Homebuyers Must be Transparent When Buying Property, Say Lawyers

Real estate lawyers have urged buyers and sell­ers to stop the practice of lowering the price of their properties on paper agreements to avoid pay­ing tax, saying it could damage the image of the industry. “Lowering prices on payment agreements to avoid tax could have far reaching consequences,” said U San Win Aung, Managing Director […]

Himalaya Airlines to fly Yangon

Himalaya airlines is adding its fleet to Yangon capital of Burma from 24 February Friday. The airlines will be operating its first flight to Mingaladon International Airport Yangon from Tribhuwan International Airport Kathmandu at 10:55 am on 24 February. According to our source, the airlines had decided to add its fleet to Yangon earlier this […]

The Budget: What Do Taxpayers Want?

\ In Nay Pyi Taw, preparations are now well advanced for finalising the budget and Union tax law which will establish the Government’s revenue-raising and spending priorities for the 2017-18 financial year. It is an annual event that always encourages advance speculation. But this year it is being more eagerly anticipated than usual because it […]

Telenor to abolish roaming taxes in Thailand, Myanmar and Malaysia

Telenor will be the first operator in Sweden to abolish roaming taxes on surfing the internet in countries outside Europe. From 26 January 2017, Swedes with Telenor’s subscription ‘Telenor Frihet’ (freedom) can start surfing the internet in Thailand, Myanmar and Malaysia with no extra charge. Since June 2016, ‘Telenor Frihet’ started including the rest of […]

MRF requested Commerce ministry not to collect two per cent of advance tax on rice ex

Myanmar Rice Federation (MRF) asked the Commerce Ministry not to collect advance taxes on rice and paddy exports, according to this Fedration. Additionally, MRF asked to reduce production costs, boost the production rate, shift the term to repay cultivation loans to the Myanma Agricultural Development Bank and cooperative associations, reduce the interest rate of loans […]

Myanmar Investment Law Seminar by Malaysian Business Council on 16 Jan 2017

This is a must attend seminar conducted by Miss Jean Loi (Managing Partner of VDB-Loi) on Investment Law, Immigration & Labour Issues and Tax. Cost is USD 10 for non-members. DO YOU WANT TO BE INFORMED OF NETWORKING SESSION HERE IN YANGON?If you are a foreign investor and want to be updated on the networking […]

Tax levied on real estate dealing in Bago Region earned over US$410million

The tax levied on real estate transactions in Bago Region in the six months of this fiscal year has reached over US$410million, it is learnt from the Bago Region Internal Revenue Department. The tax has to be paid per the prescribed tax rate at the tax office in the regional government concerned when real property […]

Myanmar garment manufacturers request tax exemption in FOB system

Myanmar garment entrepreneurs have requested the Ministry of Commerce and the Ministry of Planning and Finance to grant a tax exemption in the Free-on-Board (FOB) system to maintain Myanmar’s garment industry for the long term, it is learnt from the Myanmar Garment Entrepreneurs Association. Myanmar garment factories are currently operating under Cut,Make and Pack (CMP) […]

Yangon chief minister to strengthen tax system

The Yangon Region chief minister has outlined plans to strengthen the city’s taxation system by examining weaknesses in local business audits. During a meeting with industrial zone officials on April 25, U Pyo Myo Thein said that businesspeople never show their audits to tax officials. “We need to make sure their audits are reliable,” he […]

Mandalay realtors gloomy over new Union tax rates

  Real estate agents in Mandalay say business is likely to be hurt by new higher tax rates that will take effect from April 1. All transactions will be taxed at least 15 percent in the coming fiscal year, up from this year’s base rate of 3pc. Sales worth up to K30 million will be […]