A seminar on tax education at the Sky Star Hotel in Yangon was jointly organised by the Myanmar Rice Federation and the IRD. The LTO was inspecting the taxpayers included on its books, said Min Htut, director-general of the IRD.

“The LTO levies taxes based on a self-assessment system in accord with the law. This is a routine process for the LTO and taxpayers,” Mya Mya Oo added.

The government has released a list of the 1,000 top taxpayers for the 2014-15 fiscal year. Kanbawza bank and Denko Trading Co Ltd topped the lists by paying more than 20 billion kyat in income and commercial taxes.

For 2014-15, the other top 10 income taxpayers were Myawady Bank, Myawady Trading, Myanmar Economic Holdings Ltd, Global Treasure Bank, International Beverage Trading Co Ltd, Cooperative Bank, Ayeyarwady Bank and White Crane Trading.

Ten top commercial taxpayers were Myawady Trading, Myanmar Winery & Distillery Co Ltd, White Crane, Asia Energy Trading Co Ltd, International Beverage Trading Co Ltd, City Mart Holding Co Ltd, Six Winner Brothers Co Ltd, Benhur Trading Co Ltd and Shwe Mi Co Ltd.

Tax revenues earned in 2011-12 was 1.5 trillion kyat, 2.7 trillion kyat in 2012-13, 3.5 trillion kyat in 2013-14 and 4.4 trillion kyat in 2014-15.

The IRD has informed all taxpayers about the submission of the income declaration form for the last financial year. Now the IRD has earned 2.4 trillion kyat for the first six months.

The Eleven Media Group is the only print media group on the 500 taxpayer list. It is also on the top 100 taxpayers’ lists. The EMG and Eleven Trading Co have paid 2 billion kyat over the last five years.