FPT Information System (FPT IS) last week put into operation the Integrated VAT Administration System (IVAS) worth US$33.6 million developed for the Tax Department of Bangladesh after 12 months of implementation.

The launching ceremony of the IVAS in Bangladesh last week

IVAS, FPT’s biggest offshore project funded by the World Bank, allows Bangladesh to manage more than 500,000 taxpayers and support operations of 320 local tax offices.

In the project implementation process, FPT IS faced many difficulties such as undeveloped infrastructure and language barriers.

Speaking at the event, Abul Maal Abdul Muhith, Minister of Finance of Bangladesh, said the launch of the VAT management system is a major achievement of Bangladesh.

Tran Van Khoa, the Vietnamese ambassador to Bangladesh, said the punctual completion of the project would help prop up the reputation of Vietnamese technology firms in Bangladesh, and bring new IT cooperation opportunities between the two countries in the coming time.

FPT IS has secured four other contracts worth nearly US$60 million after more than three years of operation in Bangladesh. This year, FPT IS plans to open an office there.

SGT