The State Administration Council sets three economic goals for the economic development of the country. The government spends most of its tax revenues to improve the socio-economic life of the people. Therefore, efforts are being made to increase the tax revenue due, and at the same time, for the benefit of the State and the people, tax exemptions and tax breaks are allowed under the existing laws.
|
Sr. |
Subject |
Quanty |
Value of Exemption Tax (Billion Kyat) |
Amount of Tax Exemption (Billion kyat) |
A total of Tax Exemption(Billion Kyat) |
||
|
Custom Duty |
Comm-ercial Tax |
Income Tax |
|||||
|
1. |
Value of tax exemption to companies with MIC approval |
250 |
125.414 |
4.409 |
6.496 |
- |
10.905 |
|
2. |
Value of exemption for Union ministries |
45 |
209.141 |
1.372 |
0.427 |
- |
1.799 |
|
3. |
Value of exemption for state/region governments |
3 |
0.957 |
0.029 |
0.006 |
- |
0.035 |
|
4. |
Value of exemption for donations to NGOs, and INGOs |
16 |
13.584 |
0.478 |
0.037 |
- |
0.515 |
|
5. |
Value of issuance for securities to Union ministries |
143 |
1,251.281 |
- |
- |
27.468 |
27.468 |
|
6. |
Value of exemption to Myanmar Special Economic Zone (Thilawa) |
981 |
136.517 |
6.824 |
8.878 |
- |
15.702 |
|
Total |
1,438 |
1,736.894 |
13.112 |
15.844 |
27.468 |
56.424 |
|
According to the records of the Ministry of Planning and Finance, the list of tax exemptions and tax breaks allowed from January to March 2022, is as follows;
Therefore, the State Administration Council is scrutinizing the tax exemptions of the associations and activities in line with the Union and Region/State government departments, organizations, under the Myanmar Investment Law and the Special Economic Zone Law, and efforts are being made to fully collect the due taxes under the Union Tax Law and the existing tax laws.
- Efforts are being made to increase the tax revenue due, and at the same time, for the benefit of the State and the people, tax exemptions and tax breaks are allowed under the existing laws.