YANGON — Myanmar President U Htin Kyaw has honored the nation’s highest income and commercial taxpayers for 2016-17 in Naypyitaw, praising them for “supporting and assisting the nation consciously and dutifully during the country’s transition period.”
Ten businesspersons were invited to the Presidential Palace on Tuesday to receive the President’s Honorary Award and certificates of honor for outstanding performance in tax payments. Among them were U Aung Ko Win, chairman of KBZ Bank, who paid 20 billion kyats in income tax in 2016-17, making him the highest income taxpayer for a sixth year in a row stretching back to 2011-2012.
The other highest taxpayers included Diamond Star Co., Myawaddy Bank, Shwe Taung Development Co., Myanmar Economic Holdings Limited, Myawaddy Trading Ltd., PT Power Trading Co., Thilawa Special Economic Zone Management Committee, Jing Hpaw Aung Jade & Jewellery Co., Ltd, and Myanmar Awba Group.
“Paying tax is the duty of each citizen, especially business owners, who are in contact with foreign countries and are believed to be more aware of tax and paying tax. This habit and culture of paying tax is still weak in our country, and thus the taxpayers are being thanked,” the president said during the award ceremony.
The highest commercial taxpayers for 2016-2017 included Dagon Beverages Co., Myawaddy Trading, Denko Trading Co., PT Power Trading, Shwe Byain Phyu Co., International Beverages Trading Co., Asia Energy Co., Royal Myawaddy Distillery Group, City Mart Holding Co. and Regency Material Trading Co.
U Aung Ko Win of KBZ was the recipient of the Legacy Award, conferred by the ASEAN Business Advisory Council-ABAC, in 2017.
The former schoolteacher also leads the Brighter Future Myanmar Foundation, one of Myanmar’s best-known philanthropic organizations, which has spent more than 138 billion kyats on regional development and disaster relief.
Highlights of his assistance efforts include a donation of more than 6 billion kyats to the Daw Aung San Suu Kyi-led Rakhine State rehabilitation program-UEHRD, as well as 300 million kyats for the country’s peace process.