Rajah & Tann Regional Round-Up
your snapshot of key legal developments in Asia
 Issue 2 - Apr/May/Jun 2021
 

Law Amending Union Tax Law 2020

The State Administration Council has amended the Union Tax Law ("UTL") by virtue of State Administration Council Law No. 20/2021, the Law Amending the Union Tax Law ("amended UTL"). The amended UTL changes the tax rates levied on income that had escaped assessment and is used for purchasing, construction, obtaining fixed assets, or expanding a business. The following table highlights the amended tax rates:


No.

Income (MMK)

Tax Rate

From

To

1.

1

100,000,000

3%

2.

100,000,001

300,000,000

5%

3.

300,000,001

1,000,000,000

10%

4.

1,000,000,001

3,000,000,000

15%

5.

3,000,000,001 and above

30%


The lower-tier tax rates have been restored to the rates as they were when introduced in the 2019 Union Tax Law. This seeks to relieve tax burdens on lower income groups. 


Please contact us for specific advice concerning changes in the amended UTL.



Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.

 

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Dr Min Thein
Managing Partner
D +951 9345343
F +951 9345348
min.thein@rajahtann.com

Chester Toh
Director
D +65 62320220
chester.toh@rajahtann.com

Jainil Bhandari
Director
D +65 62320601
jainil.bhandari@rajahtann.com

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