Suu Kyi Says Myanmar to Cut Taxes to Help Mitigate Virus Fallout

March 17, 2020, 2:29 AM

Myanmar’s de facto leader Aung San Suu Kyi said the nation will ease the tax burden and help businesses access finance as part of efforts to counter the economic slowdown sparked by the coronavirus.

Some levies on companies will be cut while the 2% income tax collection levied on imports will be relaxed until the end of this fiscal year, Suu Kyi said in a televised address late Monday. The Central Bank of Myanmar has already announced the first interest-rate cut in more than eight years.

“We will continue to do further measures in response to the nation’s needs,” Suu...

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