Monday, September 18, 2006

Myanmar tightens levying income tax on foreign workers

Myanmar has tightened levying income tax on individual foreigners working in the country as part of a bid to normalize its loose taxation measures, the local Weekly Eleven News reported Monday. Quoting a recent order of the Ministry of Finance and Revenue, the report said the foreigners are to pay 15 percent income tax in foreign exchange if earned in foreign currencies with effect from the current financial year of 2006-07 which began in April. The order states that local nationals are also required to pay such income tax but 10 percent in foreign exchange if so earned. According to the Internal Revenue Department, for the past 18 years, the government had not taken a serious approach to tax collection from private companies and individuals.

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