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:
Payment
The advance income tax must be paid
Timelines
Within 10 days after the quarter end
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.
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.
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