Apr 9, 2014

Gov’t revenue rises to Ks 3.42 trillion in 2013-14

The government's total revenue rose to Ks 3.42 trillion (US$ 3.42 billion) over the recently completed 2013-14 fiscal year.

It has increased by Ks 710 billion (US$ 0.7 billion), compared to Ks 2.71 trillion (US$ 2.71 billion) in 2012-13. The Internal Revenue Department said they will announce the top 1,000 tax payers for the last fiscal year.
The government awarded honorary certificates to top 50 citizen tax payers and top 50 commercial tax payers for the last fiscal year.

The amount of revenue received has been on the rise every year under Thein Sein’s reformist government. In the last year of the previous government (FY 2010-11), the total revenue was 1.22 trillion (US$ 1.22 billion).
It rose to Ks 1.53 trillion (US$ 1.53 billion) in 2011-12, and Ks 2.71 trillion (US$ 2.71 billion) in 2012-13.

The top ten commercial tax payers for 2012-13 were Myanmar Brewery Limited, Rothmans of Pall Mall Myanmar Pte Limited, Dagon Beverages Company Limited, IBTC Company Limited, Myanmar CP Livestock Company Limited, City Mart Holding Company Limited, Premier Coffee Company Limited, Yathar Cho Industry Limited, Max Myanmar Construction Company Limited and Straits Greenfield Limited (Sedona Hotel-Yangon).

Top income tax payers of that year were IBTC Company Limited, Myanmar CP Livestock Company Limited, Shwe Taung Development Company Limited, Co-Operative Bank Limited, Max (Myanmar) Construction Company Limited, Dagon Beverages Company Limited, Shwe Me Company Limited and Asia World Company Limited.

The government formed the Board of Scrutinising and Monitoring of Tax Collection in May 2013.

The board has to scrutinise whether taxes are collected properly or not, monitor the collection of tax on service, trade and production and report their findings to the government.

Source: Eleven Weekly Media

 
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