been devised and implemented by the ministry to prevent revenue leakage
and maintain that applicable regulations are obeyed.
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As of 2016, the Ministry of Finance has developed custom and tax payment instruments to ensure entrepreneurs can pay customs and taxes conveniently.
.
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These include Smart tax, Smart VAT,
which can be used to settle tax payment when passing border checkpoints,
and other bank-based tax payment systems.
.
The ministry is currently working on
expanding several technologies to make it more convenient to pay taxes
and fees through ATMs and smartphones, preventing tax officers from
directly receiving taxes in cash.
.
The ministry is increasing revenue
sources, suggesting entrepreneurs to inspect bookkeeping, installing
tax devices, promoting cash registration at hotels, restaurants,
shopping centers, and establishing a revenue management database.
.
These revenue source expansion
endeavors are funded with a soft loan from the Republic of Korea and
will take around two years to complete.
.
source - Laotiontimes
