Every country relies on their incomes to operate and manage various measures for the State and the people on a daily basis.
These incomes can be earned from the production of State-owned and private-run enterprises or levying the tax. All global countries classify various kinds of tax to be levied over businesses and trading.
Developing and developed countries are based on trade surplus and trade deficit which limit their incomes. The countries encountering the trade deficit are sure to struggle operation of the State machinery, while the countries facing the trade surplus will enjoy smooth and betterment in the process of all sectors solving problems by spending incomes allotted from the tax.
In fact, local businesspersons need to strive for extending the production of quality products to be exported to the international market. The government will levy tax over the incomes of those businesspersons and spend it on nation-building tasks.
In the first four-monthly period of the 2020-21 financial year, Myanmar sent export products worth US$191.715 million to Thailand and bought import goods worth US$700.463 million. The total trade volume between the two countries during the period amounted to US$1,620.177 million. That is why more than US$200 million worth of trade surplus was kept in the hand of Myanmar.
Regarding the trade surplus based on calculation over the data mentioned by the Ministry of Commerce, Myanmar has been bagging hundreds of millions of trade surplus in exportation and importation with Thailand since the 2016-2017 budget year.
The trade surplus of Myanmar based on the trade volume conducted with Thailand amounted to more than US$1,000 million in 2017-20 financial year, more than US$1,000 million in 2018-19 financial year, more than US$100 million from 1 April to 30 September 2018, more than US$600 million in 2017-18 financial year and more than US$100 million in 2016-17 budget year respectively.
In assessing the aforesaid trade surplus data, everybody can see the gradual growth of the State economy. Such kind of surplus income could contribute much to booming the State economy.
In fact, local businesspersons need to strive for extending the production of quality products to be exported to the international market. The government will levy tax over the incomes of those businesspersons and spend it on nation-building tasks.
As such, the income based on trade surplus and taxes is interrelated as a key role to operate the State machinery in a smooth process with prosperity.
