- EU not allows Chinese grasshoppers exploiting GSP for Myanmar
- BMW Car Company to open spare parts showroom and service center
- Sumitomo, NEC, NTT to build telecom network in Myanmar
- Italian-Thai’s hydropower project in lower Myanmar allegedly stops
- Swiss Upper House Speaker paves the way for Swiss investments in Myanmar
- Myanmar spends US$300m annually for palm oil imports
- First Central Cooperatives Business Center to be opened in June
- Wood, finished-wood products export gets exemption from custom check
- Best Western group to take over Myanmar’s Green Hill Hotel
- Criticisms hit mall’s construction near sacred pagoda
Published on Sunday, 03 February 2013 20:13
The Finance and Revenue Ministry expects to collect over kyats 2,000 billion in tax revenue for this 2012-2013 fiscal year, kyats 500 billion more than pervious year.
"It doesn’t mean that tax payers are trying to evade taxes anymore. It happens because tax system has been changed and new system is flexible," an official form the Internal Revenue Department said and noted that mind set of staff at the department has also changed.
The department has collected average of kyats 180 billion of tax annually in the past six years.
Last year, the department published country's top 100 commercial taxpayer's book that effectively makes some giant companies not to evade taxes and pay more for this year, the official said.
“Several giant firms avoided tax by tripping the investment law or tax relief. For sure, they run businesses illegally as long as they don't get caught,” said a retired tax official.
Billions of tax revenue will be collected in the future if the tax payers are willing pay the taxes without filing loss or dodging taxes for the country to rebuild new economy.