Myanmar’s tax reform process gained unprecedented momentum in March 2012, following changes to two important tax laws, the Income Tax Law (ITL) and the Commercial Tax (CT) Law (CTL). The changes came into effect on April 1, 2012, and the reforms resulted in an overall reduction of tax rates. For example, the corporate tax rate was reduced from 30% to 25%, and CT rates on...
Tax
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Articles & Analysis | New tax laws and amendments make doing business clearer from The Report: Myanmar 2015
Interviews & Viewpoints | U Win Thin, Chairman, Win Consulting, on the launch of a new tax system: Viewpoint from The Report: Myanmar 2015
In the democratic transformation process of the Republic of the Union of Myanmar, tax revenues play a vital role in the state budget. The Internal Revenue Department (IRD) under the Ministry of Finance is trying its best to earn optimum revenue from two main sources: a direct tax, in the form of income tax; and an indirect tax, through commercial taxes on the growing...
This chapter offers an overview of Myanmar’s tax system, examining how new laws and amendments are affecting the country’s business environment. It also features a tax viewpoint from U Win Thin, Chairman, Win Consulting.
Over the past few years Myanmar has experienced a number of dramatic transitions that have restructured its economy, rapidly changing its unique landscape and gradually enriching the social welfare of its people. These changes have placed modern-day Myanmar back on the international investment radar and have seen the nation coined “the Last Frontier”.
Articles & Analysis | Understanding the tax framework from The Report: Oman 2015
Tax is a key component of Oman’s effort to move forward with its development. Foreign companies and individual investors may establish operations in one of the following forms:
Interviews & Viewpoints | Kenneth Macfarlane, Country Senior Partner, PwC: Interview from The Report: Oman 2015
How can Oman use targeted tax reform to enhance its attractiveness as an investment destination?