Govt expects US$2.8-bn rise in revenue this year
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National revenue for this fiscal year is expected to increase by about 2,400 billion kyat (Bt82.6 billion), a big jump from the previous year, according to recently released Myanmar government statistics.
Rises in tax revenue are expected at the ministries of Finance and Revenue, Home Affairs, and Environmental Conservation & Forestry, while a fall in revenue is expected to be seen from the ministries of Rail Transportation, Commerce, Livestock and Fisheries, and Agriculture and Irrigation.
“We project increased revenue from some ministries in 2013-2014 – 555.71 billion kyat from the Ministry of Finance and Revenue, 16.82 billion kyat from the Ministry of Home Affairs, and 332.8 million kyat from the Ministry of Environmental Conservation and Forestry,” said Finance and Revenue Minister Win Shein.
He added there would likely be no increase in other ministries’ revenues and called for better measures so as to achieve full tax revenues.
Meanwhile, concerned committees at the Union Assembly are still discussing Win Shein’s report on this coming fiscal year’s tax collection.
We need to transform the tax collection system, to identify tax-evading companies and to collect tax directly from those liable, in order to obtain the full amount of revenue for the nation, Aye Mauk, secretary to the Planning and Revenue Committee of the Lower House, told Eleven Media.
In Myanmar, 11 departments under seven ministries collect tax under four main categories, divided into 14 sub-categories.
Comparison of Revised 2012-13 Projection & Initial 2013-14 Projection (in million kyats)
No Ministry Rev. 2012-2013 Proj 2013-2014 Proj
1. Home Affairs 10,205.763 27,028.175
(+) 16822.412
2. Rail Transport 13,3625.750 37,845.230 (-) 95780.520
3. Commerce 6,400 6,000 (-) 400.000
4. Livestock & Fisheries 10,745.351 10,607.020 (-) 138.331
5. Environment & Forestry 4,111.603 4,444.404 (+) 332.801
6. Agriculture & Irrigation 2,600.702 1,104.896 (-) 1,495.806
7. Finance & Revenue 1,751286.840 2,307000 (+) 555713.160
Total 1,918976.009 2,394029.725 (+) 475053.716
