Myanmar keyword: Capital Gains Tax ("CGT")

February 21, 2019

The 2018–19 financial year end is around the corner and all taxpayers have less than two months left for tax payments, tax returns, and possibly some tax planning. All taxpayers should now be in the process of planning their annual tax filings. Please be reminded that annual Corporate Income Tax (“CIT”), Commercial Tax (“CT”), and […]

August 31, 2018

The slogan of the Dutch tax authorities is “We can’t make it more fun, but we can certainly make it easier”. A fair, easy, predictable and efficient tax system is an important factor in attracting foreign investment. Highlights Speed up the signing of double taxation agreements Prioritize implementing advance tax rulings for investors so that […]

March 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 […]

March 29, 2017

1. The legal system As the legal system of Myanmar has its roots in the English common law system, laws in Myanmar are similar to English law. 2. Are there restrictions on foreign investment ownership? The Myanmar Investment Commission (MIC) from time to time issues notifications and regulation covering investment by foreign investors in various […]