Tax
From The Report: Myanmar 2018
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This chapter gives an overview of Myanmar’s tax regime, focusing on key developments including the New Company Law and the extension of the self-assessment system implementation. Draft Revenue Appellate Tribunal law changes are also examined in this chapter. It also contains a tax viewpoint from U Win Thin, Chairman, Win Consulting.

Articles from this Chapter

Overview

Staying the course: Tax reform momentum is maintained through coordinated legal changes
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Myanmar’s tax regime has undergone significant changes since the 2012 Reform Action Plan of the previous government. The plan includes broadening the tax base while lowering rates, placing reliance on indirect taxes, introducing self-assessment in direct taxation and rationalising the tax incentive system for investment. New Features To this end, on March 15, 2012, the government issued 22 notifications, serially numbered 102/2012 to 123/2012 to bring changes to the Income Tax Law (ITL),…

Analysis

Building trust: A newly drafted proposal for an independent legal body promises to earn taxpayers’ trust through equity and justice
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The draft of the Revenue Appellate Tribunal Law is due to be presented to Parliament for approval in 2018. The law aims to establish an independent legal body in order to comprehensively hear and decide on matters arising from any taxation by government organisations, to foster competent administration machinery for statutory taxation, and to earn taxpayers’ trust by ensuring equity and justice in fulfilling tax obligations. Ostensibly, the board would be empowered to take cognisance of…

Viewpoint

Under reform: U Win Thin, Chairman, Win Consulting, on clarifying tax laws
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Viewpoint:U Win Thin, Chairman, Win Consulting Myanmar’s Internal Revenue Department (IRD) is undergoing tax reforms by gradually introducing an income tax self-assessment system and broadening the tax base to get revenue to lower rates, particularly indirect taxes, much like in neighbouring India and Malaysia. When commercial tax (CT) was introduced in 1990 it had a mix of features from the goods and services tax (GST) – taxes collected by the seller from end users – and taxes on producers…