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Burma’s top taxpayers 2014 announced

Burma’s Internal Revenue Department has published a list of the top 1,000 commercial and income taxpayers in the fiscal year 2013-14.

Ranking at the top of the commercial taxpaying list is military-owned Union of Myanmar Economic Holdings’ subsidiary Myawaddy Trading Ltd, alongside Dagon Beverages Co Ltd, each of whom paid more than 10 billion kyat (US$10 million) in commercial tax for the year.

Myawaddy Trading Ltd, whose parent company is operated by Burma’s Department of Defence, is primarily a trading business and is involved in a range of sectors, including banking, tourism, tobacco and beverages. Dagon Beverages is best known for its Dagon and Skol beers and lagers, and produces a range of soft drinks

Htoo Trading Co Ltd, owned by business tycoon Tay Za, ranked only 31st on the list, paying less than 5 billion kyat in taxes. Among its many pursuits, the Rangoon-based firm is an exporter of timber and beans throughout South and Southeast Asia.

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On the list of the top 1,000 income tax payers, Kanbawza Bank, or KBZ, ranked first with a total of 17 billion kyat in income tax paid for the fiscal year. KBZ also came first for income taxpayers in 2013.

Other companies to make the list include: AsiaWorld Co Ltd, a conglomerate with interests including import-export and transport, Shwe Taung Development, who are mostly involved in construction and engineering; and the Max Myanmar Construction Co Ltd, which is invested in construction, manufacturing and hotels. Each of those companies paid between 4 billion and 5 billion kyat income tax, and ranked 2nd, 3rd and 4th respectively.

Only companies with headquarters based in Burma were ranked in the survey.

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