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Higher revenue collection reported by the IRD

The Inland Revenue Department (IRD) has collected K4.9 trillion in revenue across five categories of taxes from October 2018 to June 2019. According to the IRD, the amount collected was more than the amount collected in the corresponding period of last year. Four-fifths of the amount collected this year came from income tax, commercial tax, […]

Advanced income tax on imports, exports reinstated after one year

Companies involved in imports and exports will be required to pay an advanced income tax (AIT) of 2 percent from May 1, according to Notification 38/2019 issued by the Ministry of Planning and Finance on April 8. This voids a previous notification issued on January 22, 2018 exempting companies under the self-assessment system (SAS) from […]

IRD to build ICT system enabling tax payments

Taxpayers may soon be able to pay their dues to the government via mobile banking, said U Min Htut, director general of the Internal Revenue Department (IRD). The IRD is now inviting qualified service providers including the banks and mobile money service operators to submit Expressions of Interest (EOI) to develop an information and communications […]

E-commerce sector under govt scrutiny for tax purposes

Government departments are rushing to manage and regulate e-commerce for tax purposes, according to the Ministry of Commerce (MOC) and Internal Revenue Department (IRD). Currently, e-commerce businesses mostly use Facebook to promote or trade products. Meanwhile, other online platforms created specifically for online shopping are growing quickly in the local market, according to the Myanmar […]

Myanmar Tax Office: EOI for Individual Consultant-Translator cum, Interpreter for Medium Taxpayer Office, Internal Revenue Department (IRD), Yangon, Closing Date: 30 April 2018.

REOI No: MPFMp/A-C324 Closing Date: 30 April 2018 The project is seeking to recruit a national Translator cum Interpreter to support its work in the area of modernization of its tax functions. The translation services is to assist the IRD in translating documents from English to Myanmar and from Myanmar to English documents, and interpretation […]

IRD will reward those who lodge complaints on businesses that fail to pay tax

The government is raising its efforts to collect taxes from commercial enterprises. Last week, the Internal Revenue Department said it will reward those who provide information on establishments that fail to collect commercial taxes, according to state media. Under the law, consumers who buy goods and services in Myanmar are liable to pay commercial taxes. […]

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 […]

Yangon to tighten enforcement on tax stickers

The government will take action against those popular restaurants which do not affix commercial tax stamps properly,Yangon Region Minister for Planning and Finance U Myint Thaung said on February 20 at the regional legislature. Some retail stores, department stores and restaurants charge a 5 percent consumer tax fom customers. But nobody knows whether the 5 […]

Govt to remove withholding taxes from April 1 to support businesses

The Inland Revenue Department (IRD) is planning to stop levying withholding tax starting April 1 onwards in a bid to boost the economy, it revealed during a weekend discussion. The discussions, which took place with the Yangon Regional Government, Union of Myanmar Federation of Chambers of Commerce and Industry and other business associations, were held […]