Tax
From The Report: Myanmar 2017
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This chapter examines Myanmar’s tax regime, focusing on the newly passed Special Goods Tax Law, rules and penalties for concealment of income, regulations for industrial and special zones, the Myanmar Investment Law set to reshape the market and a summary of accounting standards and practices. It also contains a viewpoint from U Win Thin, Chairman, Win Consulting.

Articles from this Chapter

Overview

Reforms and regulations: A comprehensive guide to taxation
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Regime Change Progressing Changes in Myanmar’s tax regime continued to make progress in FY 2015/16 and 2016/17. Of all these changes, the new Special Goods Tax Law (SGTL), which was promulgated on January 18, 2016, is the most remarkable. Now the SGTL will regulate taxation on 16 items termed “special goods” previously placed under the jurisdiction of the Commercial Tax Law (CTL), and thus eliminate the complexities that arose due to inclusion of these goods in the SGTL. Other recent significant…

Viewpoint

A beneficial new system: U Win Thin, Chairman, Win Consulting, on the opening of tax offices and the development of small business financials
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Viewpoint:U Win Thin Myanmar’s Internal Revenue Department (IRD) has begun the journey towards a self-assessment tax system. First opened was a Large Taxpayers’ Office and later, to accommodate smaller taxpayers, Medium Taxpayers’ Offices (MTOs) 1, 2 and 3, and a Small Taxpayers’ Office were also opened to cope with the growing need of this group. These tax offices will furnish income return forms for taxpayers with questionnaires regarding how their incomes are computed, and notes…