Home MMBIZ News Gov’t Revenue Rises to $3.4b in 2013-14

Gov’t Revenue Rises to $3.4b in 2013-14

The government’s total revenue rose to K3.42 trillion ($3.42 billion) in 2013-14 fiscal year, the Internal Revenue Department’s data shows.

This marks a rise of K710 billion ($0.7 billion) compared to K2.71 trillion ($ 2.71 billion) collected in 2012-13.

The Internal Revenue Department said it will soon announce the top 1,000 tax payers for the last fiscal year.

The government recently awarded honorary certificates to top 50 citizen tax payers and top 50 commercial tax payers for the last fiscal year.

The amount of revenue received has been on the rise every year under U Thein Sein’s reformist government. In the last year of the previous government (FY2010-11), the total revenue was K1.22 trillion ($1.22 billion). It rose to K1.53 trillion ($1.53 billion) in 2011-12, and K2.71 trillion ($2.71 billion) in 2012-13.

The government formed the Board of Scrutinising and Monitoring of Tax Collection in May last year.

The top ten commercial tax payers for 2012-13 were Myanmar Brewery Ltd, Rothmans of Pall Mall Myanmar Pte Ltd, Dagon Beverages Co Ltd, IBTC Company Ltd, Myanmar CP Livestock Co Ltd, City Mart Holding Co Ltd, Premier Coffee Co Ltd, Yathar Cho Industry Ltd, Max Myanmar Construction Co Ltd and Straits Greenfield Ltd (Sedona Hotel Yangon).

Top income tax payers of that year were IBTC Co Ltd, Myanmar CP Livestock Co Ltd, Shwe Taung Development Co Ltd, Co-Operative Bank Ltd, Max (Myanmar) Construction Co Ltd, Dagon Beverages Co Ltd, Shwe Me Co Ltd and Asia World Co Ltd.

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