Tax
From The Report: Myanmar 2015
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This chapter offers an overview of Myanmar’s tax system, examining how new laws and amendments are affecting the country’s business environment. It also features a tax viewpoint from U Win Thin, Chairman, Win Consulting.

Articles from this Chapter

Overview

Amending the code: New tax laws and amendments make doing business clearer
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Myanmar’s tax reform process gained unprecedented momentum in March 2012, following changes to two important tax laws, the Income Tax Law (ITL) and the Commercial Tax (CT) Law (CTL). The changes came into effect on April 1, 2012, and the reforms resulted in an overall reduction of tax rates. For example, the corporate tax rate was reduced from 30% to 25%, and CT rates on goods and services, which previously varied from 5% to 30%, were dropped to a flat 5%. CT rates on special goods went from 30-200%…

Viewpoint

In with the new: U Win Thin, Chairman, Win Consulting, on the launch of a new tax system
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In the democratic transformation process of the Republic of the Union of Myanmar, tax revenues play a vital role in the state budget. The Internal Revenue Department (IRD) under the Ministry of Finance is trying its best to earn optimum revenue from two main sources: a direct tax, in the form of income tax; and an indirect tax, through commercial taxes on the growing national tax base, and from reducing the respective affordable tax rates. Both sources are administered by the same department, so…