August 19, 2016

IRD honours KBZ for top income tax payment for 2014-15 FY

The Internal Revenue Department (IRD) honoured yesterday the Kanbawza Bank Ltd for becoming the top income tax payer of 2014-2015 fiscal year.
Kanbawza Bank, which is often branded as KBZ, was once again the top income tax payer this year with more than K22 billion in tax payment during the 2014-2015 fiscal year.
With the achievement this year, KBZ has achieved the top position for the largest income tax payer for four consecutive years.
IRD said in the certificate of honour presented to the Kanbawza Co Ltd that it appreciated the achievement of the Kabawza Bank Ltd for its contribution to the  State with largest income tax payment and for  its efforts for development of the economy of the country, wishing the Kanbawza Bank Ltd a big growth in its economy in  the  future and further contribution to the development of  the country and  the  peoples, said the certificate of honour awarded by the IRD.
KBZ Bank paid more than K6 billion in tax during the 2011-12 fiscal year, more than K10 billion during the 2012-2013 FY and more than K17 billion during the 2013-2014 FY.
Meanwhile, KBZ  paid the State nearly 23 billion in prepaid tax for the 2015-206 FY and K28 billion for the 2016-207 FY and  is currently paying more  than K32 billion for  the  2017-18  FY.
KBZ Bank Ltd is operating its services nationwide with more than 600 ATM machines and more than 17,000 employees, in accordance with the guidance of the Central Bank of Myanmar.
It has also spent more than K105 billion so far on its nationwide philanthropic work  including education,  health,  regional development and  disaster preparedness through its KBZ Brighter Future Myanmar Foundation.— Thura Lwin (Eco)


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