With-Holding Tax wef 1 April 2017
* include sales of land, building, share and bonds
# payment to 3rd parties for procurement of goods and services
Resident is defined as a company that is incorporated under the Myanmar Companies Act or a foreigner that has done business in Myanmar for ≥183 days in a year.
Company that is resident in Myanmar is taxed at 25%. Non-resident company such as a Branch Offices are also taxed at 25%.
This is a sales turnover tax that has different tax rate depending on the category. For most goods & services it is taxed at 5%. For alcoholic beverages, cigarettes and luxury items the rate can be up to 100%.
Personal Income Tax
Salary income for resident is taxed from 1% to 25% on a progressive scale. Go to https://consult-myanmar.com/myanmar-personal-income-tax/ for more info
Black Money (Unreported Income)
“Black” money i.e. income that was previously unreported and unaccounted for or has never been declared by a Myanmar citizen or resident as an income before can be taxed up to 30% if you try to bring it back into the banking system and make it “white”.
|Black Money (Kyat)||Tax Rate|
|30,000,001 – 100,000,000||20%|
|100,000,001 and above||30%|
For more information – please contact us for a consultation