Mizzima awarded global JTI certificate for reliable news on Myanmar

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Mizzima Mizzima, one of Myanmar ’s most prominent news outlets and a press freedom advocate, obtained the Journalism Trust Initiative ( JTI ) certification from global audit firm Bureau Veritas , JTI says in a press statement 5 January.  Operating in clandestine mode within Myanmar and supported by an exiled team, Mizzima strives to fulfil its role as reliable source of news and information for the Myanmar public. “Your Journalism Trust Initiative certification affirms what audiences already know: that principled, transparent journalism matters. Congratulations on this achievement and on your continued contribution to informing citizens about Myanmar,” says Benjamin Sabbah , director of Journalism Trust Initiative “Myanmar’s ongoing conflict has created an intensely contested media landscape, where mis- and disinformation are increasingly deployed to reinforce state propaganda and the prevailing “official” narrative. Although Mizzima is already regarded as one of the most trusted ...
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Exporters to pay 2 percent profit tax; no export tax

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Tuesday, 16 August 2011 14:54 Nyi Thit

Chiang Mai (Mizzima) – In a move to stimulate the economy, exporters in Burma are getting a big break. The Internal Revenue Department has lowered the profit tax from five per cent to two percent; the export tax has been eliminated.

Exporters receive a big tax break: empty shipping
containers are seen in Thaketa Township in
Rangoon in this file photo. Photo: Mizzima
The new tax rates were announced following a meeting on August 11 in Naypyitaw, the capital. The tax rate was reduced after the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) urged the authorities to cut export taxes more in order to lower the price of export goods to compete in foreign markets.

Earlier, businessmen had to pay an 8 per cent export tax and 2 per cent profit tax; later, the export tax was cut to 5 per cent.

A well-known businessman in Rangoon said, ““The reduction is very good for exporters. In fact, other countries do not impose taxes on export goods. Only import taxes are imposed.”

The Burmese kyat has recently strengthened against the US dollar, reducing export income and exporters have suffered.

“Now, export businesses will be able to do better than before,” said a businessman.

The currency exchange rate in Rangoon on Tuesday was 750 kyat per 1 US dollar.

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