To date contributed more than Kyat 295 billion under various tax categories
The Myanmar government’s annual list of top tax payers shows that Telenor paid more than Kyat 24 billion in corporate income tax, making the company one of the top tax paying international companies in Myanmar.
“By connecting people to what matters most, Telenor has record time established itself as one of Myanmar’s most successful international companies. I am pleased to see that as a Myanmar company we are making a positive impact in people’s lives, and making significant financial contributions to the Government”, says Lars Erik Tellmann, CEO of Telenor Myanmar.
Telenor ranks fifth on the highest corporate income tax paying international companies list. According to the Finance and Planning Ministry’s Internal Revenue Department’s announcement Telenor is the only telecom company among the top list, and other top 4 corporate tax paying international companies are from oil and gas, and manufacturing sectors.
Telenor paid more than Kyat 24 billion in corporate income tax in 2016-2017 fiscal year. From inception to date Telenor has paid more than Kyat 200 billion corporate income tax and more than Kyat 56 billion commercial tax. The company has to date contributed more than Kyat 295 billion to the Myanmar government under various tax categories.
“Tax revenues are beneficial for countries like Myanmar and its citizens, and as a responsible company we are pleased to be among the top companies paying tax to the government. Since our inception we have expressed our commitment to be open and transparent in our operations in Myanmar, and setting standards for the industry. Financial transparency is one important solution to develop business in a sustainable manner and we expect that more industries including telecom will improve transparency in their financial reporting in the near future,” says Lars Erik Tellmann.
Telenor won multiple prestigious global awards including ‘Best Emerging Market Operator in Asia’ and ‘Social Innovation Leadership’ awards in 2017 for the company’s outstanding contributions to the development of telecommunications sector in Myanmar.
To date Telenor has invested more than USD 2 billion and will continue to invest more to further improve coverage and quality in the coming years. Telenor operates Myanmar’s largest and fastest growing data network, serving more than 19 million customers across the country. Today Telenor maintains its leading network position with coverage in all States and Regions and including remote rural areas in Myanmar. Additionally, Telenor has established the country’s best 4G network with network footprint in more than 120 top cities and townships across the country.
TELENOR MYANMAR MEDIA CONTACTS
Alex Nyi Nyi Aung (Mr.)
Corporate Communications, Telenor Myanmar Ltd