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Higher revenue collection reported by the IRD

The Inland Revenue Department (IRD) has collected K4.9 trillion in revenue across five categories of taxes from October 2018 to June 2019. According to the IRD, the amount collected was more than the amount collected in the corresponding period of last year. Four-fifths of the amount collected this year came from income tax, commercial tax, […]

Illegal trade more rampant than before, govt measures not effective

Government efforts to prevent illegal border trade have not been effective or sufficient and counterfeit goods are still being smuggled into the country. In fact, things are worse than before. “Illegal trade can’t be controlled. Illegal trade is worse than before even though measures were taken to reopen some of the border gates by the […]

Daibochi’s Myanmar ops lift 1Q net profit by 12%

KUALA LUMPUR (May 14): Daibochi Plastic and Packaging Industry Bhd said its new consumer packaging plant in Yangon, Maynmar, which commenced operation last July, helped lift its latest quarterly net profit by 12.3% to RM6.48 million, from RM5.77 million a year ago. This resulted in higher earnings per share for the quarter ended March 31, […]

Yoma Strategic posts strong Q3 results, shares dip

Yoma Strategic Holdings, which does business in Yangon but is listed in Singapore, on Tuesday released its financial statements for the nine months ended December 31, 2017. The company drew revenues amounting to S$82.9 million for the period, which is up 24.3 percent over the same period last year. Owing to the disposal of its […]

Rakhine commerce minister sees bright future for black bean exports

​​ The Rakhine State commerce minister is hoping around 10,000 tonnes of black gram beans will be exported to India from Sittwe this year, pending completion of the Kaladan Multi-Model Transit Transport Project. The Kaladan project will connect Mizoram in India to Sittwe, the capital of Rakhine State, via the Kaladan River. The project was […]

Booze and Cigarette Taxes to Change from April

Cigarettes will be taxed individually and alcohol will be taxed per litre, according to the draft Commercial Tax Law 2016. For cigarettes, a roll of cigarette will be taxed from K3 to K48 depending on the price of the cigarette. For alcohol, a litre of alcohol will be taxed from K66 to K2,231 depending on […]

Simple but Stricter: Gov’t to Issue Fewer Liquor Licenses

The government plans to simplify the liquor licensing system, albeit issue fewer licences, deputy minister for home affairs Brigadier General Kyaw Kyaw Tun told the upper house of the parliament. The general administration department under the Ministry of Home Affairs has the power to issue liquor licences. Last year, they issued 41 different types of […]

Asia Express should pay Ks 2.6 billion owed to Yangon: MP

Asia Express needs to pay a revenue of more than Ks 2.6 billion owed to Yangon City Development Committee (YCDC), said MP Dr. Nyo Nyo Thin, No.2 Bahan Constituency during Yangon regional parliament session held on April 24. She made the comments while urging the Yangon Region government to cooperate with the parliament to implement […]

Garment sector to hit $1.5b revenue mark

Revenues in the garment sector are expected to grow by as much as 50 percent for the 2013-14 fiscal year and reach US$1.5 billion, experts said. Daw Khaing Khaing Nwe, secretary of the Myanmar Garment Manufacturers’ Association, told The Myanmar Times that the sector has continued to benefit from relaxed trade rules from abroad, while […]