Citibank, N.A., Bangladesh Monday signed an agreement with Sonali Bank Limited on “Corporate Tax e-Payment” solution.

The National Board of Revenue (NBR) is currently in the process of developing a system where corporate taxpayers will be able to pay tax online.

With launching of the system, Citi’s clients, under the deal, will be benefited for being able to pay taxes online, said a press release.

The signing ceremony was attended by senior officials from Sonali Bank Limited, The National Board of Revenue, Bangladesh Bank, International Finance Corporation, IT Consultants Ltd. and Citibank N.A.

Pradip Kumar Dutta, Managing Director and Chief Executive Officer (CEO), Sonali Bank Limited, reiterated the role of Sonali Bank in the proposed Tax e-Payment mechanism for institutional customers and stressed the effectiveness of this digitised method in lieu of the prevailing manual tax payment process.

Rashed Maqsood, Managing Director and Citi Country Officer for Bangladesh, highlighted Citi’s commitment to deliver world-class solutions for corporate clients.

This partnership with NBR and Sonali Bank will pave the way towards an electronic era in corporate tax, and further strengthen Citi’s continued leadership in the country’s electronic banking space.