Tax notes: Myanmar Union Tax Law 2018 updatesMarch 30, 2018
The Union Parliament (the Pyidaungsu Hluttaw) enacted the Union Tax Law 2018 (“UTL 2018”) on 30 March 2018, which went into effect on 1 April 2018. Below we provide a synopsis of the points most pertinent for taxpayers this year.
The biggest change from the draft UTL 2018 is that the tax amnesty on undisclosed sources of income that had been proposed was removed.
Highlights of this note
- No change in financial year
- Capital Gains Tax for the oil and gas sector
- Specific Goods Tax
- Changes to the Commercial Tax exemption list
- Listed companies
- Domestic Payments to Be Made in Myanmar Kyat
- June 7, 2022
- How to Apply for a Certificate of Residence from the Internal Revenue Department of Myanmar?
- April 29, 2022
- Importers/Exporters can request approval to buy USD through the Ministry of Commerce
- April 20, 2022
- Have You Calculated the Personal Income Tax Reliefs and Allowances Correctly for the 2021-2022 Six-month Interim Budget Year?
- March 31, 2022
- Trade Department Adds to the List of Goods Requiring an Import /Export License
- March 30, 2022