Myanmar to publicize top 500 tax payers

Myanmar’s Internal Revenue Department is listing the top 500 tax payers in the country for the fiscal year 2012-13, according to the tax officials.

“The list of top 500 tax payers will soon be publicized in the state-owned newspapers,” said an official from the Internal Revenue Department.

He said the names of the top 100 tax payers and top 100 commercial tax payers will be complied as a book.

This will be the second time Myanmar government disclose such information. Last year, the government announced the top 100 tax payers and top 100 commercial tax payers, but they did not list up to top 500.

Observers said they welcome such reports as the reports show who pay tax and who doesn’t.

In 2012-13, Myanmar has gained the total revenue of 2,500 billion kyats (US$2.7 billion) from various taxes, according to the revenue department. Some argued the figure is just about one tenth of the actual amount it should receive.

According to the official statistics, less than 10 percent total 30,000 companies in Myanmar pay income tax as profitable businesses. The rest have claimed they should not have to pay full income tax as their businesses were suffering loss.

source: Eleven Myanmar

http://www.elevenmyanmar.com/national/2559-myanmar-to-publicize-top-500-tax-payers