GRM International
  • ABOUT US
  • OUR TEAM
  • SERVICES
  • BLOG
  • CONTACT US

Corporate income tax

6/10/2023

 
Picture
Be a responsible taxpayer, Pay on time!

Corporate Income Tax
The standard corporate income tax rate for companies is 22% however, 17% for companies listed on the Yangon Stock Exchange (YSEX).

Advance Income tax (AIT)
According to Income Tax Law, Section 15, 16, 16A, any taxpayer who has chargeable income within the respective period, the advance income tax must be paid as below:
  • 2% on the assessed value of the import/export of goods
  • calculation with the respective tax rate based on the quarterly chargeable income

Payment
The advance income tax must be paid  
  • quarterly based on the quarterly chargeable income.
  • when the clearance of importation and exportation.

Timelines
Within 10 days after the quarter end
  • Q1: April-June (10 July)
  • Q2: July-September (10 October)
  • Q3: October-December (10 January)
  • Q4: January-March (10 April)
 
Penalties
Late advance income tax payment or failure to make advance income tax payment as per respective timelines, 10% of the unpaid tax due would be charged as penalty.
 
 

Comments are closed.

    Archives

    October 2023

    Categories

    All

    RSS Feed

quick links

About Us

Our Team

Services

contact us

GRM Is Proud member of:

Address:
No. (26), Hlaing Myint Mo Lane (4), Kan Street
​10th Quarter, Hlaing Township, Yangon, Myanmar

Telephone:
(+95 9) 7310 5353 / 7310 5340

​Email:
[email protected]
Picture