VPBank’s VPBiz card, available as both a credit and debit card, offers businesses an integrated financial management tool, especially crucial given the stricter value-added tax (VAT) deduction regulations. All transactions made through the card are recorded with detailed statements, simplifying reconciliation and tax declaration.
Businesses can issue multiple supplementary cards to different departments, such as accounting, purchasing, and sales, each with specific spending limits and access controls. VPBank compiles detailed reports of all transactions on each card, facilitating bookkeeping reconciliation, financial reporting, and tax preparation.
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Types of cards in the VPBiz category. Photo: VPBank |
Types of cards in the VPBiz category. Photo: VPBank
The virtual ICCP card, a unique VPBank product for e-commerce transactions, allows users to generate unique payment codes for each transaction. This enhances security for online spending while maintaining cost control and supporting VAT deduction claims.
Beyond tax compliance, the VPBiz card offers financial benefits with an unlimited 1% cashback program. The Platinum card further includes privileges such as airport lounge access, Fast Track service, and golf course discounts. As a special introductory offer, VPBank is providing 10% cashback on all spending until 31/8 to help businesses adapt to the new tax regulations.
The current VPBiz portfolio includes Mastercard Platinum, Mastercard Standard, WE credit cards, and the VPBiz Debit Cashback card, catering to micro, small, and medium-sized enterprises. VPBank plans to expand this range based on various business models, aiming to build a diverse and comprehensive digital payment ecosystem for businesses.
According to a VPBank representative, the VPBiz card is a valuable tool as businesses adapt to the new tax regulations effective 1/7. The government's decree, detailing the implementation of certain articles of the VAT Law, stipulates that businesses must possess VAT invoices and non-cash payment documentation for purchased goods and services exceeding 5 million VND (including VAT) to qualify for input VAT deductions. Cash payments are no longer valid, except in specific cases defined by the government.
With its cash flow management and spending optimization features, VPBiz is positioned as a financial solution that assists businesses in transitioning to digital payments, complying with tax policies, and enhancing cost control and financial operational efficiency.
(Source: VPBank)
Interested customers can contact the hotline at 1900 234 568 or visit the website for more product information.
