Real estate income tax to rise five-fold from April 1

Imposition of income taxes on real estate is set to rise five-fold starting from April 2016, according to the Tachileik Internal Revenue Department. “The Imposition of land tax on real estate and buildings is going to increase about five times over. It has already been discussed in parliament. As such, whether it’s the buying or […]

Insight into tax audit activities in Myanmar

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 […]

Over 10,000 Companies Called Out for Evading Tax Collectors

YANGON — Over 10,000 local companies have been called out for failing to pay taxes to the Myanmar government during the 2012-13 fiscal year. The Internal Revenue Department (IRD) on Thursday released a notice on its website listing 10,670 companies that are required to contact the department by March 20 because they did not pay […]