Myanmar Must Double Tax Collections: IMF
by Mary Swire, Tax-News.com, Hong Kong
09 February 2017
Myanmar must double its revenue collections to 15 percent of GDP from 7.5 percent to fund measures to sustain economic growth, the International Monetary Fund said in its Article IV report.
The report said that Myanmar, which has one of the lowest effective tax burdens in the world, had boosted revenue collections through efforts to improve administration, including by establishing a large taxpayer office in 2014.
The IMF said Myanmar must continue to "tackle its tax system at a deeper level." It recommended that authorities should update tax legislation and in particular the income tax law, introduce anti-corruption measures, streamline tax exemptions and incentives, and further improve on tax administration, including by passing the draft Tax Administration Procedure Law.
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