Citibank Berhad and Lembaga Hasil Dalam Negeri Malaysia (LHDNM) launched CitiConnectSM e-Tax, an online payment application that enables companies to settle their tax payments to LHDNM. This landmark alliance positions Citibank as the first foreign bank in the country to provide online tax payment services to its corporate customers. LHDMN is the sole tax authority in Malaysia charged with the collection of income taxes for the Government.
Following an agreement signed at the launch, companies can now have access to a 24/7 convenient and secure online channel to initiate tax payments to LHDNM. Through CitiConnect, corporate users can initiate tax payments to LHDNM via an online form. This form is built-in to CitiConnect to facilitate simplicity and convenience when making tax payments. CitiConnect is a web-enabled financial services portal that facilitates e-commerce transactions from a single delivery channel.
“It is indeed heart-warming that this smart partnership between LHDNM and Citibank is made possible which will entail great significance as it marks another level of success in the ever-continuing synergy between the public and private sector,” says Speaking at the ceremony, YBbhg Dato’ Hasmah binti Abdullah, chief executive officer of LHDNM.
“Our partnership with LHDNM allows us to provide a platform for our customers to make over 19 different tax payments via CitiConnect. This is an easier avenue to make tax payments,” says Sanjeev Nanavati, chief executive officer of Citibank Berhad.
In addition to allowing corporations to make tax payments for business related income online, CitiConnect also supports employee PCB tax payments. Using the CitiConnect platform, corporations/employers can upload their PCB submission and initiate payments online via a simple user interface. For Citi, this new service complements its existing EPF e-Contribution alliance, which is currently available in Malaysia.
Citi was the first foreign bank in Malaysia to launch Internet delivery channels for the corporate markets in 2001. Since then, over 1,000 large corporations, both Malaysian corporate and multinational companies, actively utilize our Internet banking services for payments and cash management. More than 80% of all corporate payments made by Citibank clients are initiated via our Internet channels.
Citi invests extensively in customer-focused technological enhancements. The emphasis on system integration is a major priority for Citi in Malaysia and part of our commitment is to provide seamless and innovative solutions to our customers. Through globally managed Internet platforms, Citi leverages on economies of scale to offer world-class services to our clients in Malaysia and 100 countries worldwide.
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