MYANMARTAX BOOKLET
2023 - 2024
2024 - 2025

Get to the point.

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Published by VDB Loi Co., Ltd July 2024
Version 1.0
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Contents
Abbreviations........................................................................................ 1
Financial year in Myanmar ................................................................... 2
Corporate Income Tax........................................................................... 4
Rates of tax ................................................................................................................4
Deductibility ..............................................................................................................4
Depreciation .............................................................................................................5
Losses carry forward ................................................................................................52% Advanced Income Tax on importation and exportation.........................5
Withholding Tax..................................................................................... 6
Overview.....................................................................................................................6
Exemption of WHT....................................................................................................7
Capital Gains Tax ................................................................................... 8
Overview.....................................................................................................................8
Income threshold for paying CGT ........................................................................8
Rates of tax ................................................................................................................8
Calculation of CGT....................................................................................................8
Personal Income Tax.............................................................................. 9
Overview ....................................................................................................................9
Residency....................................................................................................................9Taxable salary............................................................................................................9
Tax reliefs and allowances ...................................................................................10
Rates of tax...............................................................................................................10
Social Security Contributions...............................................................................11
Rental income..........................................................................................................11
Undisclosed source of income............................................................ 12
Double Taxation Agreement ............................................................. 13
Commercial Tax.................................................................................... 14
Overview...................................................................................................................14
Taxable and Non-taxable goods & services......................................................14
Revenue threshold for charging and paying CT .............................................14
Registration .............................................................................................................15
Rates of tax...............................................................................................................15
Basis of taxation......................................................................................................15
Offsetting input and output CT ..........................................................................15

Specific Goods Tax............................................................................... 17
Overview...................................................................................................................17
SGT exemptions.......................................................................................................17
Revenue threshold for charging and paying SGT...........................................17
Registration..............................................................................................................17
Rates of tax...............................................................................................................17
Basis of taxation......................................................................................................17
Offsetting input and output SGT.........................................................................18
Jewelry Tax........................................................................................... 19
Overview ..................................................................................................................19
Tax Compliance Requirements .......................................................... 20
Compliance timelines and penalties .................................................................20
Other Taxes.......................................................................................... 22
Stamp Duty..............................................................................................................22
Property Tax.............................................................................................................22
Customs Duty..........................................................................................................22
Investment Incentives......................................................................... 23
Myanmar Investment Commission incentives................................................23
Special Economic Zone incentives......................................................................24
Investment and Free Trade Agreements ..........................................................25
Annex 1: Tax Depreciation Schedule.................................................. 26
Annex 2: Commercial Tax-exempted Goods...................................... 32
Annex 3: Commercial Tax-exempted Services.................................. 37
Annex 4: Specific Goods Tax rates for local
production and importation.............................................................. 40
Annex 5: Specific Goods Tax rates for export.................................... 44
Annex 6: Selected Stamp Duty Schedules......................................... 45
Agreements and Counterparts............................................................................45
Bond...........................................................................................................................47
Conveyance, lease, mortgage and re-conveyance.........................................48
Promissory Note......................................................................................................53
Transfer......................................................................................................................54

Abbreviations
Term
ACIA
BIT
CGT
CIF
CIT
CT
DTA
FTA
IRD
ITL
MIC
MOPF
PIT
PT
SD
SEZ
SGT
UTL
WHT

Definition
ASEAN Comprehensive Investment Agreement
Bilateral Investment Treaties
Capital Gains Tax
Cost, insurance and freight
Corporate Income Tax
Commercial Tax
Double Taxation Agreement
Free Trade Agreement
Internal Revenue Department
Income Tax Law
Myanmar Investment Commission
Ministry of Planning and Finance
Personal Income Tax
Property Tax
Stamp Duty
Special Economic Zone
Specific Goods Tax
Union Tax Law
Withholding Tax

Page 1

Financial year in Myanmar
The current financial year is running from 1 April 2024 to 31 March2025 (“FY2024-2025”) and it applies for all private and corporate
sectors including government ministries, organizations and sate-owned
enterprises. Please refer to the following table for the relevant annual tax
return filing deadlines for taxpayers.
Income Year

1 April 2023 to 31
March 2024 (FY20232024)
1 April 2024 to 31
March 2025 (FY20242025)

Deadlines for annual
tax returns filing

1 July 2024

30 June 2025

Assessment Year

1 April 2024 to 31
March 2025 (FY20242025)
1 April 2025 to 31
March 2026 (FY20252026)

The Union Tax Law 2023 (the “UTL 2023”) was enacted on 30 March 2023.
The UTL 2023 applies to FY2023-2024 starting from 1 April 2023 andending on 31 March 2024.
The major changes in the UTL 2023 include an increase in specific goods
tax rates for liquor; commercial tax exemptions for battery electricvehicles and photovoltaic/solar-related equipment; and an increase in
the income tax exemption threshold for newly established small andmedium-sized enterprises.
On 12 September 2023, the amendment to the UTL 2023 (the “Amended
UTL 2023”) is enacted that is in force within the period from 1 October
2023 to 31 March 2024. Under the Amended UTL 2023, the personal
income tax is imposed on the salary income of non-resident Myanmar
citizens in foreign countries.
The Union Tax Law 2024 (the “UTL 2024”) was enacted on 29 March 2024.
The UTL 2024 applies to FY2024-2025 starting from 1 April 2024 andending on 31 March 2025. The major changes in the 2024 UTL include
an increase in specific goods tax rates applied to Cigarettes, liquor andwine, and new commercial tax exemptions for importation of goods after
repairs under a repair and return customs procedure.
The major changes in the 2024 UTL also included that all taxpayers arerequired to fulfill their income tax obligations in the currency in which
they earned their income. This requirement applies to payments forvarious types of income tax, including corporate income tax, capitalgains tax, withholding tax, and personal income tax.

Page 3

Corporate Income Tax
Rates of tax
The current Corporate Income Tax (“CIT”) rate is 22% and it applies toall Myanmar companies, branches registered under the Myanmar
Companies Law (“MCL”) 2017, and companies operating under aninvestment license from Myanmar Investment Commission (“MIC”) (i.e.,
foreign-owned resident companies with an investment license from
the MIC granted under the Foreign Investment Law 2012 and Myanmar
Investment Law 2016).
In the UTL 2023 and 2024, the CIT rate of 22% applied to all business
entities and 17% to listed companies on the Yangon Stock Exchangeremain unchanged. The CIT rate of 25% applies to companies operatingin the oil and gas exploration and production sector. Notification
11/2023 dated 2 February 2023 issued by the MOPF clarifies the meaning
in relation to the activities covered by the expression “oil and natural
gas exploration and production sector” in Myanmar. The income tax
exemption threshold for newly established small and medium-sizedenterprises is increased from the annual net profit of MMK 10 million to
MMK 15 million for three consecutive years, including the year in which
the business operation has started.
Resident entities, which are defined as companies established under the
MCL, are obliged to declare and pay CIT on their worldwide income. Nonresidents, including branches or overseas corporations registered under
the MCL, are only obliged to pay CIT on their Myanmar-sourced income.

Deductibility
Generally, expenditures incurred for the purpose of earning businessincome are deductible, subject to certain limitations. Capital
expenditures, personal expenditures, expenditures not commensuratewith the volume of business, inappropriate expenditures, expenditures
incurred for purposes other than earning such income, and payments
made to a member of an association of persons other than a company ora cooperative society, are not deductible.

Page 4

Depreciation
A depreciation allowance is deductible for CIT purposes. Capital assets
must be capitalized and depreciated on a straight-line basis in accordancewith the rates set out in Notification 19/2016, the Second Regulations
Amending the Income Tax Regulations. If a taxpayer wishes to use a
different tax depreciation rate or a method, a request can be submitted
to the IRD starting from FY2019-2020. If the IRD approves, different tax
depreciation rate or method can be applied. A full-year depreciation
allowance can be claimed for the year in which a capital asset is acquired,regardless of whether the asset is used for all or part of that year. Pleaserefer to Annex 1<Page 26> for detailed tax depreciation rates.

Losses carry forward
Under the Income Tax Law 1974 (“ITL”), a tax loss incurred by a company
can be carried forward for up to three consecutive years and can be offset
against taxable profits in the future, with the exception of capital losses.

2% Advanced Income Tax on importation and exportation
Companies importing or exporting goods must pay a 2% Advance
Income Tax (“AIT”) on the assessed value of the goods for import andexport. There are a few exceptions, including the import of materials andequipment during the construction period of projects, and raw materials
imported during the first three years of production under an investment
license from MIC. The tax that is collected as an AIT can be offset against
the annual CIT liability.

Page 5

Withholding Tax
Overview
The MOPFI released Notification 47/2018 (“Notification 47/2018”) on
18 June 2018 which revokes the Withholding Tax (“WHT”) Notification
51/2017. The current WHT regime is governed by the Notification
47/2018 and the following WHT rates will be applicable for FY2023-2024
and FY 2024-2025.
Notification 47/2018
Type of Income
Interests
Royalties
Goods (Locally purchased goods)–payments made by governmentorganizations, ministries and stateowned enterprises
Goods (Locally purchased goods) –payments made by others apart fromgovernment organizations, ministries
and state-owned enterprises
Services (Locally rendered services)–payments made by governmentorganizations, ministries and stateowned enterprises
Services (Locally rendered services) –payments made by others apart fromgovernment organizations, ministries
and state-owned enterprises

Residents

Non-Residents

0%
10%

15%
15%

2%

2.5%

0%

2.5%

2%

2.5%

0%

2.5%

The Notification 47/2018 imposes legal obligation on the payer to deduct
WHT from payments that are subject to WHT, regardless of whether theincome recipient has agreed to the deduction or not. Please note that the
IRD may recover the WHT from the payer if the payer is failed to deduct
applicable WHT. The payer can be a resident taxpayer or a non-resident
taxpayer. The obligation for deducting WHT rests with the payer.
With effect from 1 September 2023, the MOPF has introduced a new
Page 6

WHT applicable category by Notification 63/2023 (“Notification
63/2023”) on 29 August 2023, which imposes 2% WHT on the fees
received by the private healthcare professionals from their profession
by means of providing private healthcare services in private hospitals,
clinics, diagnostic centers, nursing homes, maternity homes and otherinstitutions that provide the private healthcare services. However, this
2% WHT is not applicable to the salary payment made to the private
healthcare professionals who are employed as permanent staff of theprivate healthcare institutions.
Regarding the WHT payment, the IRD’s Announcement on 4 May 2023
states that taxpayers must make the WHT payment in foreign currency
on interest, royalty or service fees payment to non-resident vendors. This
IRD’s Announcement applies to the WHT payment on interest, royalty orservice fees payment to non-resident vendors.

Exemption of WHT
Exemption from WHT deduction is given to payments between
government organizations, and payments made to respective
government organizations and stated-owned enterprises and interest
payments to non-resident lenders who open branches locally or file
corporate income tax return for income derived from the branch.
Previously, Myanmar branches of foreign banks were considered nonresidents and are thus captured in Myanmar’s 15% WHT rate on interest
paid to non-residents. From 1 April 2017, the WHT on interest payment to
the Myanmar branches of foreign banks will no longer apply.

Page 7

Capital Gains Tax
Overview
Capital assets include land, buildings and their rooms, vehicles, andwork-related capital assets. The expression also includes shares, bonds,
securities and similar instruments. Capital gains tax (“CGT”) is applicable
to both resident and non-resident taxpayers deriving a profit from thesale, exchange, or transfer of capital assets in Myanmar. CGT is payable
by the person deriving the gains. A CGT return must be lodged by any
person who sells, exchanges or transfers capital assets, even if there is
no gain or loss.

Income threshold for paying CGT
If the total sale-value of the capital asset; which was sold, exchanged ortransferred does not exceed MMK 10 million, CGT will not be applicable.

Rates of tax
The CGT rate for all taxpayers (apart from those deriving a gain from an
upstream oil and gas asset or a company holding an upstream oil and gas
asset) is 10% and is imposed in either MMK or a foreign currency.
CGT for the upstream oil and gas sector must be paid in the same currency
in which the gain was received. The following rates apply:
Capital gain
1
2
3

Up to MMK100 billion
From over MMK100 billion to MMK150 billion
Over MMK150 billion

Tax rate
40%
45%
50%

Calculation of CGT
CGT is calculated on the full value of the sale, exchange or transfer after
deducting allowable tax depreciation, the original asset cost, any capital
expenditures to increase the life of the asset, and any expenditures
incurred in the procurement, sale, exchange or transfer of the asset. Tax
deprecation is not allowed for the year of disposal of the capital asset.

Page 8Personal Income Tax
Overview
Employers, whether residents or non-residents of Myanmar for tax
purposes, are liable to deduct personal income tax (“PIT”) from paymentsof salaries, wages and other remuneration made to all employees.
Employees that are residents of Myanmar (both Myanmar nationals andforeigners) are taxed on their worldwide income at progressive rates after
deducting the prescribed allowances and reliefs; whereas non-resident
foreigners are taxed only on their Myanmar-sourced income at the same
progressive rates and non-resident Myanmar citizens are taxed on theirsalary income received in foreign countries under the Amended UTL
2023 and UTL 2024. PIT payment for all taxpayers (both resident and nonresident) are required to be made in the same currency in which theyearned their income.

Residency
A foreign individual is considered as a resident foreigner for tax purposes
if they are residing in Myanmar for 183 days and more during an income
year from 1 April 2023 to the following 31 March 2024 for FY2023-24 and1 April 2024 to the following 31 March 2025 for FY2024-25. Accordingly,
foreigners who are residing in Myanmar for less than 183 days are
considered as non-resident foreigners.

Taxable salary
Salary income as defined by the ITL includes “salary, wages, annuities,
bonuses, awards, and fees or commissions received in lieu of or in
addition to the salary or wages”. Taxable benefits are not defined under
the law; therefore, any payment from an employer to an employee will
be considered a taxable benefit unless it can be demonstrated that it isbusiness-related only.
The following types of incomes are exempt from PIT: pensions, gratuities,
and money received from the state lottery. According to the UTL 2023
and UTL 2024 , anyone whose annual salary income is MMK4.8 million
or less is exempt from paying PIT. According to the “Amended UTL 2023
and UTL 2024”, the personal income tax will be imposed on the income
received by the non-resident Myanmar citizens in foreign countries. PIT
payment must be made in the same foreign currency in which nonresident Myanmar citizens receive the income.
Page 9

Tax reliefs and allowances
•
•
•

•
•
•
•

Basic allowance of 20% of the total annual income, up to a
maximum of MMK10,000,000 per year (approximately US$5,000)
MMK1,000,000 (approximately US$500) per annum for one
spouse who is not earning assessable income during a financial
year and is living with the taxpayer
MMK500,000 (approximately US$250) per annum for each childliving with the taxpayer who fulfills ALL of the following criteria:(i) is unmarried; (ii) is not earning assessable income; and (iii) iseither under 18, or if 18 or over, is in full-time education
MMK1,000,000 (approximately US$500) per parent for dependent
parents living with the taxpayer (the term “parent” includes afather- or mother-in-law)
Premium paid for the life insurance of the taxpayer and thetaxpayer’s spouseContribution towards the savings fund as prescribed by the
Income Tax Rules
Social security contributions made by employees to the Social
Security Board (2% of annual salary, capped at MMK72,000 per
annum) (approximately US$36)

Using an exchange rate of US$1 = MMK2,000*

Rates of tax
The tax rates for resident and non-resident employees are now at thesame progressive rates, although for resident taxpayers; the PIT rates
are applied on their worldwide income after deduction of the reliefs andallowances above, while for non-resident foreigners; the PIT rates areapplied on their Myanmar-sourced salary income without any deduction,and non-resident Myanmar citizens are liable to pay income tax on theirsalary income on the basis of two different calculation methods asfollows:
Method 1 Subtract the tax relief (i.e., 20% basic allowance, parents’
allowance, dependent spouse and dependent child allowance, etc.,) fromthe total salary amount in accordance with Section 6 of ITL, calculate theincome tax payable at the progressive personal income tax rate under
Section 19 (c) of the UTL 2023 and UTL 2024 , and as per Clause 8 of the
Income Tax Regulation (2018).

Page 10

Method 2 Calculate the income tax on the total salary income at 2%
without subtracting the tax relief under Section 6 and 6-A of the ITL.
Out of two tax amounts computed by Method 1 and Method 2 above, thelesser amount will be the PIT payable by a non-resident Myanmar citizen.
The following table shows the PIT rates on annual salary income.
Approximate US$ amounts are shown in brackets based on an exchange
rate of US$1 = MMK2,000.
No.
1
2
3
4
5
6

Taxable Income Range
From MMK (US$)

To MMK (US$)

1 (0.0005)
2,000,000 (1,000)
2,000,001 (1,000)
10,000,000 (5,000)
10,000,001 (5,001)
30,000,000 (15,000)
30,000,001 (15,001)
50,000,000 (25,000)
50,000,001 (25,001)
70,000,000 (35,000)
70,000,001 (35,001) and above

Income tax rate
0%
5%
10%
15%
20%
25%

Social Security Contributions
The Social Security Law requires an employer with at least five
employees to contribute to a social security scheme. The rates of themonthly contributions by the employer and employees are 3% and 2%,
respectively, of an employee’s total salary including benefits (capped at a
maximum monthly salary of MMK300,000), in local currency or US dollars,
depending on the currency in which the employee is paid. Hence, themaximum monthly contribution for an employee is MMK6,000, and foran employer it is MMK9,000 per employee. The employer is responsiblefor deducting the contribution from the employee’s salary and paying
the amount to the social security board.

Rental income
If income is derived from lease of land, buildings, or apartments forindividual taxpayers, such income will be subject to income tax at 10%
after deduction of prescribed tax reliefs and allowances.
For state-owned enterprises, businesses, and companies operating under
permits issued by the MIC, or cooperative societies, income tax shall becharged at the applicable rates specified for that particular category oftaxpayers.
Page 11

Undisclosed source of income
Income escaping assessment will be subject to income tax at 30% forboth citizens and foreigners before deduction of prescribed tax reliefs
and allowances mentioned under the PIT section.
However, if the citizen can disclose source for income used for buying,
constructing or acquiring any capital assets or establishing a new
business or expanding an existing business, the portion of income thatsource can be proved shall be deducted from the total undisclosed
income and the balance of the undisclosed income will be taxed at the
progressive rates mentioned in the table below. Undisclosed source ofincome is still subject to income tax at progressive tax amnesty rates
ranging from 3% to 30% under the amended UTL 2021; however, theincome ranges have been expanded.
From 1 October 2021 to 7 January 2022, the old income range will beapplicable. The new income range will be effective 8 January 2022
(FY2021-22) and it is valid until 31 March 2025 (FY2024-2025).
A comparison of old and new income ranges for undisclosed income isshown in the table below.
Tax
rate

Old Income Range (MMK)
under UTL 2021

New Income Range (MMK)
under amended UTL 2021

3%
5%
10%
15%
30%

1 – 100,000,000
100,000,001 – 300,000,000
300,000,001 – 1,000,000,000
1,000,000,001 - 3,000,000,000
3,000,000,001 and above

1 – 300,000,000
300,000,001 – 600,000,000
600,000,001 – 1,000,000,000
1,000,000,001 - 3,000,000,000
3,000,000,001 and above

Page 12

Double Taxation Agreement
Myanmar has Double Taxation Agreements (“DTAs”) in force with eight
countries: the United Kingdom, Singapore, Malaysia, Thailand, Vietnam,
India, the Republic of Korea, and Laos, with a number of other DTAs inthe draft stage, including Indonesia and Bangladesh. Accordingly, theincome tax imposts may be reduced by any DTAs that are currently ineffect.
The relief under the applicable DTA is not automatically granted andthe taxpayer concerned must submit their arguments and evidence
to the IRD for review before their income tax becomes due. In otherwords, applications for DTA relief must be approved before 31 Marchin each financial year. Certificate of Residence will be required in a DTA
application.

Page 13

Commercial Tax
Overview
Commercial tax (“CT”) is levied on four types of activities:••••

Local production and sale of goods
Importation of goods
Trading
Provision of services

Taxable and Non-taxable goods & services
Under UTL 2023, 46 goods are exempt from CT, and under UTL 2024, 47
goods exempted from CT, and the majority of the exempted goods are
related to food products (see Annex 2 <Page 32> for details) and 34 typesof services are exempted from CT (see Annex 3 <Page 37> for details).
All kinds of goods sold, and services rendered in Myanmar are subject to
CT at 5% except for the following goods and services:
Activities

Hotel and tourism services
The construction, renovation, and sale of buildings(whether by renting state-owned land or a joint venture(“JV”) with the State or on privately-owned land or byentering into a JV with a private landowner)
The importation and sale of gold jewelry
Internet services
Sale of a sim card and sim card activation (effective 8
January 2022, FY2021-2022)

CT Rate

3%
3%

1%
15%
MMK 20,000

Revenue threshold for charging and paying CT
Taxpayers whose revenue from trading, sale of goods and services in ayear exceeds the minimum threshold of MMK50 million are obliged tocharge, collect and pay CT to the IRD. A year means twelve months fromthe commencement of business including the month of commencementof business.

Page 14

Registration
CT on importation will be collected by the Customs Department together
with customs duty. In addition, if a taxpayer wishes to offset input CT(i.e., CT paid on the purchase of goods and services) against their output
CT (i.e., CT charged on the sale of goods and services), the taxpayer isrequired to be registered with the relevant Internal Revenue Department
for CT purposes.

Rates of tax
Below is a summary of the applicable CT rates:
Activities
Importation
Local manufacturing
Trading
Exportation
Services rendered in Myanmar
Real estate- lease- sale of building

CT Rate
5% unless exempted
5% unless exempted
5% unless exempted
Zero rated, unless crude
oil 5% and electricity 8%
5% unless exempted

5%3%Importation and sale of jewelries made with 1%

gold
Hotel and tourism services
Internet services
Sales of Sim-card and Sim-card activation

3%
15%
MMK 20,000 per sim-card

Basis of taxation
The tax base is the sale or service proceeds including Specific Goods Tax(if applicable) from trading, rendering services, local production or salesof goods. For imports, the tax base is the CIF (cost, insurance and freight)
value, customs duty and SGT (if applicable).

Offsetting input and output CT
All input CT can be offset against output CT. However, input CT paid on
damaged goods and unsold goods cannot be offset against output CT. If
there is more input CT than output CT at the end of the income year, theunutilized input CT cannot be carried forward or will not be refunded byPage 15

the IRD. However, such input CT can be deducted as a business expense
when calculating CIT. Please note that unutilized input CT on advancerental fees, unsold goods and unutilized raw materials can be carriedforward to next income year subject to IRD’s approval. We also notethat input CT paid on the purchase of jewelry made with gold cannot
be offset against output CT on the sale and exportation of such jewelry.

Page 16

Specific Goods Tax
Overview
Myanmar introduced a Specific Goods Tax (“SGT”), effective from 1 April
2016. SGT is imposed on:•••

The import of specific goods into Myanmar
The local production of specific goods
The export of specific goods overseas

Therefore, importers, producers and exporters of specific goods are
subject to paying SGT. As per UTL 2023 and UTL 2024, there are 14 typesof specific goods.

SGT exemptions
There are a number of SGT exemptions, including an exemption for theexport of specific goods temporarily imported for the purpose of reexporting in the same condition.

Revenue threshold for charging and paying SGT
Apart from the local production of tobacco, cheroots and cigars that
does not exceed the minimum threshold of MMK20 million, there is nothreshold for other types of specific goods.

Registration
Importers, producers and exporters of specific goods must be registeredwith the relevant IRD.

Rates of tax
SGT rates are announced on a yearly basis in the UTL. Please refer toAnnex 4 <Page 40> for current SGT rates imposed on local production
and importation as per the UTL 2023 and UTL 2024.
The SGT rates for exportation are mentioned in Annex 5 <Page 44>.

Basis of taxation
The SGT basis for importation is the landed value of the specific goods.
For local production of specific goods which are taxable as per pricerange, the basis is the greater of the factory sales price or the sales priceas estimated and specified by the Director General and Management
Committee of the IRD. For local production of specific goods which
Page 17

are not taxable as per price range will be assessed based on the value
determined Management Committee of the IRD. However, the value
determined by the IRD for locally produced specific goods which are nottaxable as per price range would be similar to the landed value of similar
goods imported from overseas.

Offsetting input and output SGT
Input SGT can be offset with output SGT.

Page 18

Jewelry Tax
Overview
All gems and jewelries are excluded from specific goods category andwill now be subject to Jewelry Tax under the Myanmar Gemstone Law.
Jewelry Tax will be based on the higher value among the sales price ofthe seller and the sales price determined by the Myanma Gems Enterprise
based on the actual sales prices. For imported gems, Jewelry Tax will bebased on the landed value.
The UTL 2023 removed the jewelry tax exemption of raw gemstonesof diamonds and emeralds. Therefore, the sale of raw gemstones of
diamonds and emeralds are now subject to jewelry tax at 9%.
Please refer to the below table regarding Jewelry Tax rates according to
the UTL 2023 and UTL 2024.
No.

Type of gems

1.
2.

Raw gemstones of jadeRaw gemstones of ruby, sapphire and other precious raw
gemstones
Finished gemstones of jade, ruby, sapphire and otherfinished precious gemstones; and finished jewelry madewith jade, ruby, sapphire, and other precious gemstones
Goods made with gemstones

3.

4.

Tax rate
11%
9%
5%

5%

Page 19

Tax Compliance Requirements
The financial year in Myanmar is now from 1 April to following 31 March.

Compliance timelines and penalties
Tax

Payment

Filing

CIT

Payments
quarterly, within
10 days after
the end of eachquarter

Annual return
within threemonths after
the income
year-end (i.e.,
30 June)Payment on amonthly basis
within 10 days
after the monthend

Page 20--

WHT Payment within
15 days of
payments to
suppliers. In
practice, thereturns andpayments canbe done on amonthly basis.
CT

Penalty--

Quarterly,
within one
month of theend of eachquarter andannual returns
within threemonths after
the income
year end (i.e.,
30 June)-Late payment - 10% of
unpaid tax due
Late return filing - the higherof either:- 5% of payable tax and 1%of payable tax for each orpart of the month during
which the failure to filecontinues; or- MMK 100,000
Late payment – 10% of
payable WHT amountFailure to deduct WHT – theIRD will consider the payer asa defaulter and will recoverpayable WHT amount fromthe payer
Late payment - 10% of
unpaid tax due
Late return filing - the higherof either:- 5% of payable tax and 1%of payable tax for each orpart of the month during
which the failure to filecontinues; or- MMK100,000

Tax

Payment

Filing

PIT

Payments within
15 days after
disbursement ofsalaryAnnual return
within threemonths after
the income
year end (i.e.,
30 June)-Payment on amonthly basis,
within 10 days
after the monthend

Quarterly,
within 10
days after thequarter-end-

Payments within
30 days from thedate of transfer
or sale of capital
assetsTransaction
CGT filing –within 30 days
from the dateof transfer ofcapital assets

-

SGT

CGT

Penalty---

Late payment - 10% of
unpaid tax due
Late return filing - the higherof either:- 5% of payable tax and 1%of payable tax for each orpart of the month during
which the failure to filecontinues; or- MMK100,000
Late payment - 10% of
unpaid tax due
Late return filing - the higherof either:- 5% of payable tax and 1%of payable tax for each orpart of the month during
which the failure to filecontinues; or- MMK 100,000
Late payment - 10% of
unpaid tax due
Late return filing - the higherof either:- 5% of payable tax and 1%of payable tax for each orpart of the month during
which the failure to filecontinues; or- MMK 100,000

Page 21Other Taxes
Stamp Duty
The Stamp Act, as amended on 1 April 2014, is the fundamental
legislation in respect of stamp duty (“SD”) obligations. The main purposeof levying SD is to give legal effect to chargeable instruments. Chargeable
instruments are documents that create, transfer, extinguish or record
rights or obligations. As a general rule, SD is levied on all chargeable
instruments, unless explicitly exempted.
If the SD is not paid at the time of execution of the instruments or within
one month (in practice) of their execution, the IRD will impose a penalty
of either 500MMK or three times the amount of the overdue SD.
Please refer to Annex 6 <Page 45> for detailed SD rates.

Property Tax
The fundamental legislation for property tax (“PT”) is the Yangon City
Development Law 2018 and Yangon City Development Committee(“YCDC”) was created to administer these laws and collect PT. PT only
applies to certain land, buildings or land and buildings (“premises”)
located within the territory of Yangon (Territory); in other areas of
Myanmar, for instance Mandalay or Nay Pyi Taw, PT is administered inaccordance with relevant local regulations.
PT includes four categories of taxes: miscellaneous tax, lighting tax,
water tax and sanitation tax. PT is levied on the annual value of landor premises in question but subject to different tax rates and is payable
once in a year. The rates and calculation of PT depend on the purposes
of use of the premises. The general user of the premises is liable to pay
PT on an annual basis once YCDC has already assessed the annual valueof the premises.

Customs Duty
In Myanmar, customs duty is levied in accordance with the Sea andLand Customs Act. Customs duty is levied on Assessment Value and ispayable according to the tariff schedule listed by HS code published by
the Customs Department.

Page 22

Investment Incentives
Myanmar Investment Commission incentives
An investment license issued by the MIC for qualified projects provides
a number of advantages that have been specified in the Myanmar
Investment Law 2016, as outlined in the chart below.
No.

Advantage

1

CIT holiday

2

Tax-free profit if
reinvested

3

Depreciation

4

R&D deduction

5

Tax exemption forimports of machinery,equipment,materials, spare parts,
construction materials
that cannot bepurchased locally
Exemption for raw
materials and semifinished goods

6

Description
Only promoted business activities
mentioned under MIC Notification 13/2017is entitled to apply for income tax holiday.
Depending on the investment zone, the CIT
holiday period can be 7 years (Zone 1), 5
years (Zone 2) and 3 years (Zone 3).
Profit which is reinvested within one year
is exempt from CIT, including the profit
reinvested in any similar type of business
Higher depreciation rates may be allowed
to start from the date of commercial
operation
Right to deduct R&D costs related from theinvestment from assessable income. It is
capped at maximum 10% of the assessable
incomeExemption from customs duty and otherlocal taxes during the construction period
and expansion period of the project i.e.,
maximum 2 years

Exempt from customs duty and other local
taxes for export-oriented businesses (onlyon raw materials and semi-finished goods
used for the purpose of manufacturing ofexports)

Page 23

No.

Advantage

Description

7

Refund of taxes andcustom duty in case ofexportWhen goods are exported, refund ofcustoms duty and other local taxes paid on
the import of the raw materials and semifinished goods used for manufacturing ofexport goods

Special Economic Zone incentives
There are two main zones under the Special Economic Zone (“SEZ”)
Law, and businesses investing in an SEZ are provided with a number ofadvantages, as listed in the chart below.
Exemptions& Relief

Free/Exempt Zone#

7 years of CIT exemption
from the start of commercial
operations
CIT rate reduction of 50% for
the following 5-year period
Tax holiday 50% of CIT on the profits
exempted for the next
5-year period (requires
reinvestment of profits
within 1 year as a reserve
fund)

Page 24

Promotion Zone#
5 years of CIT exemption
from the start of commercial
operations
CIT rate reduction of 50% for
the second 5-year period
50% of CIT on the profits
exempted for the third 5-year
period (requires reinvestmentof profits within 1 year as areserve fund)Exemptions& Relief

Customs
duty andother taxes

Carryforwardand set offof losses#

Free/Exempt Zone#

Promotion Zone#

Exemption from customs
duty and other taxes onimports of: raw materials
to be used in production;
machinery and spare parts;
construction materials
to construct a factory,
warehouse, and offices;and vehicles and otherequipment required for thebusiness

Exemption from customs
duty and other taxes for 5
years and a 50% reduction foranother 5 years on imports of:equipment and spare parts to
be used in the business (andnot for trading purposes);construction materials toconstruct a factory, andwarehouse; vehicles and otherequipment required for thebusiness
Can apply for a refund of thecustoms duty and other taxes
paid on the import of raw
materials, provided semifinished or finished goods areexported
Can be carried forward for 5 Can be carried forward for 5
years
years

Free/Exempt Zone is for export and Promotion Zone is for domestic sales
orientated business.

Investment and Free Trade Agreements
Myanmar has signed the ASEAN Comprehensive Investment Agreement(“ACIA”) with other nine ASEAN member states (“ASEAN”) in 2012.
In addition, ASEAN has signed Free Trade Agreements (“FTA”) with
China, South Korea, Australia/New Zealand, Japan and India. Therefore,
Myanmar has FTA with five countries.
Myanmar has Bilateral Investment Treaties (“BIT”) with 11 countries
which include Israel, South Korea, Singapore, Japan, India, Thailand,
Kuwait, Laos, China, Vietnam, Philippines.

Page 25

Annex 1: Tax Depreciation Schedule
No.
1

Type of capital asset

Percentage of theoriginal value

BuildingaFirst-class reinforced concrete buildings
1

Factory buildings

2.5

2Other buildings

1.25

b Second-class brick buildingsc1

Factory buildings

52Other buildings

2.5

Wooden buildings with tiled or CGI sheet
roofs
1

Factory buildings

102

Other buildings

5d Buildings made of bamboo and thatch

2

Repair cost
shall be allowed
as a current
expenditure

Furniture and fixturesaMiscellaneousb Furniture, fixtures, silverware andkitchenware used in hotels, cinemas andapartmentscPage 26

Musical instruments used in hotels, theaters
and cinemas

5(No depreciable
amount is allowed
for crockery,glassware, linen
and plastic
sheets. The costof replacing themwill be allowed
as a current
expenditure.)
6.25

10

Tax Depreciation Schedule (cont.)
No.
3

Type of capital asset
Machinerya Miscellaneousb Specific depreciable amounts shall beallowed for the following:
1
Rice mills

Percentage of theoriginal value
5

6.25

2
3
4
5
6
7
8
9
10

Wheat flour mills
Oil mills
Ice factories
Soft drink factories
Coffee factories
Black tea factories
Distillery
Bakery and biscuit factories
Noodle, vermicelli, etc. factories

6.25
6.25
6.25
6.25
6.25
6.25
6.25
6.25
6.25

11

Flour mills

6.25

12

Canneries

6.25

13

Tanneries

6.25

14
15
16

Shoe factories
Dry cell factories
Glue factories

6.25
6.25
6.25

17
18
19
20
21

Soap factories
Candle factories
Rope-making factories
Aluminum kitchenware factories
Tin container factories

6.25
6.25
6.25
6.25
6.25

22
23
24

Plasticware factories
Sawmills
Quicklime kilns

6.25
6.25
6.25

25

Electric appliance factories

6.25
Page 27

Tax Depreciation Schedule (cont.)
No.

Type of capital assetc4Percentage of theoriginal value

26

Rock wares factories

27

Smelting factories (except iron smelting) 6.25

28

Lathe machines

6.25

29

Dockyard machinery

6.25

30

Pulse and bean husking and splitting
mills

6.25

1

Oil cake factories

102

Chemical substance factories

103

Bleaching and dying factories

104

Rubber product factories

10

5Brick kilns

106

Roof tile factories

10

7

Wire and nail factories

108

Textile mills

10

9

Salt kilns

10

6.25

Machines and equipmentaOverhead cables (big)b 1

Page 28

2.5

Generators

6.25

2

Electric transmitters

6.25

3

Underground cables (big)

6.25

4

Elevators

6.25

5

General electrical appliances

6.25

6

Metal plating machines

6.25

7

Machines used for repair andmaintenance

6.25

8

Printing machines

6.25

9

Air compressors and pneumatic
machines

6.25

Tax Depreciation Schedule (cont.)
No.

Type of capital asset
c

5

6

7

Ice-cream makers

Percentage of theoriginal value
10d Machines used for movie production andprojection

12.5

e

X-ray and therapeutic apparatuses

20

Water transportationa Non-motorized iron-hulled vessels

5b Motorized iron-hulled vessels

6.25

c

10

Wood-hulled vessels

Road transport vehicles
a 1
Motor vehicles
2
Bicycles and trishawsb Taxis, trucks, buses and non-motorized
vehiclesMiscellaneous
a 1
Office equipment

12.5
12.5
20

10

2

Weighing machines

10

3

Other machines and instruments usedin workshops and factories

104Garment and headgear-making
machines

105Machines used to produce leather andcanvas products

10

6

Refrigerating machines

10

7

Machines used for construction

10

8

Machines used to produce ironware forconstruction and household use

109Machines used by mines

10

10

Hand-weaving looms

10

Sugar cane juice making machine
Surgical tools

12.5
12.5

b 1
2

Page 29

Tax Depreciation Schedule (cont.)
No.

Type of capital assetc81
Machines used for mechanized farming
2
CranesOther miscellaneous items for work purposesa 1
Airplanes
2
Machines used for data compilation andcalculators
3
Articles used by actors
4
Recording and amplifying apparatuses
5
Bottle cleaners
6
Carton box making machines

Page 30

Percentage of theoriginal value
20
20
12.5
10
20
10
10
6.25

7
8
9

Breweries and distilleries
Cameras and photographic items
Cement factories

5
10
6.25

10
11
12
13
14
15
16
17
18
19

6.25
20
6.25
10
10
5
6.25

20

Chemical substance factories
Computerized machines
Cotton crushing machines
Condensed milk factories
Duplicators and photocopiers
Iron smelting machines
Glass factories
Pesticide factories
Knitting machines
Laundry and dyeing work
- General use equipment- Washing machines
Match factories

21

Oil and gas companies

10
12.5
5

- Machines and equipment

5- Pipelines

5

Tax Depreciation Schedule (cont.)
No.

Type of capital asset

Percentage of theoriginal value- Drilling equipment

20- Drilling platforms

10- Geophysical testing equipment

10- Seismic monitoring equipment

10- Other testing equipment

10

22

Oxygen and acetylene making machines 5

23

Paint and varnish making machines

6.25

24

Chicken meat processing machines

6.25

25

Sewing machines

10

26

Paint spraying machines

1027

Sugar making machines

6.25

28

Tarpaulin (canvas or plastic) machines

12.5

29

Television- Antennas

2.5- Other equipment

12.5- Receivers(a) General

10(b) Rental

12.5

30

Roof tile machines

1031

Typewriters (electric and manual)

10

32

Umbrella making machines

1033

Vacuum cleaners

10

34

Video

35

- Game machines

20- Other video machines

10

Washing machines

12.5
Page 31Annex 2: Commercial Tax-exempted Goods
No.

Type of goods

Food Stuffs
1

Paddy, rice, broken rice, fine bran, coarse bran, husk, Fine and coarse
wheat bran, and wheat seeds, various types of maize and their seeds

2

Varieties of whole and split pulses and beans, and their flour, bran
and husks, Groundnuts, shelled and unshelled, Sesame, Niger,
residual oil-cake of groundnut, sesame, cotton seed, rice bran etc.

3Onions, garlic, Potatoes, Spices (leaves, fruit, seeds, bark) and spicemixtures (masala), Chili, chili powder, Turmeric and turmeric powder,
ginger, Ripe tamarind, Various types of salt

4

Fresh assorted fruit, Vegetables

5

Fresh tea leaves, dried tea leaves, dried shredded tea leaves,processed and packaged dried tea leaves

6

Fresh fish, fresh prawns, and fresh meat, Various types of eggs
(chicken, duck, etc.)

7

Groundnut oil, sesame oil

8

Sugarcane, sugar, jaggery, and brown slab sugar, various types ofmilk and dairy products, condensed milk, evaporated milk, various
types of milk powder, yoghurt and soy milk

9

Creamers

10

Varieties of fish sauce (ngan-pya-ye), Various types of dried fishand dried prawns, Various types of pickled fish and pickled prawns,
Coarse fish and prawn powder, Various types of fish paste (ngapi)

Agriculture and Livestock Related Goods
11

Mulberry leaves, Silk cocoons

12

Live animals, fish and prawns, terrestrial animals, aquatic animals,
amphibians, their eggs, their embryos, their offspring, and specimensfrom them, aquatic plants and seeds, seedlings, algae, and moss

Page 32

Commercial Tax-exempted Goods (cont.)
No.

Type of goods

13

Soil and fertilizers, including chemical fertilizers used for growing
plants and enhancing fructification in agricultural activities, various
types of agricultural insecticides, herbicides, fungus, bacteria,
nematodes and other plant protection agrochemicals, various types
of fumigations used in livestock farms (mosquito coils and sprays,
and rat poison not included), animal, fish and prawn medicines,
veterinary preventive medicines (including the medicines andpreventive medicines approved by the Ministry of Agriculture,
Livestock and Irrigation Development and medicines licensed by
Livestock Breeding and Veterinary Department), raw and finishedmaterials for animal, fish and prawn feed (excluding food for pets).

14

Palm oil, sunflower seeds, cotton seeds, pumpkin seeds, melon seeds,
cashew nuts, Areca (betel) nuts, areca (betel) nuts shells, quality cropand vegetable, seeds and plants

15

Raw cotton, cotton(assorted), cardamon, Thanakha, agricultural
products not specified elsewhere, Coconut oil (not palm oil)

16

Coconut yarn

17

Firewood, bamboo, Raw and processed cane, fuel block as analternative to firewood

Goods used in offices and schools
18

Sealing wax, Assorted stamps (including revenue stamps)

19

National flag

20

Slate, slate pencils, and chalk, Graphite (lead) used for the productionof pencils

21

Various types of school textbooks, education and technical reference
books that can be used by schools, universities and colleges, exercise
books and drawing books, literature, magazines, journals andnewspapers, and paper for the production of such books (between
40 gsm and 80 gsm only) and all sorts of pencils, various types ofrulers, erasers, sharpeners.

Page 33

Commercial Tax-exempted Goods (cont.)
No.

Type of goods

Health Related Goods
22

Medicinal herbal plants

23

Various types of mosquito repellent for home use

24

Honey, beeswax

25

X-ray film, X-ray paraphernalia, and other medical equipment
prescribed by the Health Department, Medical cotton, cloth,bandages, hospital outfits, masked, surgical gloves, masks that areused in prevention of influenza virus and miscellaneous items,
Various types of household medicine and other pharmaceuticals andvarious types of traditional medicine (medicines given licensed orregistered under Food and Drug Administration which are not beenprohibited by any law and regulations), Raw materials for medicine
including raw materials for traditional medicine.

26

CondomReligions and Social Use Goods
27

Rosaries (except for rosaries made with precious gemstones),
Religious clothes (robes, etc.).

28

Fire engines, search and rescue vehicles and hearses

Transportation Related Goods
29

Fuel sold to foreign embassies, UN organizations and foreign
diplomats by the Ministry of Electricity and Energy

30

Jet fuel to be used for both international and domestic flights

31

Airplane and helicopter engines, equipment, accessories, and parts
thereofIndustrial Goods
32

Bleaching substances (only those that use hydrochloride forbleaching), Raw materials to produce detergent, Raw materials to
produce soap and raw soap

33

Jute and other fibers, Oil dregs and gum tragacanth

Page 34

Commercial Tax-exempted Goods (cont.)
No.

Type of goods

34

Agricultural and livestock tools; agricultural and livestock machineryand equipment, and their spare parts; tractors; equipment used for
preparing the land and harvesting, threshing and drying together
with humans or animals; machines and spare parts (except for motor
vehicles that are required to be licensed as per the Motor VehicleLaw), various livestock equipment and tools, machinery and spareparts used for livestock. Semen (including frozen semen), sperm,
and eggs used for artificial insemination for livestock improvement,
embryos, and equipment for artificial insemination.

35

Photovoltaic (“PV”) Module, Solar Module, PV Panel, Solar Panel,
Solar Panel 92 Watt CIGS (Copper Indium Gallium Selenide), PV/
Solar (Hybrid/Smart Array) controller, charge controller for PV/Solar,
PV/Solar Inverter (String/Hybrid/Battery/Bidirectional/ Central),
PV/Solar mounted structure, Solar/PV mounted frames, Solar/PV
mounted kits (Rodd and Ground mounted), PV/Solar mounted
system (Floating), PV/Solar Controller and Battery box (only if the
PV/Solar controller and battery are imported together).

36

Battery electric Vehicles (“BEVs”), and its associated batteries andaccessories to be used particularly for BEVs

37

Raw materials or sub-assemblies or packaging materials for finishedgoods, machines, tools and machinery and their respective spareand extra parts that are not for resale and sent by clients fromabroad for the purpose of producing any finished goods on aContract Manufacturing basis.

Defense Related Goods
38

Weapons, vehicles, machinery, materials, equipment and their spareparts used by defense and security forces of the Union, Various
types of gunpowder, dynamite and any other materials for civilian
purposes (Only the products which are permitted by the office ofDefense in Chief (Army), Goods for the armed forces bought using
the allotted budget of the Ministry of Defense

Page 35

Commercial Tax-exempted Goods (cont.)
No.

Type of goods

Gemstones and Mineral Resources Related Goods
39

Blocks of pure gold (Standard gold bars and gold coins), Raw
gemstones and finished gemstones of jade, ruby, sapphire sold at
local Myanmar Gems Emporiums held by the Government

40

Oil dregs

Miscellaneous Goods
41

Goods to be sold at duty-free shops to passengers leaving thecountry.

42

Goods under the principle of reciprocity to be used by foreignembassies or consulates, their members and staff who are notambassador which are approved by the Ministry of Planning and
Finance by issuing the notification as per proposal of the Ministry ofForeign Affairs under the permission of Union Government.

43

Goods purchased from local or foreign sources under the name ofany local United Nations entity.

44

Goods purchased with cash donations or contributions given to theState by local or foreign benefactors.

45

Goods exempt from taxes by notification of the Union Government
with the approval of the State Administration Council according toState requirements.

46

Goods imported under temporary admission or on a drawback basis
subject to customs procedures.

47

Importation of goods after repairs under a repair and returncustoms procedure.

Page 36Annex 3: Commercial Tax-exempted Services
No.

Type of service

Foreign Affair Sector
1Services used by foreign embassies or consulates and members andstaff thereof under the principle of reciprocity, recommended by
the Ministry of Foreign Affairs, notified by the Ministry of Planning,
Finance and Industry under the permission of Union Government.

2

Local services used under the name of the country offices of United
Nations organizations

Defense Sector
3

Publications by the Security Press of the Ministry of Defense

Religions and Cultural Affairs Sector
4

Culture and arts services

Transportation Sector
5Parking lot rental services

6

Haulage (cargo transportation) services (transport services bytrain, car, watercraft, airplane, and crane, except transport throughpipelines)

7

Moving services

8

Toll collection services

9

Domestic and international air passenger transportation services
with fares

10

Public transport services

11

Postal service provided by Union Government

Education and Information Sector
12

Education Services

13

Publishing services for books, magazines, journals, and newspapers

Page 37

Commercial Tax-exempted Services (cont.)
No.

Type of service

Health Sector
14

Healthcare services except from cosmetic surgery

15

Traditional massage and massage by the blind

16

Animal healthcare services

17

Public toilet entrance fee collection services

Planning and Finance Sector
18Life Insurance Services

19

Microfinance services

20

Capital market services

21

Banking and financial services conducted with the permission of theCentral Bank of Myanmar

22

Customs and port clearance services

23

Lottery businessSocial Welfare, Relief and Resettlement Sector
24

Catering equipment rental services

25

Funeral services

26

Childcare and nursery services

Industrial and Electrical Sector
27

Services provided on a contract manufacturing basis

28

Industrial agriculture services

29

Private small-scale electricity production and distribution services
provided to the regions that are not connected to the national gridyet

30Battery charging services for battery electric vehicles

Miscellaneous Sector
31

License fees paid to government organizations in order to obtain any
licensePage 38

Commercial Tax-exempted Services (cont.)
No.

Type of service

32

Services exempt by the notification of the Union Government
because of State requirements with the approval of the Pyidaungsu
Hluttaw

33

Services received via donations or contributions by local and foreignorganizations to the Union

34

Interdepartmental services between the President’s Office, Union
Government Office, Pyidaungsu Hluttaw Office, Pyithu Hluttaw Office,Amyotha Hluttaw Office, Union Supreme Court Office, Constitutional
Tribunal Office, Union Election Commission Office, Union Ministries,
Union Attorney General Office, Union Auditor General Office, Union
Civil Service Board Office, Nay Pyi Taw Council Office, Central Bankof Myanmar, Social Security Board, Region or State Government
Offices, government departments, etc. (except services provided toor received by state-owned economic enterprises)

Page 39Annex 4: Specific Goods Tax rates for local production
and importation
No.
1

(a)

Type of Specific goods

Price range

Tax rate

Cigarettes, all types

Up to a sales price of
MMK800 per pack of
20 cigarettes
For a sales price of
MMK801 to MMK1100
per pack of 20
cigarettes
For a sales priceof MMK1,101 andabove per pack of 20
cigarettes

MMK13 percigarette(b) Cigarettes, all types(c)

Cigarettes, all types

2

Tobacco34

Virginia tobacco, cured
Cheroot

5
6
7
8

CigarsPipe tobacco
Betel quid preparations(a) Liquor, all types(b) Liquor, all types(c)Liquor, all types(d) Liquor, all types(e)Page 40

Liquor, all types

MMK26 percigarette

MMK29 percigarette60%60%MMK1 percheroot80%80%80%
MMK400 to MMK2,000 MMK237 perper liter
liter
MMK2,001 to MMK
MMK624 per
3,600per liter
liter
MMK3,601 to MMK
MMK 1,065
5,400 per liter
per liter
MMK5,401 to MMK
MMK1,496
7,200 per liter
per liter
MMK7,201 to MMK
MMK1,944
9,000 per liter
per liter

Specific Goods Tax rates for local production andimportation (cont.)
No.
(f )

Type of Specific goods

Price range

Tax rate

Liquor, all types

MMK9,001 to
MMK10,800 per liter
MMK10,801 to
MMK12,600 per liter
MMK12,601 to
MMK14,400 per liter
MMK14,401 to MMK
16,200 per liter
MMK16,201 to
MMK18,000 per liter
MMK18,001 to
MMK20,000 per liter
MMK 20,001 to
MMK22,000 per liter
MMK22,001 to
MMK24,000 per liter
MMK24,001 and above
per liter

MMK1 to MMK1,400
per liter
MMK1,401 to
MMK2,600 per liter

MMK2,393
per liter
MMK2,841
per liter
MMK3,290
per liter
MMK3,739
per liter
MMK4,188
per liter
MMK4,637
per liter
MMK5,272
per liter
MMK 5,745
per liter
60% of thevalue per liter
60% of thevalue per liter
MMK176 perliter
MMK440 per
liter

MMK2,601 to
MMK4,100 per liter
MMK4,101 to
MMK5,600 per liter
MMK5,601 to
MMK7,100 per liter
MMK7,101 to
MMK8,600 per liter

MMK737 per
liter
MMK1,067
per liter
MMK1,397
per liter
MMK1,727
per liter(g) Liquor, all types(h)Liquor, all types(i)

Liquor, all types(j)

Liquor, all types(k)Liquor, all types(l)Liquor, all types(m) Liquor, all types(n)Liquor, all types

9

Beer, all types

10

(a)

Wine, all types(b) Wine, all types(c)Wine, all types(d) Wine, all types(e)Wine, all types(f )Wine, all types

Page 41

Specific Goods Tax rates for local production andimportation (cont.)
No.

Type of Specific goods(g) Wine, all types(h)Wine, all types(i)Wine, all types(j)Wine, all types(k)Wine, all types(l)Wine, all types(m) Wine, all types
11
12

Timber logs, wood cuttings(a) 1,501 CC to 2,000 CC
vans, saloons, sedan
and Estate Wagon,
Coupe, except Pickup
andelectriccars
including Double Cab
4 Door Pickup(b) 2001 CC to 4000 CC
vans, saloons, sedan
and Estate Wagon,
Coupe, except Pickup
andelectriccars
including Double Cab
4 Door Pickup

Page 42

Price range

Tax rate

MMK8,601 to
MMK10,100 per liter
MMK10,101 to
MMK11,600 per liter
MMK11,601 to
MMK13,100 per liter
MMK13,101 to
MMK16,100 per liter
MMK16,101 to
MMK19,100 per liter
MMK19,101 to
MMK22,100 per liter
MMK22,101 and above
per liter

MMK2,057
per liter
MMK2,387
per liter
MMK2,717
per liter
MMK3,212
per liter
MMK3,872
per liter
MMK4,532
per liter
50% of thevalue per liter
5%
10%

30%

Specific Goods Tax rates for local production andimportation (cont.)
No.

Type of Specific goods
(c)

13
14

4,001 CC and abovevans, saloons, sedan
and Estate Wagon,
Coupe, except Pickup
andelectriccars
including Double Cab
4 Door Pickup
Kerosene, gasoline, diesel,and jet fuelNatural gas

Price range

Tax rate
50%

5%
8%

Page 43

Annex 5: Specific Goods Tax rates for exportNo.
1

Specific Goods
Timber logs, wood cuttings

Page 44

Tax rate10%Annex 6: Selected Stamp Duty Schedules
Agreements and Counterparts
Description of Instrument
AGREEMENT OR MEMORANDUM OF
AGREEMENT :‐a. if relating to the sale of a bill of
exchange;b. if relating to the sale of a Government
security or share in an incorporated
company or other body corporate;c. if relating to joint venture agreement,
production or profit-sharing contract,
construction agreement or othersimilar agreement or contract;
if not otherwise provided for.

Proper Stamp‐duty

MMK50
Subject to a maximum of
MMK10,000, MMK25 for every
MMK100,000 or part thereofof the value of the security
or share.
One per centum on theamount or value of thesubject matters. Provided thatthe maximum duty shall be
MMK150,000.
MMK300Exemptions
Agreementormemorandumofagreement:‐a. for or relating to the sale of goods ormerchandise exclusively, not being a
NOTE OR MEMORANDUM chargeable
under No.43;
b. made in the form of tenders to theGovernment of the Union of Myanmar
for or relating to any loan;c. made under the Land Acquisition Act.
d. AGREEMENT TO LEASE See LEASE ( NO.35)

Page 45

Selected Stamp Duty Schedules (cont.)
Description of Instrument

Proper Stamp‐duty

AGREEMENT RELATING TO DEPOSIT OF
TITLE‐DEEDS, PAWN OR PLEDGE, thatis to say, any instrument evidencing anagreement relating to :‐1. the deposit of title-deeds or instruments
constituting or being evidence of thetitle to any property whatever (otherthan a marketable security); or
2. the pawn or pledge of moveable
property. Where such deposit, pawn
or pledge has been made by way of
security for the repayment of money
advanced or to be advanced by way ofloan or an existing or future debt: The same duty as a Bill of
Exchange [No.13(a)] for theamount secured (if payable
on demand, 0.0065% of theamount or value; if payable
otherwise than on demand,
0.5% of the amount or value).
b. if such loan or debt is repayable not Half the duty payable on a Bill
more than three months from the of Exchange [No.13 (a)] for thedate of such instrument.
amount secured.
a. if such loan or debt is repayable on
demand or more than three months
from the date of the instrument
evidencing the agreement;

Exemptions
Instrument of pawn or pledge of goods if
unattested
COUNTERPART OR DUPLICATE of any
instrument chargeable with duty and inrespect of which the proper duty has been
paid:‐
a. if the duty with which the original The same duty as is payable
instrument is chargeable does not on the original.
exceed MMK150;
b. in any other case.
Page 46

MMK100Selected Stamp Duty Schedules (cont.)
Description of Instrument

Proper Stamp‐duty

Exemptions
Counterpart of any lease granted to acultivator when such lease is exemptedfrom duty.
LETTER OF CREDIT, that is to say, any MMK200
instrument by which one person authorizes
another to give credit to the person inwhose favor it is drawn.
LETTER OF GUARANTEE. See AGREEMENT(No.5).

Bond
Description of Instrument
BOND as defined by section 2(5), not being a
DEBENTURE (No.27), and not being otherwise
provided for by this Act or by the Court FeesAct –See ADMINISTRATION‐BOND(No.2), BOT
TOMRY BOND (No.16), CUSTOMS BOND
(No.26), INDEMNITY‐BOND (No.34), RE
SPONDENTIA BOND (No.56), SECURITY
BOND (No.57).
Exemptions
Bond, when executed by Any person for the purpose of guaranteeingthat the local income derived from private
subscriptions to a charitable dispensary or
hospital or any other object of public utility
shall not be less than a specified sum permensem.

Proper Stamp‐duty
0.5 per centum on theamount or value.

``

Page 47

Selected Stamp Duty Schedules (cont.)
Conveyance, lease, mortgage and re-conveyance
Description of Instrument

Proper Stamp‐duty

CONVEYANCE, as defined by section Two per centum on the amount2(10) not being a TRANSFER charged or or value (additional 2% if relates
to immovable property).
exempted under No.62‐
Exemptions
Assignment of copyright made under
the Myanmar Copyright Act. CO‐
PARTNERSHIP‐DEED. See PARTNERSHIP(No.46)FURTHER CHARGE:‐ Instrument of, that is The
same
duty
as
a
to say, any instrument imposing a further CONVEYANCE (No.23) (2%) fora consideration equal to thecharge on mortgaged property:‐amount of the further charge
secured by such instrument.
a. when the original mortgage is one ofthe descriptions referred to in Clause(a) of Article No.40 (that is, withpossession);b. when such mortgage is, one of thedescriptions referred to in Clause(b) of Article No.40 (that is, without
possession): -Page 48

Selected Stamp Duty Schedules (cont.)
Description of Instrument

Proper Stamp‐duty

i. if at the time of execution of the
instrument of further charge
possession of the property is given
or agreed to be given under such
instrument;

The
same
duty
as
a
CONVEYANCE (No.23) (2%)
for a consideration equal
to the total amount of thecharge (including the original
mortgage and any further
charge already made) lessthe duty already paid on suchoriginal mortgage and further
charge.

ii. if possession is not given.

The same duty as a Bond
(No.15) (0.5%) for the wholeamount payable or deliverable
under such instrument.

LEASE, including an under‐lease or sub‐lease and any agreement to let or sub ‐let: ‐
a. where by such lease the rent is fixedand no premium is paid or delivered:‐
i. where the lease purports to be for a The same duty as a Bondterm of less than one year
(No.15) (0.5%) for the wholeamount payable or deliverable
under such lease.
ii. where the lease purports to be for The same duty as a Bonda term of not less than one year but (No.15) (0.5%) for the amount
not more than three years;
or value of the average annual
rent reserved.

Page 49

Selected Stamp Duty Schedules (cont.)
Description of Instrument

Proper Stamp‐dutyiii. where the lease purports to be for a The
same
duty
as
a
term in excess of three years;
CONVEYANCE (No.23) (2%) fora consideration equal to theamount or value of the averageannual rent reserved.
iv. where the lease does not purport to The
same
duty
as
a
be for any definite term;
CONVEYANCE (No.23) (2%) fora consideration equal to theamount or value of the averageannual rent which would be
paid or delivered for the firstten years if the lease continued
so long.
v. where the lease purports to be in The
same
duty
as
a
perpetuity;
CONVEYANCE (No.23) (2%) fora consideration equal to theone‐fifth of the whole amountof the rents which would be
paid or delivered in respect of
the first fifty years of the lease.
b. where the lease is granted for a fine or The
same
duty
as
a
premium or for money advanced and CONVEYANCE (No.23) (2%) for
where no rent is reserved;
a consideration equal to theamount or value of such fineor premium or advance as set
forth in the lease.

Page 50

Selected Stamp Duty Schedules (cont.)
Description of Instrument

Proper Stamp‐dutyc. where the lease is granted for a fine The
same
duty
as
a
or premium or for money advanced in CONVEYANCE(No.23) (2%) for
addition to rent reserved.
a consideration equal to theamount or value of such fineor premium or advance as set
forth in the lease, in addition
to the duty which would havebeen payable on such lease if
no fine or premium or advance
had been paid or delivered.
Provided that, in any casewhen an agreement to lease isstamped with the ad valorem
stamp required for a lease, anda lease in pursuance of suchagreement is subsequently
executed, the duty on suchlease shall not exceed MMK300.
Exemptions
a. Lease executed in the case of acultivator and for the purposes ofcultivation (including a lease of trees
for the production of food or drink),
without the payment or delivery of any
fine or premium, when a definite termis expressed and such term does notexceed one year, or when the averageannual rent reserved does not exceed
MMK10,000.
b. Leases of fisheries granted under the
existing Laws.

Page 51

Selected Stamp Duty Schedules (cont.)
Description of Instrument

Proper Stamp‐duty

MORTGAGE‐DEED, not being an“AGREEMENT RELATING TO DEPOSIT OF
TITLEDEEDS, PAWN OR PLEDGE (No.6)”,
BOTTOMRY BOND (No.16), MORTGAGE
OF A CROP (No.41), RESPONDENTIA
BOND (No.56), OR SECURITY BOND
(No.57):‐a. when possession of the property or
any part of the property comprised insuch deed is given by the mortgagor
or agreed to be given;

The
same
duty
as
a
CONVEYANCE (No.23) (2%)(Additional 2% if relates toimmovable property) for aconsideration equal to theamount secured by such deed.
b. when possession is not given or The same duty as a BOND
agreed to be given as aforesaid;(No.15) (0.5%) for the amountsecured by such deed.
Explanation
A mortgagor who gives to the mortgagee
a power-of-attorney to collect rents or alease of the property mortgaged or part
thereof, is deemed to give possession
within the meaning of this Article;
c. when a collateral or auxiliary or
additional or substituted security, orby way of further assurance for theabovementioned purpose, where theprincipal or primary security is duly
stamped:-for every sum secured not MMK50
exceeding MMK1,000,000; and-for every MMK100,000 or part MMK50
thereof secured in excess of
MMK1,000,000.

Page 52

Selected Stamp Duty Schedules (cont.)
Description of Instrument

Proper Stamp‐duty

Exemptions
1. Instruments executed by persons
taking advances under the existing
relevant Laws, or by their sureties as
security for the repayment of such
advances.
2. Letter of hypothecation accompanying
a bill of exchange.
RECONVEYANCE of mortgaged property Subject to the maximum ofor instrument of extinguishment of a MMK10,000 the same duty as
mortgage.
a CONVEYANCE (No.23) (2%)(Additional 2% if relates toimmovable property) for theamount of the consideration forthe mortgage.

Promissory Note
Description of Instrument

Proper Stamp‐duty

PROMISSORY NOTE [as defined bysection 2(22)]:‐a. when payable on demand:‐i. when the amount or value does
not exceed MMK25,000;

MMK50

ii. when the amount or value exceeds MMK100
MMK25,000 but does not exceed
MMK100,000;
iii. in any other case.
b. when payable otherwise than on
demand.

MMK150The same duty as a BILL
OF EXCHANGE (No.13) for
the same amount payable
otherwise than on demand (ifpayable on demand, 0.0065% of
the amount or value; if payable
otherwise than on demand,
0.5% of the amount or value).

Page 53

Transfer
Description of Instrument

Proper Stamp‐duty

TRANSFER ( whether with or without
consideration ):‐a. of shares in an incorporated company or 0.1 Per centum on the value
other body corporate;of share.
b. of debentures, being marketablesecurities, whether the debenture isliable to duty or not, except debentures
provided for by section 8;

0.1 Per centum on the fix
amount of the debentures.

c. of any interest secured by a bond,mortgage‐deed or policy of insurance:‐i. if the duty on such bond, mortgage
deed or policy does not exceed
MMK500;The duty with which suchbond, mortgage-deedor policy of insurance ischargeable.

ii. in any other case.

MMK300d. of any property under the Administrator MMK300
General’s Act, section 25;
e. of any trust -property without
consideration from one trustee toanother trustee or from a trustee to abeneficiary
Exemptions
Transfers by endorsement:‐
a. of a bill of exchange, cheque or
promissory note;b. of a bill of lading, delivery order,
warrant for goods, or other mercantile
document of title to goods;
c. of a policy of insurance; (d) of securitiesof the Government of the Union of
Myanmar.
See also section 8.

Page 54

MMK300 or such smaller
amount as may be chargeable
under clauses (a) to (c) of this
ArticleBANGLADESH
VIETNAMLAOS
MYANMARCAMBODIAINDONESIA

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