Mon State Revenue Collection Declines in 2017

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Revenue collection for 2017 in the Mon State dropped by K272.64 million compared to the previous year, said an official from Mon State Internal Revenue Department.

This year, Mon State collected nearly K5.29 billion down from the K5.57 billion collected last year, said U Myo Ko, assistant general director of the Mon State Internal Revenue Department.

“The main reason behind this decline in tax revenues is that we had fewer big projects [like Bogyoke Aung San Bridge], a decrease in property selling and buying and a decrease in auctioneering,” he said.

According to Mon State internal revenue department’s register, state lottery taxes and commercial taxes decreased even more, totalling to K284.6 million. There are four categories of taxes: the income tax, commercial tax, stamp tax and state lottery tax. According to the constitution, the state government can collect 15 different kinds of taxes within these four categories.

“Although the total amount of taxes decreased, the income tax increased by about K158 million from the previous year. It shows that Mon State’s resident’s income may have increased from previous year,’’ he added.

“If tax revenue keeps decreasing, Mon State’s development will also be slowed down. It may also affect the supporting of the Union Hluttaw budget,’’ said U Aung Kyaw Thu, the spokesperson for the State budget, project and Economy committee, Mon State.

 

Source: Myanmar Times

 

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