Taxpayers have been given until December 30 to pay a 3 percent tax on undisclosed sources of income due September 30. This is to avoid crowds at the tax office and also because a stay-home order has been imposed in Yangon since September 21. It does not mean that the deadline for payment has been […]
IRD expands list of e-payment platforms for taxpayers
May 26, 2020 by
Taxpayers will now be able to pay taxes digitally without having to physically visit the local tax office, the Internal Revenue Department (IRD), which is under the Ministry of Planning, Finance, and Industry announced May 25. The e-payment services will be made available by local banks. Starting May 25, taxpayers will be able to pay […]
Govt again proposes tax amnesty on undisclosed income
August 16, 2019 by
The government is again proposing to reduce the tax rates on undisclosed incomes so that more will be willing to pay the taxes owed on those incomes. The proposal, which was part of the Union Tax Bill submission for the new 2019-20 fiscal year beginning October 1, was submitted to the Pyidaungsu Hluttaw on August […]
Income Tax Law should be amended: MP
May 7, 2018 by
The Income Tax Law should be amended as there are weaknesses compared to those in the foreign countries, said Upper House MP Myo Win. According to him, the Ministry of Planning and Finance is making necessary changes to the law. As I mentioned earlier, another point is incentives for tax payers. For instance, a taxpayer […]
The Budget: What Do Taxpayers Want?
February 6, 2017 by
\ In Nay Pyi Taw, preparations are now well advanced for finalising the budget and Union tax law which will establish the Government’s revenue-raising and spending priorities for the 2017-18 financial year. It is an annual event that always encourages advance speculation. But this year it is being more eagerly anticipated than usual because it […]
Insight into tax audit activities in Myanmar
October 1, 2015 by
AS A LONG-TIME professional in the taxation field, I often receive questions from businesses regarding tax-audit activities of the authorities and how to effectively minimise the likelihood of such audits, especially when it is time to request for tax refunds. Businesses, especially multinational companies operating in foreign jurisdictions, are generally uncertain about taking any course […]
Multimillion-dollar Chinese companies not listed as top taxpayers
December 31, 2014 by
Chinese companies that are attempting to invest Ks 7 trillion in New Yangon City were not listed on this year’s top tax-payers list. Myanmar Setana Myothit Public Co is owned by a Chinese entrepreneur and was planning to develop the Yangon Myothit Project. The project has never held an open tender, and its details have […]
Tax collectors set to scour Yangon for tax evaders
July 21, 2014 by
The Internal Revenue Department will start scrutinising tax collection in 203 wards of 20 townships in municipal Yangon from the last week of this month, it said. The move is aimed at uncovering tax evasions among businesses in industrial zones, as well as factories, warehouses, land and house rentals. “We will invite entrepreneurs in 203 […]
