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ETDA and Revenue Department to develop electronic payment system infrastructure

Image Credits: ETDA, Press Release

The Director-General of the Revenue Department and the Director of the Electronic Transactions Development Agency (ETDA) signed a Memorandum of Cooperation regarding the information system certification of electronic data delivery service providers.

The MoU was signed to help prepare electronic documents between the Revenue Department and the Electronic Transactions Development Agency.

The agreement is meant to create trust and security standards for service providers to deliver electronic invoice information. It will also deal with e-Tax Invoice & e-Receipt preparation.

Moreover, by creating certification of information systems for service providers to deliver e-Tax Invoice & e-Receipt, it is hoped that confidence among users will increase.

The cooperation between the two agencies at the national level will promote and support the development of the national electronic payment system infrastructure.

In addition, the Revenue Department issued tax measures to promote and support the electronic tax system (approved by the Cabinet on 30 April 2019). Under these tax exemption measures for companies or juristic partnership are encouraged to invest in electronic document preparation systems.

This is done by purchasing computer programs, electronic certificate storage devices or other devices that are used in conjunction with computer service fees for electronic storage space and service fees paid to electronic data delivery service providers.

The purpose is to prepare, deliver or keep electronic tax invoices and receipts for the business. In the amount of one hundred per cent of the expenditure according to the actual amount paid, which shall be in accordance with the rules, procedures, conditions and period specified.

The mission of ETDA is to push e-commerce of the country to support and encourage electronic transactions with security standards, which is another ETDA featured.

The signing this memorandum is another important step in furthering and supporting the National e-Payment program in increasing the efficiency of tax collection through e-Tax Invoice and e-Receipt projects.

This is considered as a support and push for the delivery of electronic tax invoices of operators. In the country especially for entrepreneurs who have limitations in preparing the delivery system for electronic tax invoices.

For example, small entrepreneurs and SMEs can have agents that will help reduce capital and increase the convenience of delivering tax invoices and electronic receipts.

The Revenue Department is working to be the agent that is preparing a system that passes the certification for security corresponding to recommendations on standards of information and communication technology that are necessary for electronic transactions.

The system works to create information security for service providers by delivering and keeping information electronically. The ETDA will issue a certificate of an information system to those who pass the assessment. Those who pass will submit their results to the Revenue Department to consider in the next step.

In order to create confidence for entrepreneurs who choose to use services from standard service providers and also encourages the operations of the Revenue Department in regard to collecting taxes with greater security, security, transparency and efficiency, which ETDA will prepare to open such services soon.

It was concluded that this cooperation is considered to lead the expertise of two national agencies. Come together to support the country’s strategy.

The Revenue Department encourages the creation of a tax system and electronic transaction documents while the ETDA encourages such operations to be secure and standardized.

The Revenue Department sincerely hopes that this e-Tax Invoice & e-Receipt service provider will create convenience and reduce the cost of operation for entrepreneurs.

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