By Nyein Nyein
The Yangon Region Transport Authority (YRTA) will, if required, pay income tax on its earnings from leasing of land and vehicle supervision charges, said U Hla Aung, Joint Secretary of the YRTA.
He made the remarks at an event marking the 3rd anniversary of the Yangon Region Transport Authority (YRTA), held on 16 January at the Sky Star Hotel.
“The YRTA is standing by collection of management charges. We have no burden to pay the income tax as it will be spent on the people and the country. We have our own businesses, such as leasing of shops and buildings transferred by the former All Private Bus Lines Control Committee. During their time, the committee also paid out the tax. The authority concerned will review this matter, and we are willing to pay the income tax, if it is needed,” said U Hla Aung.
According to a report on the Yangon Region government’s spending in the 2017-2018 financial year, the YRTA’s net income was over K7.6 billion. The net income was derived from the lease of land and vehicle supervision charges, after deducting spending. But, the YRTA did not pay an income tax. The YRTA’s gross income was estimated at K9.487 billion, while spending was approximately K1.796 billion, as per the Yangon Region Auditor General’s report.
Regarding the income tax payment, the YRTA is willing to follow the rules, if the authority directs us to pay it, said U Hla Aung. The YRTA was formed to improve transport facilities in Yangon for the convenience of the public. Yangon Region Chief Minister U Phyo Min Thein was appointed as the Patron of the transport authority, while the Yangon Region Minister Daw Nilar Kyaw was made the Chairman. In April this year, the number of members was increased to 22 from 16, with the YRTA appointing the Security and Border Affairs Minister as Vice Chairman 1 and the Yangon Mayor as Vice Chairman 2, besides officials from related departments and organizations. (Translated by Ei Myat Mon)