28 May 2018
MYANMAR: Self-Assessed Income Tax Regime Looks to End Illegal Tax Negotiations
In a bid to clamp down on illegally-negotiated tax payments and reduce the overall level of tax evasion, the country is to switch to a self-assessment tax regime. This will supersede the current practice, which sees all tax returns assessed by Internal Revenue Department (IRD) officials prior to a formal payment notice being issued.
The new regime will see taxpayers obliged to calculate and declare their own income tax liability before subsequently making the statutory payment. In certain instances, the IRD may impose an additional audit at its own discretion. As yet, however, no date has been announced for the switchover.