Tax evaders to get overseas travel ban

THE government will soon introduce new measures aimed at preventing private companies accused of tax evasion from doing business in the country, a local journal reported last week. The biennial renewal of companies’ business licences will be granted only upon full settlement of their profit tax levied on them annually, according to the Kumudra journal. People responsible for companies will have to undergo a tax clearance check if they apply to leave Myanmar, it said. People found to be evading taxes will be banned from travelling abroad until the financial debts have been settled.
– Xinhua

Gem, jade auction offers 1300 lots

THE government last week started an auction of more than 1300 lots of jade and gems in the third of its kind this year. The sale included 312 lots of gems and 1029 lots of jade, the New Light of Myanmar said on Tuesday. Some 890 buyers – including 335 foreigners – began viewing the lots on Monday and sales started on Thursday. – AFP

KOICA trains gas, mining officials

THE Korea International Cooperation Agency (KOICA) is planning to hold two courses to train Myanmar government officials from the Ministry of Energy and Mines in exploration of minerals and mine project development, the agency said last month. The courses, to be offered in South Korea in September and November respectively, follow a course for three officials from Myanma Oil and Gas Enterprise and Myanma Petrochemical Enterprise in natural gas industry development and technology that ran from August 20 to September 2, KOICA said in a press release.