Home | MP3 Songs | Mobile Videos | Ringtones | Movies | Games | Applications | Animations
PT. May 14, 2014 Amendments to Myanmar's tax regime have been long-awaited. Tax Notification. Income Tax Rule. 1. 5. Special Economic Zone. 2. Stamp Duty. There are no changes to the income tax rates for individuals and corporations. Commercial Tax Law. Income Tax Law. Details of the new measures are summarized below. 3. Notable changes include amendments to the personal income tax rates and their application; expansion of the scope of Commercial Tax (“CT”) on services; and adjustment to stamp duty rates. 3. Income Tax Regulation. 21. Commercial Tax Notification. . If a non-resident recipient is a resident Myanmar continues to push tax reforms with the passage of five new tax laws. Notable changes include amendments to the personal income tax rates and their application; expansion of the scope of Commercial Tax (“CT”) on services; and adjustment to stamp duty rates. Tax Rule. 4. Internal Revenue Department. Income Tax Notification. Accounting and audit regulations in Myanmar. Taxation in Myanmar. Books and records. Profit tax is charged on Income from small scale May 17, 2017 When : 18 May 2017. AMCHAM Myanmar - Annual Myanmar Tax Update Myanmar continues to push tax reforms with the passage of five new tax laws. During the seminar, the DFDL Tax Team will discuss recent changes in Myanmar tax laws and regulations, including the 2017 Union Tax Apr 8, 2015 Commercial Tax (“CT”) –shorter list of CT exempt service activities; new CT rate of 3% on construction and sale of buildings; increase in CT rates on certain items; Personal Income Tax (“PIT”)– salary of non-resident foreigners now subject to graduated rate of 0-25%,instead of the flat rate of 35%; new The Internal Revenue Department's (IRD) latest income tax rules are out and they are geared toward persuading tax player to reveal their sources of income. Important changes include the Revenue Law of 2014, introducing changes to the rates for Income Tax and Commercial Tax, which were previously determined based on Tax Law. SD. 24. Where : Yangon. 4. Personal income tax. (a) This Law shall be called “Union Tax Law 2016”. These were aimed at meeting the tax reform agenda that was set by the parliamentary government installed in Sep 6, 2016 The main taxes levied by the Internal Revenue Department of Myanmar are the Corporate Income Tax, the Personal Income Tax and the Commercial Tax, Companies are considered resident in Myanmar if they are formed under the Myanmar Resident Act, the Myanmar Foreign Investment Law – MFIL Jan 25, 2016 1. Taxation of dividends – Myanmar operates a one-tier corporate tax system, under which dividends received from a company or other association of persons are exempt from income tax in the hands of shareholders. Myanmar Companies Act 1914. ITL. Commercial Tax Regulation. If a non-resident recipient is a resident In March, the Myanmar government enacted five new tax laws, which came into effect on April 1 and have brought about several notable reforms. There are some significant changes relating to the special commodities tax and commercial tax. Tax Regulation. Law Amending the Commercial Tax Law, Withholding Tax. 10. Individual income is taxed at the progressive rates ranging from 3% - 50% in Myanmar. Non-resident foreigners are taxed only on income derived from sources within Myanmar. Mar 7, 2017 Myanmar's Union Tax Law 2017 was published last week and will commence operation on 1 April 2017. Double Taxation Agreement. (c) In connection with income tax in Chapter 7: (1) the income from salary May 2, 2016 Myanmar: Union Tax Law 2016 passed. Myanmar is reported to have passed the Union Tax Law 2016, which took effect on 1 April 2016. Income that escaped assessment is taxed at progressive rates ranging from 15% to 30%. (b) The effective date for 2016-2017 financial year in connection with the specific goods tax contained in Chapter 5 and commercial tax contained in Chapter 6 is 1April 2016. PIT. MCPA. SGT. Bearing in mind the incentives offered under the Foreign Investment Law, . On 28 March 2014, the Union of Myanmar Revenue Mar 8, 2016 The Myanmar parliament passed the Union Tax Law 2016. Investment guarantee and protection. Mar 31, 2017 Double Taxation Agreement. Special Goods Tax. From 1972-73 fiscal year to 1975-76 fiscal year, the Internal Revenue Department administered 9 kinds of taxes and duties, namely income tax, commercial tax, (2) in the case of a company, a company formed under the Myanmar Companies Act or any other existing law wholly or partly with foreigner share-holders,. 5% - 15%. 15/2014 and the. These are the Law Amending the Income Tax Law, Pyihtaungsu Hluttaw Law No. Union Tax Law. Property Tax. The government has issued many notifications about these changes and there are some important ones for foreign investors to consider. Small enterprises not covered by the Income tax Law are subject to pay under the. UTL. Bearing in mind the incentives offered under the Foreign Investment Law, From 1972-73 fiscal year to 1975-76 fiscal year, the Internal Revenue Department administered 9 kinds of taxes and duties, namely income tax, commercial tax, (2) in the case of a company, a company formed under the Myanmar Companies Act or any other existing law wholly or partly with foreigner share-holders,. 19. Foreigners working for Union of Myanmar Foreign Investment Law (MFIL) or Myanmar Investment Law (MIL) companies may Tax Law. g. The new laws concern: Special Commodities Tax There has been a series of sweeping tax reforms during the past year in Myanmar. On 28 March 2014, the Union of Myanmar Revenue The years 2012 and especially 2014 witnessed several constructive changes through amendments to the Income Tax Law (ITL), the Commercial Tax Law (CTL), the Stamp Duty Act and the Court Fee Stamp Act. Corporate Income Tax Rates. Mar 1, 2017 without changing the original meanings of the provisions in this law concerning the special goods tax, commercial tax and income tax in this law. IRD. Mar 1, 2017 partment, enterprises exempted from income tax, e. Profit tax law. The relevant Ministries shall request assistance from the President, Union Government, the Pyidaungsu. On March 24, 2014, the Union Government enacted two new tax laws with immediate effect. 8. pursuant to the Myanmar Investment Law, 2017 or the Special Econom- ic Zone Law, 2014, shall apply for confirmation of such tax ex- emption with the Internal Revenue Department. Myanmar PDF, English PDF exemption amount is Kyat 10 Million). 500,000 Kyat per child. Myanmar Investment Commission. Personal Income Tax. Investment incentives. 1. There are no significant changes to income tax. Commercial Tax Rule. 23. 22. Keep up with Myanmar's ever changing tax landscape and minimize your tax risks by joining this informative half-day tax seminar. Foreigners are Direct tax. 2. the relief under section 6 Income Tax Law if the business operates under a permit issued by the Myanmar. Relief for Parents (shall be in the same household list) (including parents-in-law). A nonresident foreigner is subject to tax on Myanmar- source income at a progressive rate ranging from 0% to 25%. Hluttaw, Pyithu Hluttaw, Amyotha Hluttaw, Supreme The 25% rate applies to chargeable income exceeding MMK 30 million. Individuals earning up to MMK4,800,000 are now exempt from tax (previously MMK2,000,000) Oct 2, 2017 A complete guide to Myanmarese capital gains tax rates, property and real estate taxes. Relief for Child. Under the current tax law non-resident foreigners (individuals residing less than 183 days per year in Myanmar or foreign entities, associations, and organizations including their Myanmar branches) are charged 35% on Myanmar May 2, 2016 Myanmar: Union Tax Law 2016 passed. Kyat 1 million (limited one spouse). The taxes received by the Union contained in the laws relating to the budget are the taxes earmarked The Ministry concerned shall collect the earmarked taxes at the tax rates contained in this law for the types of . Capital gains – There is no separate capital gains tax law. Foreigners working for Union of Myanmar Foreign Investment Law (MFIL) or Myanmar Investment Law (MIL) companies may be taxed at the same tax rates as a tax resident, regardless of their period of stay in Myanmar, under the tax incentives that may be granted to the MFIL/MIL companies. Statutory requirements. MIC. Property-related income of Read a March 2016 report [PDF 287 KB] prepared by the KPMG member firm in Myanmar: Myanmar Tax Alert - Union Tax Law 2016. These were aimed at meeting the tax reform agenda that was set by the parliamentary government installed in The major changes will take place regarding the tax on the income of non-resident foreigners. Income tax is levied Resident nationals and foreigners are taxed on their worldwide income under the Myanmar Income Tax Act. Hluttaw, Pyithu Hluttaw, Amyotha Hluttaw, Supreme Item Qualifications Tax Rate Resident Foreigners Staying ≥ 183 days Progressive rate from 1% to 25%1 on worldwide income Non – Resident Foreigners Staying < 183 days Progressive rate from 1% to 25%1 on Myanmar income Expatriate working under Myanmar Investment Law or the old Foreign Investment Law expenses and depreciation. Myanmar financial reporting standards. Kyat 1 million per parent. Individuals earning up to MMK4,800,000 are now exempt from tax (previously MMK2,000,000) There has been a series of sweeping tax reforms during the past year in Myanmar. After the Union Tax Law 2016 was approved by parliament on January 25, the IRD announced the new tax laws for the coming fiscal year through state owned The years 2012 and especially 2014 witnessed several constructive changes through amendments to the Income Tax Law (ITL), the Commercial Tax Law (CTL), the Stamp Duty Act and the Court Fee Stamp Act. SEZ. Myanmar PDF, English PDF Mar 1, 2017 partment, enterprises exempted from income tax, e. Relief for Spouse (shall have no taxable income). Corporate income tax