|Tax on cigarettes is about to go up. A man smokes a cigarette in front of a shop in downtown Yangon, Myanmar, May 31, 2014. Photo: Lynn Bo Bo/EPA|
Nay Pyi Taw – The Ministry of Finance has sought approval from the government to raise taxes on beverages and tobacco from the beginning of the 2015-2016 fiscal year which starts in April.
|Yadana gas field pipelines in the Andaman Sea, Myanmar. Photo: PTTEP/EPA|
Foreign oil and gas companies are in Myanmar’s list of top taxpaying companies in the 2013-14 fiscal year, paying tax ranging from K4 billion [US$4 million] to K130 billion, according to statistics released by Myanmar’s Internal Revenue Department on December 22.
The Yangon Region Work Project Scrutiny Committee and management committees of industrial zones are working together to expose entrepreneurs who have not officially declared their industries in the industrial zones, representatives of the businesses community told Mizzima on December 5.