myanmar - Tax & Revenue

Parliament to pass Tax Bill to curb Corruption

Parliament is set to pass a tax management bill that is expected to curb corruption and increase revenue, a senior member of a Pyidaungsu Hluttaw (bicameral parliament) committee said on Monday.
Date: 13 November 2018; Type: Legal News; Source: Myanmar Times

More Taxes to be levied on Alcohol, Cigarettes

The government has submitted its Union Taxation Bill for the 2018-2019 fiscal year, which includes higher tax rates on alcohol and cigarettes, to the Pyidaungsu Hluttaw.
Date: 28 August 2018; Type: Legal News; Source: Myanmar Times

IRD to launch Integrated Tax Administration System

The Internal Revenue Department (IRD) under Ministry of Planning and Finance is aiming to launch an Integrated Tax Administration System (ITAS) by next year, U Min Htut, Director General of the IRD, told The Myanmar Times.
Date: 23 August 2018; Type: Legal News; Source: Myanmar Times

Parliament mulls Maintaining Tax Rates to Offset Forex Pressure

The Pyidaungsu Hluttaw public accounts joint committee has suggested experimenting with different strategies to raise tax revenues without changing current rates.
Date: 20 August 2018; Type: Legal News; Source: Myanmar Times

IRD to build ICT System enabling Tax Payments

Taxpayers may soon be able to pay their dues to the government via mobile banking, said U Min Htut, director general of the Internal Revenue Department (IRD).
Date: 14 August 2018; Type: Industry Updates; Source: Myanmar Times

Withholding Tax Exemption necessary, but raises Concerns

Since taking office as new Minister of Planning and Finance in May, U Soe Win has pushed through a long-awaited reduction in withholding taxes for local businessmen and foreigners living in Myanmar.
Date: 11 July 2018; Type: Industry Updates; Source: Myanmar Times

Government under rising pressure to correctly tax Ride-Hailing Companies

Since June 13, ride hailing companies operating in Yangon have been obliged to pay income and commercial tax to the Yangon government under the law, U Myint Thaung, regional minister of Planning and Finance said in parliament.
Date: 20 June 2018; Type: Industry Updates; Source: Myanmar Times

Government removes 2 per cent 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.
Date: 20 June 2018; Type: Legal News; Source: Myanmar Times

Mandalay to rethink Wheel Tax Collection

Mandalay, June 4 (MMT) - The Mandalay City Development Committee (MCDC) has announced it will rework the collection of tolls and the wheel tax on vehicles without opening a new tender for the last six months of the 2018-2019 fiscal year.
Date: 04 June 2018; Type: Industry Updates; Source: Myanmar Times

Property weak on Canned Tax Amnesty Bill

With interest in investment properties in Mandalay expected to be lackluster in the coming months, property agents reckon demand will likely centre on homes priced below K1,000 lakh.
Date: 25 April 2018; Type: Legal News; Source: Myanmar Times

Government to collect Tax to fund Telecoms in Rural Areas

Funds will be collected from a tax on telecoms operators starting in June to extend the telecommunications network to remote areas of the country that do not yet have access, said an official of the Ministry of Transport and Communications.
Date: 24 April 2018; Type: Industry Updates; Source: Myanmar Times

IRD will reward those who lodge Complaints on Businesses that fail to pay Tax

The government is raising its efforts to collect taxes from commercial enterprises. Last week, the Internal Revenue Department said it will reward those who provide information on establishments that fail to collect commercial taxes, according to state media.
Date: 11 April 2018; Type: Industry Updates; Source: Myanmar Times

Tax Amnesty Law under Review, will be “Fair,” Minister says

The authorities will closely supervise the drafting of the tax amnesty law, ensuring that it is fair and discourages tax avoidance and money laundering, Union Minister of Planning and Finance U Kyaw Win said Monday during a meeting with the Vice President at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) office.  ...
Date: 04 April 2018; Type: Tax News; Source: Myanmar Times

Yangon Tax Rates and Fines under Scrutiny

According to the 2018 Yangon taxation law, the Yangon City Development Committee (YCDC) will cease its collection of taxes or fines for illegal use of public space starting from this fiscal year, U Myint Thaung, Regional Minister of Planning and Finance said at the Yangon Parliament last week.
Date: 03 April 2018; Type: Tax News; Source: Myanmar Times

Yangon Starts New Wheel Tax Collection System, but More Reviews needed

MPs who discussed new tax regulations under the Yangon taxation law during a regional parliament session yesterday agreed that more should be done to improve the system.
Date: 30 March 2018; Type: Industry Updates; Source: Myanmar Times

Price of Higher-End Vehicles fall after Tax Reduction

Some high-end cars are looking a little cheaper following a reduction in taxes on special goods under the new 2018 Union Tax Law, which was signed into legislation on March 20.
Date: 27 March 2018; Type: Industry Updates; Source: Myanmar Times

Union Tax Law to be approved in Parliament

Parliament is set to approve the 2018 Union Tax Law today. The bill will include regulations on tax amnesty provisions under which tax payers who have failed to pay tax in the past will be given the opportunity to pay up under lower rates, said Pyidaungsu Hluttaw Speaker Mahn Win Khaing Than.
Date: 20 March 2018; Type: Tax News; Source: Myanmar Times

Parliament suggests Tax Rates for Non-Assessed Income

Parliament has suggested imposing taxes on three categories of income not included in the 2018 Union Tax Bill submitted by the government.
Date: 01 March 2018; Type: Tax News; Source: Myanmar Times

Industry debates Tax Levels after easing Gold Trade

Speculation has been rife over the level of duties involved in the import and export of gold since the trade was liberalised last month, allowing gold to move freely in and out of the country via air, sea and border routes.
Date: 22 February 2018; Type: Tax News; Source: Myanmar Times

Income Taxes not covered will be collected according to Specified Rates

The Ministry of Planning and Finance (MOFP) submitted a proposal that will enable income not declared in the past to be taxable at the appropriate rate under the 2018 Union Tax Law. The proposal was submitted to Parliament on Tuesday.
Date: 14 February 2018; Type: Tax News; Source: Myanmar Times

INDUSTRY UPDATES

Justice Ministry: US Claims ‘baseless’

The Ministry of Justice on Tuesday reacted to recent “baseless” claims by the US Embassy in Phnom Penh regarding the case of former opposition leader Kem Sokha, urging the embassy to stop spreading misinformation regarding the implementation of the law in Cambodia.

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Court adjourns Tony Pua's Appeal against Interim Injunction over RUU355 Video Clip

PUTRAJAYA, Feb 20 (Bernama) - The Federal Court today adjourned the appeal hearing by Damansara Member of Parliament Tony Pua Kiam Wee against an interim injunction order over his alleged video clip relating to the tabling of Syariah Courts (Criminal Jurisdiction) (Amendment) Bill 2016 or RUU355.

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DOJ urged to Act on Murder Raps vs PNP Men in Lawyer's Death

MANILA, Feb 19 (PNA) - A former Cebu City councilor asked the Department of Justice (DOJ) Monday to charge policemen implicated in the killing of his brother, lawyer Noel Archival, five years ago.

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Laos, Japan celebrate 20 Years of Legal, Judicial Cooperation

The Lao and Japanese governments have highlighted 20 years of achievement in cooperation to strengthen the legal and judicial sectors in Laos, especially with regard to human resource development.

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Sarawak Lawyers wants Government to set up RCI over Judge Allegations

MIRI, Feb 19 (Bernama) - The Advocates Association of Sarawak (AAS) has proposed to the government to set up a Royal Commission of Inquiry (RCI) over the allegation of judicial interference in the affidavit made by a sitting Court of Appeal judge Datuk Dr Hamid Sultan Abu Backer recently.

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INDUSTRY UPDATES

MACC meets Judge Hamid Sultan over 63-Page Affidavit

PUTRAJAYA, Feb 18 (Bernama) - The Malaysian Anti-Corruption Commission (MACC) today met with Court of Appeal judge Datuk Dr Hamid Sultan Abu Baker over his recent 63-page affidavit, filed last week, on allegations of judicial interference.

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INDUSTRY UPDATES

CBM headed in Right Direction, Bank Development expected: Experts

The Central Bank of Myanmar (CBM) has begun taking the initial steps to stand as an independent body, local financial experts and economists say.

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INDUSTRY UPDATES

Retired SC Justice Azcuna 'Selfless Government Worker': Palace

MANILA, Feb 15 (PNA) - Malacañang wished retired Supreme Court (SC) Associate Justice Adolfo Azcuna the best as he celebrates his 80th birthday on Saturday.

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Rule of Law followed in Ressa Arrest

MANILA, Feb 15 (PNA) - Malacañang on Friday said the rule of law was followed in the arrest of Rappler chief executive officer Maria Ressa for cyberlibel amid criticisms of suppressing press freedom.

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Rebuilding ASEAN’s Financial Safety Net

Singapore and Indonesia signed a US$10 billion (K15.23 trillion) bilateral swap agreement last October, allowing the two countries to assist each other during times of financial stress through US dollar loans. The move signalled a willingness by ASEAN countries to play a bigger and more direct role in strengthening the region’s financial stability, but there is still much more to do.

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Judiciary lodges Police Report over Allegations in Affidavit

PUTRAJAYA, Feb 15 (Bernama) - The Judiciary has lodged a police report over allegations made against unnamed judges and the institution in the affidavit made by a sitting Court of Appeal judge Datuk Dr Hamid Sultan Abu Backer.

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INDUSTRY UPDATES

Blind Woman's Persistence to become Lawyer bears Fruit

KUALA LUMPUR, Feb 15 (Bernama) - ‘Where there’s a will, there’s a way’, this proverb illustrates the determination and diligence of a visually impaired young woman who has achieved her dream of becoming a lawyer.

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Lawyer urges Government and CJ to address Justice Hamid's Revelations

KUALA LUMPUR, Feb 15 (Bernama) - Lawyer Sangeet Kaur Deo has called on the government and Chief Justice to immediately look into the claims by Court of Appeal judge Datuk Dr Hamid Sultan Abu Backer, contained in his affidavit which revealed misconduct of top judges and judicial interference.

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Decision on Minimum Wage Increases due in March

BANGKOK, Feb 13 (NNT) - The final decision on Minimum Wage increases will be made in March, with new rates to vary in accordance with economic conditions in each province.

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INDUSTRY UPDATES

No Violation of Ressa's Civil Rights: DOJ

MANILA, Feb 14 (PNA) - Justice Secretary Menardo Guevarra on Thursday assured full protection of the civil rights of online news website Rappler's publisher Maria Ressa, who was arrested on Wednesday in connection with a cyber libel complaint filed against her and the media firm by a private individual.

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INDUSTRY UPDATES

DOTr inks Deal on Common Station Construction

MANILA, Feb 13 (PNA) - The Department of Transportation (DOTr) on Wednesday signed a contract with a private consortium for the construction of Area A of the Unified Grand Central Station (UGCS) or the common station which is located between SM North Edsa and Trinoma in Quezon City.

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INDUSTRY UPDATES

Men too face Sexual Harassment at Workplace

SUNGAI PETANI, Feb 14 (Bernama) - Men too have been recorded as being victims of sexual harassment at the workplace, said Women, Family and Community Development Deputy Minister, Hannah Yeoh.

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INDUSTRY UPDATES

LHDN launches eProcurement System, Suppliers' Portal

CYBERJAYA, Feb 13 (Bernama) - The Inland Revenue Board (LHDN) has launched the eProcurement (eP) system and the Suppliers’ portal as a continuous effort to improve service delivery to suppliers or tenderers dealing with the agency.

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