Notification No.38/2019 (Advanced Income Tax)

Government of the Republic of the Union of Myanmar

Ministry of Planning and Finance

Office of Union Minister

Notification

No.38/2019

4^th Waxing Day of Tagu, 1380 M.E., Naypyitaw

(8^th April, 2019)

1. The Ministry of Planning and Finance, in exercising the power conferred under S.16B of Income Tax Law, hereby specify the following rate and method of collecting advanced income tax within income year for exportation and importation of such goods when they are exported from or imported to the State –

• (a) 2% of the value of exported goods in exporting in kyats or 2% of the value of exported goods calculated by the exchange rates specified by the Central Bank of Myanmar on such date of exporting such goods in foreign currency shall be collected in kyats as advanced income tax within income year.
• (b) 2% of Assessed Value on imported goods shall be collected in kyats as advanced income tax within income year.

2. The followings are included in the exported or imported goods that shall be collected advanced income tax within income year –

• (a) Exported or imported goods carried out by Border Trade System.
• (b) Exported or imported goods carried out by Normal Trade through Border System.
• (c) Exported or imported goods carried out by Normal Trade System.

3. The followings shall not be included in exported or imported goods that shall be collected advanced income tax within income year –

• (a) Goods exported or imported by the Ministries, Departments and State Own Enterprises by permitted budget.
• (b) Automobiles imported individually as a substitution of old age automobile.
• (c) Necessary machineries and equipment imported within establishing period and raw materials imported within three years after establishing period in accordance with the tax exemption obtained according to the permit of Myanmar Investment Commission.
• (d) Goods imported by the donation of local or foreign organizations.
• (e) Fire engines, hearses, ambulances (the vehicles for hospital activities imported by private enterprises are excluded).
• (f) Raw materials imported for piecework.
• (g) Goods imported by Draw Back System.
• (h) Goods imported by Temporary Importation.

4. The advanced income tax collected within income year as the rates contained in above Article (1) shall be offset from the income tax payable under final assessment.
5. This Notification shall come into effect commencing from 1^st May, 2019.
6. The previous Notification No.7/2018 of the Ministry of Planning and Finance dated 22.1.2018 is cancelled by this Notification.

Soe Win

Union Minister

Letter No. PF/finance- 1/3/1 (2505/2019)

Date: 8^th April, 2019

download