The amount of taxes on sales transactions during the recently concluded Third Yangon International Gems and Jewellery Fair have yet to be determined, officials said. Several days after the conclusion of the fair, the relevant authorities still have not agreed on the taxes for certain transactions,” Daw Myint Thet Naing, vice chair of the Yangon […]
Gem buyers exempted from tax
January 10, 2020 by
Foreigners who purchase jewellery and gems at the Yangon International Gems and Jewellery Fair 2020 will exempted from paying a 5 percent commercial tax, according to Daw Nyunt Nyunt Khine, joint-treasurer at the Gems and Jewellery Entrepreneurs Association (GJEA). Foreigners entering the country to participate at the fair will also be given easy access to […]
Myanmar Rolls out a Tax Amnesty, but How Helpful Will It Be?
November 29, 2019 by
But as the 2020 election draws near, Myanmar’s new law may not be enough to quell the uncertainty among investors when it comes to this troubled market. Chris Hughes, founding partner of SCM Legal, gives a somewhat cautious assessment of the new tax amnesty. “I’d like to say it will have a large and very […]
Trade body seeks streamlining on duties for double-cab trucks
October 24, 2019 by
The Myanmar Automobile Manufacturers and Distributors Association (MAMDA) has requested Vice President U Myint Swe to classify double cab trucks as commercial vehicles and levy a single tax on the category of vehicles. The MAMDA made the request during a regular meeting between Private Sector Development Committee led by the vice president and private enterprises […]
Tax amnesty could spell big changes for Myanmar
September 27, 2019 by
How would you feel if a big part of your monthly salary was taxed while your boss paid almost nothing? Or if your small business paid its tax and your competitor didn’t? Not too happy, and probably worse upon hearing the Myanmar government’s plan to offer these tax cheats an amnesty. Instead of facing penalties, […]
Ycdc partners with local mobile-payment systems
September 23, 2019 by
The Yangon City Development Committee (YCDC) teamed up with AYA Pay, KBZ Pay and CB Pay to build a YCB payment system enabling people to pay various bills through their applications. The application will enable users to pay various bills such as land tax, property tax, general tax, and garbage bills which will save customers […]
Construction industry hoping for less taxes
August 20, 2019 by
The construction industry is hoping for lower taxes for the industry, which had been lobbied for last year but was not approved when the Union Tax Bill 2019 was submitted to Pyidaungsu Hluttaw on August 7. Section 25 of the bill includes the tax reduction asked for by the industry. Construction executives pointed out that […]
Yangon to tax hostels in biggest migrant worker city
July 3, 2019 by
The Yangon City Development Corporation (YCDC) will tax hostels in Hlaing Tharyar township, which has the most domestic migrant workers in the city, said U Soe Thein Aung, YCDC chair of the township. There are over 6000 hostels that have at least 10 rooms each in Hlaing Tharyar. U Soe Thein Aung said that under […]
Property market in Myanmar expected to stay flat till 2020
May 10, 2019 by
Myanmar’s property market has been lacklustre since 2015 and this situation is expected to continue until next year, said U Myo Myint, general secretary of the Myanmar Construction Entrepreneur Association during an industry discussion in Yangon last week. “This is the current situation. However, what is good is that there will be no worsening in […]
