Government offers amnesty for smuggled liquor
Months after the government allowed the import of foreign liquor, it has announced a de facto amnesty for stockpiles of liquor already imported. The Internal Revenue Department is allowing retailers to legitimize their liquor stores by paying a tax oMyanmar’s biggest taxpayers revealed
Myanmar’s government honored the country’s top taxpayers for the 2018-2019 tax year in Nay Pyi Taw earlier this week. The ceremony was held at the Presidential Palace and the president himself, U Win Myint, attended the ceremony as report
Tax amnesty on unassessed income to be repealed
A de-facto tax amnesty on unassessed income will likely be repealed. U Maung Maung Win, deputy minister of the Ministry of Planning, Finance, and Industry, told parliament that a 30% tax on unassessed assets will be imposed in the coming fiscal year.
Businesses will enjoy tax breaks, soft loans during pandemic
The Ministry of Planning, Finance, and Industry (MOPFI) will give tax breaks and financial assistance to businesses in industries hit by the global COVID-19 pandemic. These include suspending the 2 percent Advance Income Tax (AIT) on exported goods a
World Bank report praises Myanmar progress
The World Bank’s Doing Business 2020 report ranked Myanmar among the top 20 most-improved business environments. The report evaluates countries based on how easy it is to do business in them. It looks at factors such as access to credit, taxation,
