The exact sum of the revenues collected during 2013-2014 financial year has yet to be made public.
“The revenues have increased during 2013-2014 financial year. Similarly, the government’s expenditures will be on the increase in the next financial year as the country will host related ASEAN’s meetings,” said Thurein Zaw, the chairman of the PAJC.
The budget bill will be likely to appear at the parliament during January in 2014. The Union Assembly’s PAJC will assess the budget bill in February and March.
“It is expected that the expenditures of the government next year will become more. This year the government’s income has become better. Next year, ASEAN’s meetings will be hosted. For them, budgets will become more.
“The government has so far received more incomes and revenues this year. Once the Ministry of Finance and Revenues mentions increased revenues in details, this matter will be discussed at the parliament,” said Thurein Zaw.
“Weak points are seen in income tax and commercial tax. The tax supervisory committee inspected and discussed each tax case. The committee managed to instruct those who should pay the tax for enabling them to re-pay the tax. As a result of that, revenues have increased this year,” Win Shein, the minister for Finance and Revenue, told the reporters during the last sessions of the parliament.
The committee carried out closer inspections of the tax evasion of top renowned companies including construction ones. A new tax bill will be submitted at the upcoming parliament for discussion. If tax laws are amended, tax rates must be fixed with the approval of the Union Assembly parliament.
source: Eleven Myanmar
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