Internal Revenue Department (IRD) will place more focus on collecting taxes from the securities and brokerage firms which run operations in Thilawa Special Economic Zone this year

The Internal Revenue Department (IRD) will place more focus on collecting taxes from the securities and brokerage firms as well as companies which run operations in Thilawa Special Economic Zone this year, said U Tet Htut Aung, director of the Large Taxpayer Office under the IRD.

The IRD also expects profitable State-owned enterprises to contribute to the government coffers during the period, he said.

Nevertheless, the bulk of the IRD’s revenue will come from the oil and gas sector in 2018-19, said U Tet Htut Aung.

This will include revenue from commercial, income and special commodities tax within the sector. The IRD is also expecting communications and insurance firms, domestic and international airlines as well as the banks to contribute to government’s coffers during the fiscal year.

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