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Tax amnesty on unassessed income to be repealed

A de-facto tax amnesty on unassessed income will likely be repealed.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.

Myanmar slices taxes on undeclared income in de facto amnesty law

Myanmar’s Union Parliament has approved the 2019 Tax Law, cutting taxes for unassessed income to rates as low as three percent. The new law serves as a de facto amnesty for individuals and businesses with high levels of undeclared income. Under

Terminals, ports, logistics, liner operations disrupted
February 26, 2021
German containerline Hapag Lloyd has announced a decision to temporarily suspend cargo bookings into Myanmar …
Facebook, Instagram ban military and related pages with immediate effect
February 26, 2021
In a February 24th update to its February 11th statement, Facebook through its Director of …
Luxury Japanese real-estate complex called out for funding military
February 26, 2021
Despite distancing itself from other major Western states imposing sanctions on military-linked individuals and entities, …