The income from salary : salary, wages, annuity, pension, gratuity and fees, etc: Profession : a doctor, a nurse, a lawyer, an Engineer, an architect, a film artiste, etc: The Capital Gain : profit realized from the sale, exchange, or transfer of capital asset. Capital asset: land, building vehicle and any capital asset connected with the business. Rate of the income tax
Resident Non-Resident Foreigner Foreigner (a) Salary 15% 35% (b) Capital gains other than oil and natural gas sector 10% 40% (c) Income from other than salary 30% 35% Rate of the income tax
Commercial Tax A turnover tax, like VAT or sale tax. (a) Goods produced within the state and sold domestic and abroad, (b) Goods imported from abroad, (c) Services rendered within the state. There is chargeable to pay tax only on 10 kinds of services rendered within Myanmar.
Commercial Tax Schedule 1 list item of goods exempt from the tax, 5% for Schedule 2 list items of goods, 10% for Schedule 3, 20% for Schedule 4, 25% for Schedule 5 and Schedule 6 represents specific types of goods ranging from 30% to 200%. Pay tax in foreign currency: (i) any commodity (Schedules 1 to 6 of Commercial Tax Law) rate of 8% (not including export sale of CMP );
Commercial Tax (ii) 9 kinds of services, the foreign currency includes in the receipts, prescribed rates according to the type of services. (iii) In border trade, the goods are imported from abroad, the commercial tax, will be levied with the currency used in import transaction.