Tax receipts fail to meet target
TAX receipts in the second half of last financial year fell below the government’s target, parliament heard on July 25. Fresh back from recess, Pyithu Hluttaw will be concentrating on budget-related matters as it enters its second session.
The government has said it will prioritise tax reform, in the hope of lifting Myanmar from the bottom rung of tax collection rates worldwide.
The Internal Revenue Department has made clear that it will support this goal by tackling corruption within its own ranks.
U Aung Min, deputy chair of the Public Accounts Joint Committee, presented the committee’s tax revenue findings for the second half of the 2015-16 fiscal year, which fell slightly short of expectations.
He attributed the shortfall to the government’s failure to collect all the necessary taxes in the public and private sectors, and called for remedies to ensure better collection.
U Maung Maung Win, the deputy minister for planning and finance, said only 90.75 percent of the taxation target for the six-month period within his jurisdiction had been met, which is K3.956 billion out of K4.359 billion expected.
The Ministry of Commerce managed a 93.14pc success rate, having collected K3.033 billion out of K3.256 billion over the second six months of the year.
The overall success rate was only 83.68pc, yielding K923.259 billion of the K1103.361 billion target, the Pyidaungsu Hluttaw heard yesterday.
In some cases revenue exceeded targets, including in the following tax categories: commercial, state lottery, transportation, stamp duty, land, water and dams, forestry products, metals, lakes, jewellery, and electricity generation, parliament heard.
The areas in which tax fell below the target were liquor, import licences, income, customs duty, rubber, oil and natural gas extraction, and communications services.
MPs wishing to debate the committee’s report were asked to register with the Pyidaungsu Hluttaw director general by today.
– Translation by Khant Lin Oo