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Whoever Reports Tax Avoidance Will be Awarded 10 Percent of the Fine

The government is planning to award 10 percent of fines to those who report scofflaws who fail to put tax stamps on receipts to the Internal Revenue Department, according to U Myint Thaung, Minister of the Ministry of Planning and Finance.

He was answering a question submitted to the Yangon Regional Parliament on February 20 by Daw Yin Yin Myint, a Member of Parliament from Alone Township constituency, asking how the government is taking action against those who fail to stamp receipts. He also urged the government to raise awareness on the tax law.

‘‘We will award those who report the cases with ten percent of the fine,’’ the minister said.

Some businesses fail to put the stamps on receipt, and some don’t even give the receipt to the customer, said U Myint Thaung, and everyone can report the cases.

Businesses must put the 5 percent commercial tax stamps on receipts, and must pay 100 percent of the value to the Internal Revenue Department in addition to a K200,000 fine for the first infraction, K200,000 fine for the second infraction, and a K1 million fine for the third time the infraction happens.

Businesses related to service such as restaurants, hotels, motels, jewelry shops and Karaoke venues must put commercial tax stamps. The Minister urged people to cooperate with the government in order for the appropriate tax they pay to go into the state’s fund.

Other consumer related businesses must pay the 5 percent commercial tax on items sold to the government within ten days after a month ends, by using a commercial tax book or receipts.

Starting from November 1, 2014, Yangon Regional Government started making restaurants put commercial tax stamps on receipts, and urged the consumers to ask for tax stamped receipt.

Source : Myanmar Business Today

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