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Three to seven year tax holiday period to be granted

TAX holidays will be granted for three to seven years, it has been learned. Authorities have been formulating a Myanmar Investment Law (Draft), which will grant tax exemptions to foreign direct investments excluding those made in Special Economic Zones (SEZs).

The division of zones is based upon the development status of regions and states with the exception of investments in Special Economic Zones. Zone 1 will cover underdeveloped regions and states whereas Zone 2 will cover moderately developing regions and states whereas Zone 3 covers the developed regions and states. The Myanmar Investment Commission (MIC) will release an announcement concerning these zones upon the approval of the Union government. Investments in these prescribed three zones will be granted tax exemptions, according to section 76 of the Income Tax Law (Draft).

Source: 200

To see the detailed list of the 3 Zones by States or Region please go to https://consult-myanmar.com/designation-of-development-zone-under-myanmar-investment-law-notification-no-102017/
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