VDB Loi working with Myanmar tax authorities to improve tax on foreign investmentDecember 20, 2012
VDB Loi is pleased to announce that we are currently running training and joint working sessions with the Union of Myanmar’s Internal Revenue Department (IRD) and the Companies Circle Tax Office (CCTO) both in Yangon and Nay Pyi Taw. Through informative sessions that span several months, VDB Loi Yangon’s tax experts, including Edwin Vanderbruggen and Cynthia Herman, exchange knowledge and experience on the taxation of foreign investors with the authorities.
The working sessions focus on Myanmar taxation in cross-border situations, tax compliance and international tax rules. The program incorporates detailed sessions on taxation of the “hot” investment areas of oil and gas projects, mining, distribution, energy, telecommunication, manufacturing and construction.
The Myanmar IRD administers most taxes including Income Tax (capital gains tax and withholding taxes), Commercial Tax, and Stamp Duty, and collected nearly 1,539 Billion Kyats in tax year 2011-2012. CCTO monitors approximately 13,500 corporate taxpayers including nearly 1,000 foreign owned companies, branches and joint ventures.
VDB Loi is a specialized legal and tax services firm with more than 50 outstanding local and international lawyers and tax advisers. We provide the highest quality integrated solutions for structuring investment and business transactions in Cambodia, Indonesia, Laos, Myanmar and Vietnam from our offices on the ground and our liaison office in Singapore. For more information on VDB Loi’s Yangon or Nay Pyi Taw offices, download following.