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Sagaing sees no environmental conservation measures despite gold mine operations

No environmental conservation plan has been adopted in Sagaing Region although small- and micro-scale gold mines have been operating there, said a regional minister. Sagaing Region Minister for Natural Resources Lar Htaung Htan said small-scale gold mining had been approved in some townships of the region but no plan has been adopted for environmental conservation. […]

YCDC taxes can be paid by mobile phone from 1 Oct

YANGONITES will be able to pay Yangon City Development Committee’s (YCDC) taxes by mobile phone from 1 October. The mobile payment system for taxes was launched at a ceremony held on 12 September at the Yangon City Hall. The mobile payment system was introduced with the aim of facilitating the payment of YCDC taxes. It […]

YCDC – What do residents really think?

Yangon residents and businesses pay a lot of taxes, and in return expect particular services or utilities to be provided for by the government. A reliable water supply, clean and well-maintained streets, or having access to public recreational facilities are a few of the expectations some taxpayers have. Exactly what Yangon’s five million residents think […]

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, […]

Better oil and gas deals needed in the future, say experts

Efforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by the Natural Resource Governance Institute (NRGI) and Renaissance […]

Gas pipeline at Zawtika to be replaced

The replacement of a gas pipeline at the Zawtika project, offshore of Myanmar, will be conducted to reliably supply gas to Myanmar, said Mr. Piya Sukhumpanumet, general manager of PTTEP Myanmar Asset. Mr Piya was speaking to journalists during a media tour to Zawtika, located in block M-9 of the Moattama Gulf, Tanintharyi Region on […]

More foreign investments now likely in pearl farming industry

The Myanmar Pearl Law has been amended for the second time to allow foreign direct investments (FDI) in the sector, U Min Oo, managing director of the Myanmar Pearl Enterprise, told The Myanmar Times. According to U Min Oo, the pearl production sector is now among the extraction sectors that will be open up to […]

Businesses call for lower taxes amid slowing economy

Myanmar businesses are urging the government to lower the country’s tax rates to alleviate pressure from the rising dollar exchange rate and slowdown in demand in recent months. According to the quarterly Business Sentiment Survey by the Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI) released last month, Myanmar’s high taxation rates are […]

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 […]

Retailers flag need to regulate e-commerce industry

The Myanmar Retailers Association last week submitted a request to regulate the e-commerce industry to Vice President U Myint Swe and the government’s Private Sector Development Committee during a meeting between the latter and local businesses. Retailers say that while a rising number of consumers are now purchasing goods from individuals and businesses online, many […]