YANGON, May 8 (Xinhua): Myanmar's new income tax and commercial tax law has come into force in the fiscal year (FY) of 2014-15, state media reported Thursday.
Under the new law, people who earn from 2.0 million to 5.0 million Kyats (US$2,083 to $5,208) a year will have to pay 5.0 per cent income tax, while those from 5.0 million to 10 million Kyats to pay 10 per cent and those for 10 million to 20 million Kyats to pay 20 per cent and those for 30 million Kyats and above to pay 25 per cent, the Internal Revenue Department was quoted as saying.
In the new law, tax reductions are offered for married couples and those who have children.
Commercial tax is collected starting from 15 million Kyats and tax exemption is offered for 60 items of goods, the department said.
New tax rate in Myanmar from next FY
FE Team | Published: May 09, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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