Salient Tax Features of Production Sharing Contracts in Myanmar
This Analysis includes the following points: What are the key tax points of PSCs in Myanmar? Which taxes are due when acquiring or divesting an oil & gas interest? What are the tax implications of cost recovery, royalty, training fee, bonuses? How do Myanmar’s DTAs apply to gains on oil & gas interests?
Myanmar’s taxation of non-residents on the eve of its big leap in FDI
The lifting of US sanctions on general investment in Myanmar is one of the key indications that this Southeast Asian frontier market is poised for a big leap in terms of FDI. Myanmar, the second-largest Southeast Asian country after Indonesia, is rich in natural resources and has a population of around 60 million people, which is comparable to that of Thailand.
Myanmar’s newly ratified tax treaty with Thailand
The Myanmar double taxation agreement (DTA) with Thailand, one of the region’s most anticipated tax treaties, can soon be applied in practice by taxpayers in Myanmar. Myanmar and Thailand signed a DTA in 2002, which was ratified by Myanmar in August 2011. The DTA officially entered into force on 1 January 2012. Myanmar tax authorities have prepared measures to implement the treaty provisions.
Myanmar tax update part one: Myanmar's 2012 tax reform
Updates to the Myanmar tax system in regards to Personal Income Tax (PIT), Corporate Income Tax (CIT) and Commercial Tax were published in a series of 16 Notifications which all came into effect on 1 April 2012. Notifications No. 106 to No. 112 relate to Income Tax, while the remaining new Notifications No. 113 through No. 121 relate to Commercial Tax (a tax on goods and services similar to VAT).
Insights This Month – Jan 17
INSIGHTS THIS MONTH January, 2017 TAX ALERT! From our Tax Team No more withholding tax on interest paid to Myanmar branches of foreign banks From 1 April 2017, the withholding tax on interest payment to the Myanmar branches of foreign banks will no longer apply. However, foreign lessors of equipment will face a new 2.5% […]
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