Citi Partners with Malaysia's LHDNM for Online Tax Payment Service
Citibank Berhad and Lembaga Hasil Dalam Negeri Malaysia (LHDNM) have launched CitiConnect e-Tax, an online payment solution that enables companies to settle their tax payments to LHDNM. Through CitiConnect, corporate users can initiate over 19 different tax payments to LHDNM via an online form.
This 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.
YBbhg Dato’ Hasmah binti Abdullah, chief executive of LHDNM, said: “It is indeed heart-warming that this smart partnership between LHDNM and Citibank is made possible. It marks another level of success in the ever-continuing synergy between the public and private sector.”
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.