Myanmar Information Ministry Posts 2024 Union Tax Law

The Myanmarese Ministry of Information April 1 posted online Law No. 23/2024, the 2024 Union Tax Law. The law includes measures: 1) setting special commodity tax rates for various goods; 2) establishing a list of goods and services not subject to commercial tax, and setting tax rates for businesses subject to commercial tax; 3) exempting individual income of up to 4.8 million Burmese kyats (US$2,286) and setting special tax rates for income exceeding the threshold; 4) establishing income tax rates, thresholds, relief, allowances, and exemptions; 5) providing a 20 percent basic relief allowance for each income category, capped at 100,000 ...