The Budget: What Do Taxpayers Want?

\ In Nay Pyi Taw, preparations are now well advanced for finalising the budget and Union tax law which will establish the Government’s revenue-raising and spending priorities for the 2017-18 financial year. It is an annual event that always encourages advance speculation. But this year it is being more eagerly anticipated than usual because it […]

Number of Tax payers reaches over 300,000 in this FY

The number of taxpayers reached over 300,000 as of the end of October in the 2016-2017 fiscal year, allowing the nation to increase tax revenues, said U Myint Thaung, Yangon Region minister for planning and finance. Over Ks2,005,895 million have been received from a total of 363,266 taxpayers from April to the end of October […]

Insight into tax audit activities in Myanmar

AS A LONG-TIME professional in the taxation field, I often receive questions from businesses regarding tax-audit activities of the authorities and how to effectively minimise the likelihood of such audits, especially when it is time to request for tax refunds. Businesses, especially multinational companies operating in foreign jurisdictions, are generally uncertain about taking any course […]

Multimillion-dollar Chinese companies not listed as top taxpayers

Chinese companies that are attempting to invest Ks 7 trillion in New Yangon City were not listed on this year’s top tax-payers list. Myanmar Setana Myothit Public Co is owned by a Chinese entrepreneur and was planning to develop the Yangon Myothit Project. The project has never held an open tender, and its details have […]

Tax collectors set to scour Yangon for tax evaders

The Internal Revenue Department will start scrutinising tax collection in 203 wards of 20 townships in municipal Yangon from the last week of this month, it said. The move is aimed at uncovering tax evasions among businesses in industrial zones, as well as factories, warehouses, land and house rentals. “We will invite entrepreneurs in 203 […]