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Moreover, the government is amending outdated tax laws, regulations and management practices; developing a new tax management law and submitting the income tax law to the Pyidaungsu Hluttaw.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
Top Local Taxpayer Companies for 2018-2019 TY
|Tax Categories||Companies||Award Receivers|
|Income tax||1. Europe & Asia Commercial|
|U Sein Myint, Chairman|
|2. Myanmar Economic Holdings Limited||U Aung Ye Win, Head of General Administration|
|3. E-Lan Co.,Ltd.||Daw Thein Nyunt, Director|
|4. International Beverages Trading Company Ltd.||Daw Mya Pwint Phyu, Director|
|5. Myawaddy Bank||U Yu Lwin, Chief Executive Officer|
|U Khin Maung Aye, Chairman|
|7. Kanbawza Bank Ltd.||U Aung Kyaw Myo, Deputy CEO|
|8. Myanma Grape and Beverages Company Ltd.||U Aung Moe Kyaw, Co-Chairman|
|9. Ayeyawady Bank Ltd.||U Zaw Zaw, Chairman|
|10. Denko Trading Co.,Ltd.|
|Daw Saw Thu Wai, Director|
|Commercial Tax||1. Denko Trading Co.,Ltd.|
|U Chit Khaing, Chairman|
|2. Kyaw San Co.,Ltd.||U Tin Aung Kyaw, Director|
|3. PT Power Trading Co. Ltd||U Zin Min Aung, Director|
|4. City Mart Holding Co.,Ltd.||Daw Win Win Tint, CEO|
|5. Asia Energy Co.,Ltd.||U Thura Kyaw, Director|
|6. International Beverages Trading Co.,Ltd.||Mya Pwint Phyu, Director|
|7. Shwe Byain Phyu Co. Ltd||U Thein Win Zaw, Managing Director|
|8. Heyday Energy Trading Co.,Ltd.||U Htet Khaing Win, Managing Director|
|9. Max Energy Co.,Ltd.||U Zaw Zaw, Chairman|
|10. Lluvia Limited||U Soe Tint, Director|
|Specific Goods Tax||1. Dagon Beverage Co. Ltd.||U Hla Min Thu, Administrative Director|
|2. Royal Club Beverages Co. Ltd.||Daw Khin Lay Nwe, Director|
|3. SMM Shwe Myanmar Beverages Co. Ltd.||U Sai Hlaing Bone Aung,|
|4. Yaung Ni Distillery’s Factory||U Kyaw Thein Lwin, Director|
|5. Golden Oriental Leaf Co. Ltd.||Daw Myint Myint Win, Managing Director|
|6. Victory Myanmar Group Co. Ltd.||U Zaw Win Swe, Chairman|
|7. Central Base Productions||U Sai Hlyan (a) Htay Win,|
|8. Asia Beverages Co. Ltd.||U Tun Win, Managing Director|
|9. Lin Let Win Gems and Jewelry Co. Ltd.||U Tun Kyi, Managing Director|
|10 Yadanar Kyal Co. Ltd.||U Kyaw Naing, Director|
Top Foreign Taxpayer Private Companies for 2018-2019 TY
|Tax Categories||Companies||Award Receivers|
|Income Tax||1. Moattama Gas Transportation Co.,Ltd.|
|U Soe Thaung Myint,|
Acting General Manager
|2. Telenor Myanmar Ltd.||Hans Martin Hoegh Henrichsen, Chief Corporate Affairs Officer|
|3. Taninthayi Pipeline Company LLC (Myanmar Branch)||Daw Khin Moe Kyu,|
|4. Myanmar Yang Tse Copper Ltd.||Mr Zhang Yupeng,|
|5. Myanmar Brewery Ltd.||Daw May Sabei Win,|
|Commercial Tax||1. Telenor Myanmar Ltd.||Daw Yin Yin Htay,|
Chief Business Officer
|2. Ooredoo Myanmar Ltd.||Daw Wine Ye Mon, General Accounting Senior Manager|
|3. Myanmar Brewery Ltd.||U Kyaw Kyar,|
Chief Operating Officer
|4. Virginia Tobacco Co.,Ltd.||U Myint Oo, Deputy Managing Director|
|5. Grand Royal Group International Co.,Ltd.||U Aung Moe Kyaw,|
|Specific Goods Tax||1. Myanmar Brewery Ltd.||U Soe Kyaw Thu, Deputy Managing Director|
|2. Virginia Tobacco Co.,Ltd.||U Myint Oo, Deputy Managing Director|
|3. Grand Royal Group International Co.,Ltd.||U Aung Moe Kyaw,|
|4. Heineken Myanmar Ltd.||Daw Myat Phyu Thet,|
Corporate Affairs Director
|5. Myanmar Carlsberg Co.,Ltd.||Mr Christoph Varik,|