"Myanmar’s poorly regulated Jade and Gemstones production means up to two-thirds of all the country produces is possibly not subjected to tax, a new report by the Natural Resource Governance Institute (NRGI) reveals. Experts believe that this, as well as chronic undervaluing of registered jade and gemstones, costs the country billions of dollars in lost tax revenue. Myanmar produces 90 percent of the world’s jade and is a leading producer of rubies, sapphires, and other varieties of coloured gemstones. China is the largest beneficiary of this trade, with untold amounts of jade and gemstones being imported and smuggled across the border to meet the demand of its growing elite. Myanmar, a former British colony, was under military rule from 1962 to 2011, during which time it was increasingly internationally isolated and became one of the world’s most impoverished countries. Military rule was dissolved in 2011 and since then, the country has engaged in a turbulent liberalisation process. Its GDP has grown steadily over the past several years, reaching an all-time high of $69.32 billion in 2017. Despite significant growth, 32 percent of Myanmar’s citizens still live in poverty and the nation’s infrastructure is ranked 146th out of 148 countries in the world. This is in large part because Myanmar does not collect enough tax. A recent report by the Asia Foundation revealed that Myanmar’s tax receipts for 2016-17 were only 6 to 7 percent of its GDP, the lowest among all ASEAN nations..."