Sky Net TV starts sharing monthly profit with government

Sky Net TV starts sharing monthly profit with government

Published on Saturday, 31 May 2014 21:25

MRTV Director General Tint Swe (Photo-EMG)

Sky Net Television, projected to earn Ks 5 billion a month, has started paying Ks 30 million (about US$3,000) of its monthly profit to the government, said the director general of Myanmar Radio and Television on Friday. 

The television station, operated by Shwe Than Lwin Media which is the country's leading private media company, has been sharing the profit to the state for eight months because a three-year tax exemption granted by the government in 2010 was void. 

The operator paid Ks 240.8 million from July 2013 to March 2014 to the government through the Information Ministry. The four per cent benefit went to the state after Sky Net had paid taxes for the income derived from subscriptions and advertisements. 

Under the contract awarded by the government, Sky Net is entitled to 96 per cent of the profit and only 4 per cent will be paid to the state.  

Information Ministry-organised press conference on May 30 (Photo-EMG)

Based on the Friday's press conference, the station operator will pay additional taxes after audited figures have been released in July, when taxes would be checked. 

Tint Swe, the director general of MRTV, said the ministry did not know the number of subscribers to Sky Net TV across the country. 

According to some sources, about 500,000 Sky Net signal receivers have been sold to subscribers. And the numbers are expected even higher because the TV station refused to comment after being contacted.

The projection of station's revenues stands at Ks 5 billion based on 500,000 subscribers. 

The director general said the government collected taxes from the station operator from 2010 to 2013.

However, Shwe Than Lwin Media is not on the list of Myanmar's top 500 tax payers, according to official data released last year.

The ministry has formed a broadcasting governing body in order to scrutinise the functions of broadcasting media operating under contracts and to check whether the operators shared benefits with the state. 

Moreover, the existing media contracts are being revised to meet the current situation and requirements needs. The draft contracts will be sent to the relevant departments this month. 

Tint Swe used to serve as director of the censorship department of the Information Ministry under the military regime. He was then known for literary Kempeitai. Presently he is still writing news articles seen as government propaganda. 

http://www.information.myanmaronlinecentre.com/sky-net-tv-starts-sharing-monthly-profit-with-government/