You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

September 5, 2019

Bloomberg Tax Expert Analysis: Country Guide to Tax in Myanmar

Bloomberg Tax

Bloomberg Tax, a research portal featuring information on tax systems around the world, has published the Country Guide for Myanmar , authored by legal practitioners from Tilleke & Gibbins’ office in Yangon.

The guide is part of their repository of expert analyses of tax systems worldwide, which features in-depth information on the ins and outs of tax systems around the globe. This guide to taxes in Myanmar includes the following:

  • An overview of the tax system and key government agencies in Myanmar
  • Corporate tax computation and administration
  • Corporate tax rates
  • Corporate tax capital gains, losses, and group treatment
  • Corporate withholding taxes on nonresident corporations
  • Personal taxes
  • Transfer pricing policies
  • Anti-avoidance provisions
  • Payroll, capital, property, and other miscellaneous taxes
  • Special taxes for the oil, gas, and mineral extraction industry, and for the banking and finance industry

Bloomberg Tax provides intelligence across all areas of taxation, both in the US and internationally, and Tilleke & Gibbins also contributes the service’s Guide to Indirect Taxation for Myanmar .

For a PDF of the full Bloomberg Tax Country Guide for Myanmar , please follow the link below. The guide is also available on the Bloomberg Tax website (subscription required).

RELATED INSIGHTS​ 

June 22, 2020
On June 12, 2020, the Myanmar government issued a Union Taxation Law Ordinance to provide tax relief to the crisis-hit private sector as part of the wider “Overcoming as One: COVID-19 Economic Relief Plan.”The new measures will be in effect for the 2020-2021 tax year, alongside the Income Tax Law and the Union Taxation Law 2019.There are four main tax exemptions to be aware of:
June 17, 2020
The Royal Decree on Land and Building Tax Reduction B.E. 2563 was published in Thailand’s Government Gazette on June 10, 2020, and took effect the next day. The decree, intended to provide additional relief to the Thai economy as it begins to recover from the COVID-19 crisis, applies a 90% reduction to land and building tax payments for 2020 which are due to be paid by August 31, 2020 (previously extended from April 30, 2020). Owners of land or buildings are therefore only required to pay 10% of the land and building tax owed for 2020.
June 15, 2020
As the world economy struggles to cope with the impact of the COVID-19 pandemic, many companies and other creditors are exploring options to manage non-collectible debts. However, the tax costs and consequences of different approaches to settling debts are often overlooked when they should be key considerations, and unwary creditors are at risk of unexpected surprises. This article will analyze some common debt settlement options and their tax consequences.Debt Offset