BUSINESS – 32 percent hike in revenue for Burma’s taxman

Burma’s Internal Revenue Department has announced a 32 percent increase in tax collected in the 2013-14 fiscal year, with payments totalling 3.5 trillion kyat (over US$3.5 billion). The increase is lower than the previous year which saw a 75 percent hike in tax collected. According to the World Bank, Burma’s economy is projected to grow at 6.8 percent in 2013-14. However, in November it raised concerns about the country’s inflation which hit 7.3 percent in August 2013.