At a glance: Taxes in Myanmar

Attracting investments into its recently opened-up economy is a clear priority of Myanmar’s tax regime, with a slew of tax incentives for foreign investors. But that is tempered by a need to collect more tax revenues – less for the government to spend on developing public infrastructure creates roadblocks to Myanmar’s economic development too. Despite […]

Government removes 2pc of withholding tax on domestic payments

The Ministry of Planning and Finance yesterday released its latest notification (47/2018) on withholding tax, which replaces notification (51/2017) released May 22, 2017. Effective July 1, an existing 2 percent withholding tax will removed on residents for payments involving cooperative business with the government, partnerships, joint ventures, companies, registered associations or organisations,cooperative societies, foreign companies, […]