Union Tax Law approved without tax amnesty clause

10.04.18 Newsletter

The Myanmar Parliament has approved the Union Tax Law for 2018 with several changes including a decrease of commercial tax for cars from 20% to 10%. Furthermore, taxation of alcohol and cigarettes will change.
Initially, the new law included a tax amnesty clause, taxing undisclosed income of residents with 3% (from currently 15-20%). This clause has been omitted by the parliament.