Written by Admin on January 8, 2014. Posted in News, Top Stories
Myanmar government said it would would submit a Taxation Bill to the parliament in the upcoming ninth session, President U Thein Sein revealed at Financial Commission in Nay Pyi Taw Tuesday, according to the state media.
The meeting was attended by top government officials and local government chief ministers.
The meeting attended by almost all cabinet ministers mainly focused on the Union Budget for 2014-2015 FY and 2014 Union Budget Bill.
The President stressed the need for harmony between the National Plan and the Union Budget, both drafted by the government.
The President said that his government could manage to balance the budget more conveniently year after year. He also said that more budgets could be allocated to the local governments.
Myanmar made more than K 16 trillion revenue and spent K 19 trillion last FY, leaving the deficit of nearly K 3 trillion, said the President.
He also said the Union government shared about K 1.5 trillion to the local governments and loaned more than K 25 billion to them. The estimated GDP for 2014 is K 66197.109 billion.
The President hinted that the health and education sectors would enjoy increased budget allocations in next FY, according to the report.
http://www.information.myanmaronlinecentre.com/govt-to-submit-taxation-bill-to-parliament-in-upcoming-session/
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