Govt wants most of gold mine’s output

THE government wants to keep more than half the gold produced from its largest mine, if a plan to privatise the operation goes through, an official told AFP last Monday. The government announced last month it would privatise at least part of its biggest gold mine – Kyaukpahto – in the central division of Sagaing. An official from the No.2 Mining Enterprise, which currently operates the Kyaukpahto mine, said the mine could produce an average of 19 kilograms of gold per month. “Those who are interested in investing in this gold mine have to pay about 12kg per month” to the government, the official said. If an investor can produce more than 19kg a month, the government would take 10 percent of the extra amount, he said. – AFP

IRD targets media for overdue taxes

THE Internal Revenue Department (IRD) singled out media enterprises for criticism at a meeting in Nay Pyi Taw last Monday, claiming more than half were failing to pay their taxes properly. U Aung Moe Kyi, head of the IRD in Yangon, said of the 122 weekly periodicals registered with the Ministry of Information, fewer than 50 percent were paying their taxes regularly. “All weekly journal producers are required to pay not only commercial tax but also profit tax to our department,” he said. The IRD requested those media companies behind in their taxes to contact the department this month. – Ye Lwin