Chiang Mai (Mizzima) – Burmese President Thein Sein told representatives from social and business organizations that the government would reduce taxes to stimulate economic development, according to businessmen. Only last week, the government reduced export taxes.
During a meeting in Naypyitaw on Wednesday, the president said that the government would cut other taxes and fix a new currency exchange rate, according to Khin Shwe, the chairman of the Myanmar Tourism Board. The specific amount and other details of a tax reduction were not available.
“He said the government would lower taxes especially for poverty alleviation and economic development. He said he would continue to reduce taxes,” Khin Shwe told Mizzima.
The new Burmese government has exempted rice, beans and pulses, corn, sesame, rubber, freshwater and saltwater products and animal products from export taxes for six months from August 15 to February 14. Exporters now pay a two per cent profit tax, which was reduced from five per cent.
In other political matters, Thein Sein on Wednesday also invited Burmese citizens who live in foreign countries to return home to work for the development of the nation.
He said that people who have not committed crimes could return immediately. For people who committed some crimes, their sentences would be commuted, he said.
Writer Than Myint Aung, who attended the meeting as a central executive committee member of the Free Funeral Service Society (Rangoon), told Mizzima: “It is very good that the new Burmese government has invited citizens who had to flee to foreign countries because of their beliefs and personal sacrifices and who have not harmed the people to come back to Burma and live peacefully.”
In the meeting with more than 40 business and social organizations, Thein Sein also talked about recent government initiatives such as increasing pension rates, reducing taxes and poverty alleviation during the new government’s first five months in office.
About 400 people from business and social organizations attended the meeting including the Myanmar Rice Industry Association, Myanmar Edible Oil Dealers Association, Myanmar Pulses, Beans and Sesame Seed Merchant Association, Myanmar Gold Entrepreneurs Association, Myanmar Rubber Traders Association, Myanmar Fishery Association, Myanmar Livestock Federation, Myanmar Engineering Society, Doctors’ Association, Myanmar Maternal and Child Welfare Association, Myanmar Women’s Affairs Federation, Myanmar Red Cross Society and Myanmar Nurses Association.
