A ceremony to present honorary awards and certificates to the highest taxpayers for the 2017-2018 tax year was held at the Presidential Palace in Nay Pyi Taw yesterday. President U Win Myint conferred the awards on individuals with outstanding payments for income tax, commercial tax, and specific goods tax. The importance of paying taxes At […]
Govt deploys strategy to raise tax revenues
October 29, 2018 by
Myanmar will implement plans to raise tax revenues in the coming years. “Our target is collect over 15 percent in taxes to GDP,” said U Min Htut, director general of the Internal Revenue Department under the Ministry of Planning and Finance. The tax to GDP ratios of other ASEAN countries are all above 10pc, with […]
Attitudes towards taxation in Myanmar revealed
March 26, 2018 by
The San Francisco-headquartered Asia Foundation has launched the Myanmar tax attitudes paper this month. The publication reveals that a clear majority thought taxes were fair while urban citizens surveyed were more positive about tax than those in more rural areas. In 2017, The Asia Foundation and the Yangon School of Political Science conducted the City […]
Developers Urge Government to Temporarily Reduce Tax to 5 percent
March 5, 2018 by
During a meeting with the Yangon Regional government held at MCC on February 17, construction developers urged the government to temporarily reduce the commercial tax from 30 percent to 5 percent for a period of two years. The Myanmar Licensed Contractors Association welcomed the income tax reduction in the Union Tax bill 2018, and supported […]
UMFCCI members push for lower tax rates
January 15, 2018 by
BUSINESSES at the Union of Myanmar Federation of Chambers of Commerce and Industry have urged Nay Pyi Taw to lower the tax rate, while the Internal Revenue Department said the tax rate has been lowered on an annual basis. Businesses collectively asked the tax rate to be reduced during the Chief Financial Officer conference (CFO […]
Businesses Help Shape New Tax Law
January 3, 2018 by
The event, entitled “CFO Conference”, led to fruitful discussions and a paper based on the participants’ suggestions would be submitted to authorities concerned, according to Ye Min Aung, vice president of UMFCCI and managing director of Myanmar Agribusiness Public Corporation, who leads the organisation’s tax working group. “We decided to work closely with the government […]
Govt Investment Director Confident in Foreign Investment Despite Rakhine Conflict
September 18, 2017 by
YANGON — U Aung Naing Oo, director-general of Directorate of Investment and Company Administration under the Ministry of National Planning and Finance, talked to The Irrawaddy reporter Shwe Lay about foreign investment in Myanmar and the government’s plan to promote it. How much investment has Myanmar had over the past year? Which countries are the […]
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