Telenor Tops Taxpayer List in Myanmar

Yangon – Telenor Myanmar stands as the largest taxpayer among all foreign companies operating in Myanmar, contributing to both the commercial tax and corporate income tax sectors for 2018 tax assessment year, according to an announcement from Myanmar’s internal revenue department last week.

The announcement stated that Telenor Myanmar ranks first on the international companies commercial tax list as the one and only foreign company contributing more than 50 million kyat. At the same time, Telenor Myanmar also ranks second in the category of corporate income tax, contributing more than Kyat 80 billion, the company jumped from the fifth place in 2017 assessment year, to second place this year. Moattama Gas Transportation Co., Ltd. came in first in the income tax category, and paid above 100 million kyats.

From inception to date, Telenor has paid more than 241 billion kyats in corporate income tax, and more than 81 billion kyats in commercial tax. The company has to date contributed more than kyat 441 billion to the Myanmar government under various tax categories.

“We are pleased to know that Telenor Myanmar ranks first in commercial tax paying list and second in corporate income tax paying list for 2018 fiscal year. Telenor is always trying to accomplish our commitment to stand as a responsible and transparent business in Myanmar and we know that tax revenues are crucial for a developing country like Myanmar. As one of the highest tax paying companies in the country, Telenor’s significant tax contribution means a positive impact in people’s lives, and making significant financial contributions to the Government,” said Mr Hans Martin Hoegh Henrichsen, the Chief Corporate Affairs Officer of Telenor Myanmar.

Source: Myanmar Business Today

To see the original article click link here

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.