507 Eateries Fined for Failing to Give Tax Stamps

A total of 507 restaurants in Yangon Region were fined for failing to stick tax stamps on the receipts in the fiscal year 2016-17.

Myint Thaung, the Yangon minister for finance, told the regional parliament on April 24 in reply to the question about the state of taxation from MP Kyaw Kyaw Htun of Hlaing Township.

“Some restaurants didn’t give receipts. Some major restaurants gave receipts but did not stick tax stamps. These actions lead to the waste of state revenues. We collected Ks133 million (US$98,000) from fining 507 restaurants,” said Kyaw Kyaw Htun.

In 2015-16, altogether 1,508 restaurants bought tax stamps. In 2016-17, a total of 2,265 restaurants bought tax stamps and the state earned over Ks11 billion in a year.

The Internal Revenue Department has educated restaurant owners and published posters about taxes.

 

Source: Eleven Myanmar

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar