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MYANMAR: Withholding Tax Set to be Abolished from 1 April 2018

All forms of withholding tax in Myanmar are set to be abolished from 1 April 2018. At present, tax is required to be withheld at the rate of 15% for all royalty and interest payable to non-residents.

Meanwhile, residents are not liable to be taxed for receipt of interest, but a 10% tax is required to be withheld for all royalties when they are paid. As regards payments made for procurement of goods and services rendered within Myanmar, tax at the rates of 2% and 2.5% is required to be withheld in respect of residents and non-residents respectively.

Content provided by Picture: HKTDC Research
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