Archive for Asia
The World Bank has agreed to provide a concessional loan of $34.5 million to Bangladesh to prop up the country’s electronic procurement infrastructure to enhance the use of electronic procurement at the Roads and Highways Department, Local Government Engineering Department, Rural Electrification Board and Bangladesh Water Development Board.
These four agencies spend a major portion of public money and invite bids to complete projects. These agencies will have to make 10,000 procurements using the electronic procurement system in the next three years, according to the agreement. Also, the project aims to scale up e-procurement activities in 20 more government agencies.
Malaysia's government electronic procurement (e-procurement) portal, ePerolehan, is targeting to support transactions totaling 17 billion ringgit (US$5.3 billion) in 2013, up from 15.4 billion ringgit (US$4.8 billion) last year.
The use of this system is at 75 percent, compared to just 10 percent in the year of introduction. The government was targeting an adoption rate of 90 percent for ePerolehan in two year's time. A 100 percent adoption rate could not be reached as not all government procurement could be processed through the portal. This is due to factors such as security, defense, and strategy.
China will introduce more regulations for its online invoice management system in a bid to standardize the industry and curb tax evasion. China's online invoice management measures will take effect on April 1, 2013. The new measures noted if the issuer of the invoice needs to change the details of the invoice, they must submit a written notice to the tax authorities which will then check the information before allowing the change.
Read MoreSponsored by GXS, Stanford's report "B2B Managed Services, Business Value and Adoption Trends" analyses the current state of B2B integration adoption and evaluates its potential growth. Engage earnest face: the report found that 96 percent of respondents felt managed services has added significant value to their overall B2B integration programs.
Read MoreWelcome to Uzbekistan, one of only two doubly landlocked countries in the world. And thanks to a joint UNDP project with the Ministry of Finance, Uzbekistan is now also a country with updated public e-procurement laws. The result? The process of supplying better quality goods to public entities has improved.
Read MoreThe ability to issue and receive VAT invoices in electronic format will likely bring a number of advantages to Russian VAT taxpayers, including improved cash flow and more efficient VAT compliance. At the same time, VAT taxpayers should addressed the Russian risks to minimize disruption to the business and the risk of errors and penalties. Just to be sure...
Read MoreEntering Russia is now possible thanks to recent changes in Russian legislation in April of this year, when the Russian Ministry of Finance approved the latest necessary operational instructions for service providers. Removing the last remaining obstacle that prevented more efficient, cost-effective electronic accounting and invoicing.
Read MoreAn interesting fact about Azerbaijan: its Ministry of Taxes is preparing the country for the use of e-invoices. The Azerbaijan Press Agency (APA) reports that the ministry has already prepared a relevant draft decision on the form, application, and use of accounting rules of the e-invoice.
Read MoreSmart move, Fundtech, to team up with BCS Information Systems. BCSIS is a Singapore-based financial solution provider and the company will promote, implement and be a centre of excellence for Fundtech’s Global PAYplus in Asia-Pacific under the agreement.
Read MoreA survey conducted among 150 Indian (SMEs) shows that one-fifth of the respondents do not use any kind of information and communication technology tools. It’s fairly safe to claim that Indian SMEs are quite reluctant to embrace technology. Ariba deserves a thumbs up then, because the company is now not only working with larger companies like Benetton India, but with SMEs as well.
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