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Yangon’s standard land prices reduced 10pc

Land prices on a per square foot basis in Yangon’s townships for the 2019/2020 fiscal year has been reduced by 10pc compared to the last fiscal year in order to support more sales transactions as well as encourage landowners to pay their taxes. The standard land prices were released by the Inland Revenue Department earlier […]

Industry debates tax levels after easing gold trade

Speculation has been rife over the level of duties involved in the import and export of gold since the trade was liberalised last month, allowing gold to move freely in and out of the country via air, sea and border routes. Although the authorities have yet to make any announcements, industry insiders reckon a 15 […]

Businesses Help Shape New Tax Law

The event, entitled “CFO Conference”, led to fruitful discussions and a paper based on the participants’ suggestions would be submitted to authorities concerned, according to Ye Min Aung, vice president of UMFCCI and managing director of Myanmar Agribusiness Public Corporation, who leads the organisation’s tax working group. “We decided to work closely with the government […]

To pay or not to pay? INGOs wrangle over income tax

With a new government in office and the start of a new financial year, international non-government organisations (INGOs) are holding intense discussions over whether their well-paid expat staff should pay income tax in Myanmar. Some have been paying tax for years; others claim to have deals that exempt their foreign staff; and others would not […]