myanmar - Tax & Revenue - News

Yangon to tax Hostels in biggest Migrant Worker City

The Yangon City Development Corporation (YCDC) will tax hostels in Hlaing Tharyar township, which has the most domestic migrant workers in the city, said U Soe Thein Aung, YCDC chair of the township.
Date: 21 June 2019; Type: Legal News; Source: Myanmar Times

Myanmar signs on as Observer for BRI Tax Cooperation Pact

Myanmar will sign as an observer an agreement on the establishment of the Belt and Road Initiative Tax Administration Cooperation Mechanism (BRITACOM), said Deputy Minister of Planning and Finance U Maung Maung Win.
Date: 31 May 2019; Type: Legal News; Source: Myanmar Times

IRD to introduce Income Tax Bill to Parliament

The Internal Revenue Department (IRD) drafted a new income tax law with the help of International Monetary Fund (IMF) expert, U Min Htut, director general of Internal Revenue Department (IRD), told The Myanmar Times.
Date: 30 May 2019; Type: Legal News; Source: Myanmar Times

Advanced Income Tax on Imports, Exports reinstated after One Year

Companies involved in imports and exports will be required to pay an advanced income tax (AIT) of 2 percent from May 1, according to Notification 38/2019 issued by the Ministry of Planning and Finance on April 8. This voids a previous notification issued on January 22, 2018 exempting companies under the self-assessment system (SAS) from the 2p ...
Date: 22 May 2019; Type: Legal News; Source: Myanmar Times

Tax on Mobile Phones kicks in June 1

Starting June 1, a five percent commercial tax on mobile phones and accessories shall be collected from buyers at the time of purchase and the relevant tax stamps affixed to the receipts in accordance with the Commercial Tax Law, the Internal Revenue Department (IRD) announced earlier this month.
Date: 21 May 2019; Type: Legal News; Source: Myanmar Times

Commercial Tax on Mobile Handsets to be levied

Consumers will have to pay a 5 percent commercial tax when buying mobile handsets and related accessories from June 1 onwards, the Internal Revenue Department (IRD) announced on April 1.
Date: 02 April 2019; Type: Legal News; Source: Myanmar Times

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

INDUSTRY UPDATES

Championing Rule of Law, Speedy Justice under Guevarra's Helm

MANILA, Jul 21 (PNA) - It has been a little over a year this month when the team led by Secretary Menardo I. Guevarra took over the helm of the Department of Justice (DoJ) and has since proven to be a dynamic organization dedicated to President Rodrigo Duterte's commitment towards transparency in governance and the elimination of corruption in all levels of the bureaucracy.

Read More

INDUSTRY UPDATES

NegOcc MSMEs upbeat on PH Innovation Act

BACOLOD CITY, Jul 20 (PNA) - The signing of the Philippine Innovation Act has made Micro, Small and Medium Enterprises (MSMEs) in Negros Occidental optimistic about the growth and development of local entrepreneurs.

Read More

INDUSTRY UPDATES

Tax Academy offers Online Courses for BIR, BOC Employees

MANILA, Jul 18 (PNA) - The Philippine Tax Academy (PTA) has completed the development of 14 competency-based mandatory online studies required for new hires at the Bureau of Customs (BOC) as well as refresher courses for existing BOC employees, the Department of Finance (DOF) announced in a statement on Thursday.

Read More

INDUSTRY UPDATES

PRRD to only face PH Court

MANILA, Jul 17 (PNA) - President Rodrigo Duterte has no intention to face the international tribunal stressing that he would only answer to the Philippine courts.

Read More

INDUSTRY UPDATES

Court cautions Najib against posting Statements on his Trial

KUALA LUMPUR, Jul 18 (Bernama) - The High Court here today cautioned Datuk Seri Najib Tun Razak against posting any more statements in social media pertaining to his SRC trial or risk being cited for contempt of court.

Read More

INDUSTRY UPDATES

Bank Muamalat: 'Court did not find us Guilty of Union-Busting'

KUALA LUMPUR, Jul 18 (Bernama) - Bank Muamalat Malaysia Bhd today said it was never found guilty of union-busting or had breached any law.

Read More

INDUSTRY UPDATES

Labour Ministry opens Automation Center

BANGKOK, Jul 17 (NNT) - On efforts to push the Thai industrial sector into the 4.0 era, human resources must be capable of operating technology and automated systems, especially in the Eastern Economic Corridor (EEC) development project. To achieve this goal, the Ministry of Labour has established a human resources development center on automation and robots at the Institute for Skills Development 3, located in Chonburi.

Read More

INDUSTRY UPDATES

Guidebook on Parliamentary Constituencies launched

KUALA LUMPUR, Jul 17 (Bernama) - Dewan Rakyat Speaker Datuk Mohamad Ariff Md Yusof today launched Wakil Kita di Parlimen, a 228-page guidebook containing relevant information on all the 222 parliamentary constituencies.

Read More

INDUSTRY UPDATES

Students among Plaintiffs in Lawsuit over Sungai Kim Kim Pollution

JOHOR BAHRU, Jul 17 (Bernama) - Thirty-four students are among 171 individuals who are suing the Johor state government, Menteri Besar Datuk Osman Sapian and 10 others over the pollution in Sungai Kim Kim near Pasir Gudang last March.

Read More

INDUSTRY UPDATES

Mandalay Region Hluttaw approves New High Court Judge

Mandalay Region Hluttaw was unanimously appointed a new regional high court judge on the second day of the second session of the hluttaw after being nominated by the regional chief minister.

Read More

INDUSTRY UPDATES

DOJ forms Special Team to probe Kidapawan Broadcaster's Slay

MANILA, Jul 12 (PNA) - Department of Justice (DOJ) Secretary Menardo Guevarra on Friday said he has ordered a special investigation team to look into the killing last Wednesday of radio commentator Eduardo Dizon who was gunned down on the way home in Kidapawan City, Cotabato.

Read More

INDUSTRY UPDATES

New BSP Deputy Governor sworn in

MANILA, Jul 12 (PNA) - Francisco G. Dakila Jr. received his oath of office as Deputy Governor for Monetary and Economics Sector (MES) in ceremonies administered by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday.

Read More

INDUSTRY UPDATES

Chief Justice heads Penang Honours List

GEORGE TOWN, Jul 12 (Bernama) - Chief Justice Datuk Tengku Maimun Tuan Mat heads the list of 877 recipients of state honours and honorary medals in conjunction with the 81st birthday of the Yang Dipertua Negeri of Penang Tun Abdul Rahman Abbas.

Read More

INDUSTRY UPDATES

Prosecution failed to serve Summons on Shahrizat's Children, Court sets new Mention Date

KUALA LUMPUR, Jul 12 (Bernama) - The Sessions Court here today set Aug 5 for mention of a lawsuit filed by the Companies Commission of Malaysia (CCM) against two children of former Women, Family and Community Development Minister Tan Sri Shahrizat Abdul Jalil in connection with several offences allegedly committed by their company.

Read More

INDUSTRY UPDATES

Free Legal Service to be provided for the Poor

Legal aid groups will provide free legal services to poor people and those in need of legal assistance across the country in an effort to support the rule of law and restore public trust in the judiciary.

Read More

INDUSTRY UPDATES

Bill to increase Sabah State Seats to be tabled on July 17

KOTA KINABALU, Jul 11 (Bernama) - Sabah Chief Minister Datuk Seri Mohd Shafie Apdal is confident the Bill for the additional 13 seats, to increase the number of state seats from 60 to 73, will be approved when it is tabled in Parliament on July 17.

Read More

INDUSTRY UPDATES

SolGen asks SC to dismiss Writ of Kalikasan Suit on WPS

MANILA, Jul 9 (PNA) - Solicitor General Jose Calida on Tuesday asked the Supreme Court (SC) to dismiss the petition filed against government agencies, which seeks unspecified action on the disputed areas in the West Philippine Sea.

Read More

INDUSTRY UPDATES

IRB records 486,360 Cases of Voluntary Tax Declaration

KUALA LUMPUR, Jul 8 (Bernama) - The Inland Revenue Board of Malaysia (IRB) has recorded 486,360 cases of voluntary tax declaration under the special voluntary declaration programme (PKPS) as of June 23.

Read More