FPT to develop tax management system for Bangladesh

Wednesday, Sep 10, 2014 16:45

FPT IS, a member company of FPT Corporation, wins an international bid to provide an integrated tax administration system for Bangladesh tax agency. — Photo courtesy of FPT

HA NOI (Biz Hub) — FPT Information System Company Ltd (FPT IS) announced on September 9 that it has won an international bid to provide an integrated tax administration system for Bangladesh's Income Tax Department.

The department is under the country's central authority for tax administration, the National Board of Revenue.

The US$6.6-million project, which will be funded by the Asian Development Bank (ADB), is expected to become operational after 16 months of implementation.

The company will implement several information technology services in the project, such as building hardware infrastructure and developing SAP tax and revenue management software applications.

The system aims to help the people of Bangladesh to save time and money by doing online income-tax transactions. It will also enhance the capacity of the authorities to manage income tax through information technology.

FPT IS said that the system would benefit 1,200 tax officers, three million tax payers at the central tax authority and approximately 650 provincial tax agencies in Bangladesh.

The company's general director Pham Minh Tuan said that Bangladesh was a potential market in South Asia as it has the seventh largest population in the world. He noted that the extent of use of IT applications in the country was less than that in Viet Nam, and that the country has boosted investment in the sector with a strategy known as Digital Bangladesh by 2020.

Tuan added that based on an analysis of its politics, economy and society, the company regarded Bangladesh as a target market in its global strategy.

FPT had earlier successfully implemented a project to manage personal income tax in Viet Nam.

During the first eight months of this year, the company has won 13 foreign bids worth a total amount of $25 million. — VNS

Comments (0)