Tax & Revenue

Parliament to pass Tax Bill to curb Corruption

Date: 13 November 2018; Type: Legal News; Source: Myanmar Times

Parliament is set to pass a tax management bill that is expected to curb corruption and increase revenue, a senior member of a Pyidaungsu Hluttaw (bicameral parliament) committee said on Monday.

U Myat Nyana Soe, associate secretary of the Pyidaungsu Hluttaw Joint Bill Committee, said the tax bill will no longer require taxpayers to directly deal with tax staff.

“All work can be done by using computers and software, eliminating corruption,” he said during the session of the on Monday. “The law will help prevent the country’s tax revenue from being wasted or misused.”

The bill was submitted by the executive on May 22 and has been discussed thoroughly in previous sessions.

“It is an important law so it has been delayed slightly,” said Pyithu Hluttaw MP U Khin Cho, who is a member of the Public Accounts Committee.

Once the bill is enacted, the country’s tax collection will meet international standards, said U Myat Nyana Soe.

The Pyidaungsu Hluttaw Commission for the Assessment of Legal Affairs and Special Issues met six times to discuss the bill with the Myanmar Supreme Court, the Ministry of Planning and Finance, and the Union of Myanmar Federation of Chambers of Commerce and Industry.

The Internal Revenue Department, which will implement the law, is hoping for passage of the bill during the current bicameral parliament session.

Several Myanmar laws govern taxation, including those related to income tax, commercial tax, and special commodity tax.

The new tax-related bill is expected to harmonise all these laws, including the yearly tax laws of Myanmar, according to U Myat Nyana Soe.

Since it was first submitted in May, the bill has undergone several changes, including the removal of 12 provisions, amendment of 78 provisions and addition of eight provisions.

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