The Union Tax Law for fiscal 2020-21 will include provisions supportive of small and medium-size enterprises (SMEs) in Myanmar, including incentives aimed at reducing tax burdens as well as simplifying compliance procedures, Deputy Minister for Planning, Finance and Industry U Maung Maung Win said upon submission of the bill at the Pyidaungsu Hluttaw (Assembly of […]
Parliament approves tax law with rates starting at 3pc
September 26, 2019 by
Parliament on Thursday approved the 2019 Union Tax Law, under which the tax rate for unassessed income is now as low as 3 percent. The motion was approved after the majority of MPs voted in favour of the new tax rates, which will take effect in the new fiscal year beginning October 1. Out of […]
UMFCCI members push for lower tax rates
January 15, 2018 by
BUSINESSES at the Union of Myanmar Federation of Chambers of Commerce and Industry have urged Nay Pyi Taw to lower the tax rate, while the Internal Revenue Department said the tax rate has been lowered on an annual basis. Businesses collectively asked the tax rate to be reduced during the Chief Financial Officer conference (CFO […]
Public feedback on tax law welcomed
June 16, 2014 by
The publics’ suggestions and complaints about the 2014 Union Tax Law are being collected by the Ministry of Finance in a bid to strengthen further taxation legislation, said U Tin Tun Naing, director of the ministry’s Internal Revenue Department. The law was promulgated in March with the aim of increasing government tax revenues. Officials had […]
;
To see more of our client click