Union Tax Law 2021

The Internal Revenue Department of Myanmar announced the Union Tax Law 2021 which came into effect on 1st October 2021. Some of the major changes are the reduction of the Corporate Income Tax rate from formerly 25 percent to now 22 percent as well as increased personal income tax layer threshold amounts as below:

Union Tax Law 2020		Union Tax Law 2021
0 - 2,000,000 MMK	0 %	0 - 2,000,000 MMK	0 %
2,000,001 - 5,000,000 MMK	5 %	2,000,001 - 10,000,000 MMK	5 %
5,000,001 - 10,000,000 MMK	10 %	10,000,001 - 30,000,000 MMK	10 %
10,000,001 - 20,000,000 MMK	15 %	30,000,001 - 50,000,000 MMK	15 %
20,000,001 - 30,000,000 MMK	20 %	50,000,001 - 70,000,000 MMK	20 %
above 30,000,000 MMK	25 %	above 70,000,000 MMK	25 %

The extension of the tax amnesty for unassessed income under the Union Tax Law 2020 is being further extended under the Union Tax Law 2021 until 31 March 2022. Please contact us for further information on details and the specific tax layers.

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Union Tax Law 2021

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