Tax pay­ment made eas­ier

Business Bhutan - - Money - Chen­cho Dema from Thim­phu

In a bid to make tax pay­ment more con­ve­nient, the Bank of Bhutan (BoB) in col­lab­o­ra­tion with the De­part­ment of Rev­enue & Cus­toms (DRC) in­tro­duced tax pay­ment fa­cil­ity through mBoB (BoB’s pop­u­lar mo­bile bank­ing app).

The ser­vice was launched by the fi­nance Sec­re­tary, Dasho Nim Dorji, at the Norkhil Bou­tique Ho­tel & Spa in Thim­phu Wed­nes­day.

BoB’s Chief Ex­ec­u­tive Of­fi­cer, Pema Nadik said the ser­vice will make pay­ing taxes much eas­ier and also en­cour­age tax pay­ers to pay their taxes on time. “Tax pay­ment through mBoB will save time and money for both tax­pay­ers and the rev­enue de­part­ment,” he added.

Presently, tax pay­ers have to walk in per­son to pay their taxes mostly at the cash coun­ters of DRC or at bank coun­ters af­ter hav­ing to stand in queue for hours. But with this new ser­vice, tax pay­ers can eas­ily pay the tax due via mBoB af­ter gen­er­at­ing the De­posit Voucher (DV) num­ber through RAMIS.

This new fa­cil­ity to pay taxes is in ad­di­tion to tax pay­ment via BoB’s in­ter­net bank­ing in­tro­duced a few years ago.

To make tax pay­ment us­ing mBoB, a cus­tomer com­putes the tax payable amount from RAMIS and gen­er­ates the DV num­ber. Then one should lo­gin to mBoB app and select Bill pay­ments - Tax - “DRC Tax Pay­ment” op­tion. The user should then type in the DV num­ber and click “Sub­mit”, whereby the tax­payer’s name, payable amount and TPN will be fetched from the DRC sys­tem. The trans­ac­tion gets through af­ter con­fir­ma­tion with the T-PIN and the user re­ceives an on­screen mes­sage, SMS and email no­ti­fi­ca­tion with the trans­ac­tion de­tails.

Mean­while, BoB launched the coun­try’s first Mo­bile and Agency Bank­ing App (mBoB) on May 15, 2015 and has over 80,000 reg­is­tered users in the coun­try as of now.

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