President honours Myanmar’s ‘biggest taxpayers’ for 2018-2019 tax year

August 11, 2020

Government honoured the top taxpayers of the country for 2018-2019 tax year yesterday.

President U Win Myint attended the ceremony held at the Presidential Palace in Nay Pyi Taw, and presented awards to the outstanding taxpayers for income tax, commercial tax, and specific goods tax.

In delivering a speech at the ceremony, the President said: “The government annually issues the top 1,000 taxpayers to promote tax awareness and tax culture; the government has adopted economic policies to bring about people-centred inclusive and sustainable development; the policies include laws, rules and regulations to protect the rights and property of the people by establishing a fair and beneficial tax system for increasing national revenue as it is necessary for the development of the country and for the functions of the administrative sector; instead of relying on natural resources and foreign loans; taxation is more appropriate for the stability of the macro-economy and economic development.

The President added that tax is the contribution of the people to the public spending for national development and that the tax is actually public property.

“As people have dutifully paid their taxes for state revenue, the government needs to use taxpayers’ money carefully to benefit the public and to prevent wastages,” said the President.

He continued to say that his administration will work for the development of tax culture, which has disappeared for many years, in line with democratic norms; the contribution of business tycoons and citizens play a crucial role in promoting tax payment culture.

The President said that avoiding the burden of taxation is taken into consideration when efforts are being made to promote investments which is the main driving force for national development; the private sector development committee led by the Vice President is holding monthly meetings with the private sector to help them in solving their difficulties.

Moreover, the government is amending outdated tax laws, regulations and management practices; developing a new tax management law and submitting the income tax law to the Pyidaungsu Hluttaw.

The President emphasized the need for honesty, authenticity, transparency, and accountability of all persons directly or indirectly concerned with the tax system for the development of tax culture in line with democratic norms.

The government is working for tax management reform in which tax is paid by the taxpayers themselves instead of being collected by the tax authorities; implementing tax management based on technology and introducing a pilot project for electronic tax filing and payment; tax reduction plans have been extended for recovery from economic impacts and unemployment due to COVID-19.

The government is not focusing only on earning revenue in adopting tax policies, but ensuring flexibility in the needs of people, situations and conditions; simplicity, fairness, accuracy, less cost and predictability are also considered in the tax system.

The economic development of a country could improve socioeconomic development, dignity and image of the country. The President expressed his appreciation for the tax payments of businesspersons although they have some difficulties in doing their businesses; he also encouraged them to maintain this practice and urged other businesspersons to be dutiful in paying their taxes.

The President finally said the government will provide assistance to both major businesses and other businesses of taxpayers to meet international standards, competitiveness in quality and ethical standards, and extended his good wishes for the progress and development of their businesses.

The ceremony was attended by Union Ministers U Kyaw Tint Swe, U Min Thu, U Soe Win, U Thaung Tun, Dr Aung Thu, U Ohn Win, U Win Khaing, Dr Than Myint, U Han Zaw and officials.—MNA

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