Paying tax at the click of a button

Source: Xinhua | 2018-08-01

SHANGHAI companies can now authorize their bank in just two minutes online to pay tax directly from their accounts, replacing a procedure that took up to two days and at least one personal visit to the bank.

Under the agreement between banks and the tax office which took effect yesterday, taxpayers can authorize their bank to withhold and remit tax from their designated accounts automatically, the Shanghai Office of the State Administration of Taxation said.

“This allows taxpayers to complete the third-party agreement signing without leaving home,” said Li Junkun, chief accountant at the local taxation bureau.

Twenty-one commercial banks have already signed up for the service and another 10 are expected to come on board this month.