The Chairman of the Board of Directors of JDB, Mr Vilay Siphaphone (second left), poses with Finance Minister Santiphab Phomvihane (second right) and other officials.

JDB receives 2nd category award for outstanding tax payment compliance in 2022

The Joint Development Bank (JDB) on February 21 received a 2nd category award for exceptional tax payment compliance after the bank made a significant contribution to the state budget in 2022.

Finance Minister Santiphab Phomvihane speaks to participants at the awards ceremony.	Chairman of the Board of Directors of JDB, Mr Vilay Siphaphone (left), receives the award.

A ceremony to present trophies and certificates of appreciation to businesses that were in full compliance with the law concerning tax payments in 2022 was held at the Ministry of Finance in Vientiane. The ceremony was attended by government officials and business representatives, and chaired by the Minister of Finance, Mr Santiphab Phomvihane.
On behalf of the Joint Development Bank, the Chairman of the bank’s Board of Directors, Mr Vilay Siphaphone, went on stage to receive the award.
The Ministry of Finance issued awards to top-performing businesses in three categories, with 29 business receiving first category awards, 53 businesses receiving second category awards, and 167 businesses receiving third category awards.   
At the close of the ceremony, Finance Minister Santiphab Phomvihane praised the businesses for paying all of the taxes owed to the state, despite the difficult economic situation.
The Joint Development Bank was judged to have performed exceptionally well in its payment of taxes in 2022, paying 67.29 billion kip. In 2023, the bank contributed an additional 146.99 billion kip to the state budget.
The Joint Development Bank was also selected for an award by the panel because of its support for societal development through the construction of primary schools in remote rural areas and its participation in other activities through various forms of support.
The bank has been successful in many respects, despite the ongoing difficult economic situation and inflation. The bank has also shown a strong sense of responsibility in maintaining the value of its business and ensuring that its operations continue smoothly, as well as showing concern for the quality of life of its employees.
JDB has contributed both finance and wisdom in helping the government to resolve its economic problems, as well as strengthening its organisation, serving customers with honesty and transparency, and assisting its customers and businesses to prosper.
The Joint Development Bank has partnered with many organisations and companies to provide comprehensive financial services to customers of all levels equally, and implementing mutually beneficial policies, in line with the bank’s motto “Blooming Together”.

Chairman of the Board of Directors, Mr Vilay Siphaphone, and JDB staff display the trophy awarded to the bank.	Chairman of the Board of Directors of JDB, Mr Vilay Siphaphone, together with representatives from the business community and government officials, stands with Finance Minister Santiphab Phomvihane.

By Advertorial Desk
 (Latest Update February 28, 2024)