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Taxes on tobacco and alcohols increased in Union Taxation Bill

According to the Union Taxation Bill for 2018-2019 FY submitted by the Ministry of Planning and Finance on behalf of the Union government, taxes levied on cigarette, cheroots and alcohols are raised.

Deputy Minister for Planning and Finance Maung Maung Win submitted the Union Taxation Bill for 2018-2019 FY at the session of Union parliament in Nay Pyi Taw on August 24.

“There are two major distinct points in the Union Taxation Bill for 2018-2019 FY. The first one is special good taxes are increased. The second point is the amounts of income tax exemption are changed. The Union government slightly increases some special good taxes based on GDP growth rate and increasing inflation rate, in order to effectively implement economic and fiscal policies,” he added.

In the Union taxation bill for 2018-2019 FY, the tax rate for a packet containing 20 cigarettes sold for Ks-600 is Ks-six per cigarette, a packet sold for between Ks-601 and Ks-800, Ks-14, a packet sold for between Ks-801 and Ks-1,000, Ks-19 and a packet sold for Ks-1,001 and above, Ks-21. The tax rate for a cheroot is Ks-one.

In the Union Taxation Law 2018, the tax rate for one packet sold for Ks-500 is Ks-four per cigarette, a packet sold for between Ks-501 and Ks-700, Ks-nine, a packet sold for between Ks-701 and Ks-900, Ks-13, a packet sold for between Ks-901 and above, Ks-16. The tax rate for a cheroot is Ks-0.25 kyat.

In the Union taxation bill for 2018-2019 FY, the tax rate is Ks-122 when the one liter price of alcohol is Ks-1,000. The tax rate will increase based on alcohol liters. Taxes will be lived on 60 per cent of one liter value when the price of alcohol is Ks-29,001 and above per liter. In the Union Taxation Law 2018, the tax rate is Ks-91 when one liter price is Ks-750. Taxes will be lived on 60 per cent of one liter value when the price of alcohol is Ks-26,001 and above per liter.

SOURCE: ELEVEN MYANMAR

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