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The Union Tax Law 2023 (UTL 2023) came into force on April 1, 2023. It sets the rates of special goods tax (SGT), income tax (IT), and commercial tax (CT) for the period of April 1, 2023, to March 31, 2024, and exempts certain goods and services from these taxes.
Personal income tax rates Type of taxpayer or incomeTax rateResident foreignersProgressive rates from 1% to 25%Non-resident foreignersProgressive rates from 1% to 25%Other income:Resident nationals and foreignersProgressive rates from 1% to 25%7 more rows
Individual personal income tax (PIT) rates remain at graduated rates of 0-25%. PIT exemption still applies if the individuals annual income does not exceed MMK 4.8 million (approx. USD 2,300). There are no changes in the income tax rates for undisclosed sources of income.
The 2023 UTL increased the income tax exemption threshold for new small or medium-sized enterprise (based on industry) from MMK 10 million to MMK 15 million (approx. USD 7,100) per year for three consecutive years, including the year of business commencement.
Once the company registration is completed, the Taxpayer Identification Number (TIN) is provided. Using the TIN, any kind of tax that includes but not limited to corporate tax (after the tax exemption period is over), commercial tax, and withholding tax, can be paid online.
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Personal Income Tax Individual income is taxed at the progressive rates ranging from 3% - 50% in Myanmar. Foreigners are considered tax resident who will be taxed at the progressive rates between 3% - 30% if he/she is in Myanmar for 183 days or more.
Personal Income Tax Individual income is taxed at the progressive rates ranging from 3% - 50% in Myanmar. Foreigners are considered tax resident who will be taxed at the progressive rates between 3% - 30% if he/she is in Myanmar for 183 days or more.
For married couples filing jointly, the standard deduction is $27,700 for 2023, up from $25,900 in the 2022 tax year. Thats an increase of $1,800, or a 7% bump. For single taxpayers and married individuals filing separately, the standard deduction is set at $13,850 in 2023, compared with $12,950 last year.

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