Responsible Tax Management
Our Contributions to Economy and Society
KBZ Bank routinely figures among Myanmar’s highest taxpayers, doing our part for nation-building, contributing to the national and local budgets to fund necessary public services and goods.
In 2019, the bank was honoured for having paid the highest amount of income tax for seven consecutive years, from FY 2010-11 to FY 2016-17. We were presented the President’s Honorary Award by President U Win Myint in recognition of our contributions as a responsible business.
As a leading Myanmar company and the country’s largest bank, we take our role in helping to drive its development seriously and view paying taxes not just as a legal obligation but also as our civic responsibility. Alongside products and services targeted at improving financial inclusion, and Corporate Social Responsibility initiatives that seek to address social, environmental, and community concerns, it allows us to do our part in building a better Myanmar.
Tax Payment Summary
|Financial Year||Income Tax Paid* (in MMK)|
|FY 19-20||44,769,065 MMK|
|FY 18-19||3,325,329,624 MMK|
|FP 18-18||12,829,774,879 MMK|
|FY 17-18||6,263,166,935 MMK|
|FY 16-17||25,355,474,609 MMK|
|FY 15-16||23,214,308,146 MMK|
|FY 14-15||23,155,816,535 MMK|
|FY 13-14||22,014,943,950 MMK|
|FY 12-13||17,062,667,619 MMK|
*To ensure audit independence, KBZ Bank uses a different firm for audit and non-audit services.