Reform for revenue collection system is essential

Perspectives

[dropcap font=”0″]E[/dropcap]very country on the world relies on revenue from taxes as the main financial source for day-to-day operations of governments as not every country has natural resources to export. Even for a country with abundant natural resources like Myanmar, excessive dependence on income from export of natural resources will not bring benefit forever. Incomes from the export of natural resources will not always be available in the long run as they are limited. Myanmar should also depend on revenue from taxes as most countries in the world do.
However, the taxation system has many loopholes and tax evasion is so rampant at every level of the society that this will hinder the progress of the country in the future.
As Myanmar is now undergoing the democratic transition, international financial institutions have reengaged with Myanmar and they have given valuable advice to reform the taxation system of Myanmar.
In other words, cause of the problem has been identified and correct measures to address it has been offered by international financial institutions which have offered Myanmar technical support for the reform of the revenue collection system.
It is only our commitment that will bring about changes in the revenue collection system for the future of Myanmar.

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