K90 billion collected from foreign taxpayers last year

Some 9000 foreign residents paid income taxes totalling K90 billion (US$58.25 million) to the government during the previous fiscal year, says U Min Htut, director general of the Internal Revenue Department.

“In the 2017-2018 fiscal year, income tax revenue totalled nearly K200 billion, K90 billion from foreigners and about K110 billion from local taxpayers,” he told The Myanmar Times.

“As there are more foreign nationals working here this current fiscal year, we expect to collect higher income taxes next year,” he added.

The Internal Revenue Department cooperated with other ministries to ensure the collection of receivable taxes from foreigners.

“We make efforts to collect fully receivable taxes from foreigners. For example, we discussed allowing the extension of their visas only if they can show tax clarification documents,” he said.

U Min Htut said his office held discussions on this issue with officials of the Ministry of Hotels and Tourisms, the Ministry of Labour, Immigration and Population as well as the Ministry of Commerce which is affiliated to the President’s Office.

Foreigners who receive their salaries in US dollars have to pay their taxes according to the exchange rate of the Central Bank, and their respective companies or organisations have to pay the taxes in the local currency.

Expatriates working for foreign aid organisations and those working on projects funded by low-interest foreign loans are normally exempt from the tax according to the agreement, the Deputy Minister of Commerce told parliament.

Source: Myanmar Times

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