Telenor Myanmar stood as the largest taxpayers among foreign companies contributing both commercial tax and corporate income tax sectors for 2017-18 tax assessment year, said the announcement of the Myanmar government. The announcement which was issued by the government stated that Telenor Myanmar ranked first on the commercial tax paying private, international companies list as the one and only foreign company contributing more than 50 million Kyats.
At the same time, Telenor Myanmar also ranked second in the category of corporate income tax paying private, international companies after Moattama Gas Transportation Company. After contributing more than 80 billion Kyats, the company jumped from the fifth place in 2016-17 assessment year.
The company has contributed more than 441 billion Kyats to the Myanmar government under various tax categories. “We are pleased to know that Telenor Myanmar ranks first in commercial tax paying list and second in corporate income tax paying list for 2017-18 fiscal year. Telenor is always trying to accomplish our commitment to stand as a responsible and transparent business in Myanmar and we know that tax revenues are crucial for a developing country like Myanmar. As one of the highest tax paying companies in the country, Telenor’s tax contribution means a positive impact in people’s lives, and making financial contributions to the government,” said Hans Martin Hoegh Henrichsen, the Chief Corporate Affairs Officer of Telenor Myanmar.