Myanmar Corporate Tax

 

With-Holding Tax wef  1 April 2017

 

 

Resident

 

Non-Resident

Dividend 0 0
Interest 0 15%
Royalties 10% 15%
Capital Gain* 10% 10%
Others# 2% 2.5%

* 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 Tax

Company that is resident in Myanmar is taxed at 25%. Non-resident company such as a Branch Offices are also taxed at 25%.

Commercial Tax

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
1 -30,000,000 15%
30,000,001 – 100,000,000 20%
100,000,001 and above 30%

 

For more information – please contact us for a consultation