U Maung Maung Win, Deputy Minister for Planning and Finance. Photo: MNA
U Maung Maung Win, Deputy Minister for Planning and Finance replied to the suggestions as to the Bill on Tax Law of the Union, 2017 presented by Hluttaw representatives at the 8th day meeting of Pyidaungsu Hluttaw 4th regular session held yesterday, “Collective discussions over Bill on Tax Law which must be used as a Manual, in making an effort to collect much more taxes which will help mainly support the State’s income for the fiscal year 2017-2018 will be able to increase the income of the State and it will help the practice of paying tax among the public develop.”
And, the deputy minister said, “As regards the Bill on Tax Law of the Union 2017, the report of the Joint Bill Committee concerning the bill on the tax of the Union 2017 and constructive criticism and suggestions made by Hluttaw representatives indicate that it is targeted to help collect more taxes for the State and for all the public to accept the collection of tax in broader assessment areas willingly. Annual tax law of the Union is a law prescribed for one year period of the financial year concerning paying taxes, tax exemption, reducing taxes, commodities and services to pay tax and those exempted from paying taxes, based on the prescription described in the income tax, commercial tax, special commercial tax, and stamp acts—the original laws on tax. The law is the one to be taken into consideration over previous laws and various economic situations of the State. Compared to those of other countries, ratio of tax collection and GDP is very low.
The accomplishment of public-orientated transparent collection of tax, conducting arrangements to promote staff’s skills for making tax-payers pay taxes in rightful ways and arrangements for tax payers to pay taxes by themselves instead of being assessed by the income-tax offices are being made.”
Dr Myat Nyana Soe, secretary of Joint Bill Committee, discussed, “The system of income declaration is exercised international sphere without changing tax rates for two or three years, though Tax Law of the Union was promulgated for the annual collection rates in accord with the prescription of the Constitution. For this, tax payers cannot be under the burden of paying taxes, being able to run their businesses on the same level. It is urgently needed for the culture of paying tax develop in the country and for the tax rates to be stable.”
As regards the bill, Speaker of the Hluttaw announced that approving the suggestions of Hluttaw representatives will be made in the meeting of Pyidaungsu Hluttaw to be held on 22nd February, based on the submissions of the Joint Bill Committee on the bills.
Then, U Kyaw Soe Lin of Pyigyi Tagun constituency, secretary of Joint Bill Committee read out the report of findings and comments of the Joint Bill Committee.
Afterward Speaker Mahn Win Khaing Than, announced that parliamentarians could put their names to the Hluttaw, if interested in taking part in the debate, concerning projects including policy and principles of the bill.
At today’s meeting, putting the message sent by the President of the State on record, clarification of the bill on tax law from member of the Union Government and Joint Bill Committee on bills and reading the report of the Joint Bill Committee on national planning bill were made.
9th day meeting of 2nd Pyidaungsu Hluttaw 4th regular session will be held on 22nd February, it is learnt.—Myanmar News Agency