Union Tax Law 2015
In 2014, the Myanmar parliament first started announcing tax rate changes through the Union Tax Law 2014 and with promises to do the same on an annual basis, similar to other more established jurisdictions. They have followed through in 2015 and published the Union Tax Law 2015 on 6 April 2015 which is effective from 1 April 2015, at the start of the new fiscal year.
We are glad to highlight some of the key changes which we think will be of interest to potential foreign investors as well as Myanmar businesses.
KPMG Tax Alerts highlight the latest tax developments, impending change to law or regulations, current practices and potential problem areas that may impact your company. As certain issues discussed herein are time sensitive, it is advisable to make your plans accordingly.
“Myanmar Tax Alert” is issued exclusively for the information of clients and staff of KPMG Advisory (Myanmar) Ltd and should not be used or relied upon as a substitute for detailed advice on the basis for formulating business decisions.