Pyidaungsu Hluttaw approves Union and Region or State Budget Bills (2026)

 

The second regular session of the Third Pyidaungsu Hluttaw continued for the 10th day at its convention hall of the Hluttaw Complex in Nay Pyi Taw yesterday morning.

Secretary of the Joint Bill Committee U Zin Min Htet submitted each paragraph of the Union Budget Preparation and Submission Bill (2026) and the Region or State Budget Preparation and Submission Bill (2026) separately, and Pyidaungsu Hluttaw Speaker sought the approval for the each paragraph of both bills from the Hluttaw.

Deputy Minister for Finance and Revenue Daw Than Than Lin submitted a proposal to approve the bills. The Pyidaungsu Hluttaw approved the two bills.

With regard to the proposal sent by the President on further exemption for specific goods tax and commercial tax for diesel HSD (500 ppm) and Liquefied Natural Gas, Deputy Minister for Finance and Revenue U Han Win Aung stated that the State is working to broaden the tax base and improve the collection of taxes, rather than increasing tax rates, in order to offset the reduction in tax revenue resulting from the tax exemptions granted on diesel HSD (500 ppm) and liquefied natural gas (LNG).

With the approval of the Union Government meeting, this proposal is being submitted to the Pyidaungsu Hluttaw for approval to extend, for an additional one month, the exemptions from the Specific Goods Tax and Commercial Tax on diesel HSD (500 ppm), as well as the exemption from Commercial Tax on liquefied natural gas (LNG).

Under the 2026 Union Tax Law, approval of the Pyidaungsu Hluttaw is hereby sought to grant a further one-month extension, from 1 to 30 June 2026, of the exemption from the Specific Goods Tax and Commercial Tax on diesel HSD (500 ppm) diesel, as well as the exemption from Commercial Tax on liquefied natural gas (LNG).

The Pyidaungsu Hluttaw Speaker announced that lawmakers wishing to discuss the proposal can list at the director-general of the Pyidaungsu Hluttaw Office.

The Pyidaungsu Hluttaw will continue its 11th day meeting on 28 July.

MNA/TTA

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