Top tax payers includes 'cronies'
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An additional list of top tax payers on the 2013-2014 fiscal year will include companies that paid taxes late and several companies owned by people affiliated with the Myanmar government, commonly known as cronies.
The late-payers' list was published on the Finance Ministry’s Internal Revenues Department (IRD) website. It includes 177 Myanmar business persons and companies that paid taxes after March 31, 2014.
Since the taxes were paid behind schedule, the department did not include these companies in the lists of Myanmar's top 1,000 payers of income and commercial taxes.
Many of the companies that paid their taxes late are well-known crony-owned companies.
Associate of Civil Engineering Construction Group Co Ltd (ACE), owned by Union Minister Tint Hsan, is among the 177 late tax payers. ACE paid between Ks 600 million and Ks 2 billion.
Lucre Wood Company, which which is affiliated with renowned tycoon Tun Myint Naing of Asia World is also included in the list. The Lucre Wood Company paid below Ks 200 million in taxes.
Family Entertainment Group, which broadcasts 5 channels, including 5 Movie, paid less than Ks 50 million in its late tax payments.
Shwe Than Lwin Co, owned by Kyaw Win, was listed for paying Ks 50 million. M.G.S Beverages Co Ltd, owned by Thein Tun of the Tun Foundation, was listed for paying less than Ks 100 million. Natural World Co, which runs several businesses in People’s Square and People’s Park, paid less than Ks 50 million. AA Electronic Co Ltd, which is closed to Myat Thin Aung, paid less than Ks 200 million.
