Myanmar's income from taxes drops

[darnott@xxxxxxxxxxx]

Myanmar's income from taxes drops 

Xinhua, Yangon, 27 October 1999. Myanmar's State Internal Revenue 
Department collected a total of 27.521 billion kyats (91.7 million U.S.
dollars) 
of taxes in the first half of this year, a 2.5 percent drop from the same
period 
of last year. According to the latest official economic indicators, in the 
half-year period, Myanmar also gained a total of 389 million dollars from
customs 
duties, a fall of 46.34 percent.  

To cope with the impact of the Asian financial crisis, the Myanmar government 
has adopted some new policies to collect taxes in the country in recent years. 
Exemption of customs duties on the import of agricultural implements,
including 
related machinery, pesticide and fertilizer, was among the measures taken to 
ensure that agriculture, the mainstay of the country's economy, is not
effected. 

Other measures include raising the customs duties of luxury goods imported 
and levying an 8 percent commercial tax on commodities sold in foreign
currencies beginning  January 1, 1999. 

[NOTE FROM DAVID ARNOTT: IF MY ARITHMETIC IS CORRECT, THE FIGURES ARE USING
A 300KYAT/US$ EXCHANGE RATE]
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