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Finance sector e-treasury to be set up in 2020   2010-09-27 - Viet Nam News

An e-treasury of the State, in which all activities will be carried out with modern information technologies, will be set up by 2020, according to a financial sector insider.

The e-treasury would help cut 50 per cent of costs and 90 per cent of work in tax agencies would be automated, Dang Duc Mai, head of the IT and Financial Statistics Department said.

The financial sector plans for all of the Ministry of Finance’s units in all provinces and cities to have a website by 2015. All information of the sector’s processes relating to taxpayers and companies will be published and about 60 per cent of all financial transactions will take place online. In addition, almost all tax payments will be made online.

Le Hong Hai, deputy director of General Tax Department under the ministry said it was necessary to apply information technologies to all activities of the financial sector because the number of transactions and processes are increasing.

Recently, she said, there were about 3 million tax codes supplied to companies and enterprises. Personal tax code numbers were more than 7 million and are projected to reach 10 million by 2015.

Mai said that to successfully reach the target, one of the most important methods will be mobilising human resources. Another crucial method is developing infrastructure.

This year, the sector will start online tax declaration. The programme has been modelled by 1,000 companies in four cities including Ha Noi, HCM City, Da Nang and Ba Ria-Vung Tau. Every month, 20,000 tax declarations are sent to the ministry. Online tax declaration is expected to be used by 20,000 companies in 19 provinces and cities beginning now through 2011.



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