On 29 April 2022, the Ministry of Planning and Finance issued Notification No. 20/2022 requiring all companies and organisations in Myanmar including non-profit organisations to obtain a Taxpayer Identification Number ("TIN") with the Internal Revenue Department (IRD) within the specified deadlines.
Companies and organisations, as well as non-profit organisations that have been registered with the Directorate of Investment and Company Administration (DICA) and the relevant Myanmar government agency, respectively, before 1 April 2022, must have applied for TIN before 30 June 2022. Failure to comply with this requirement will subject the errant company or organisation to a fine equivalent to 10% percent of the additional tax payable in the relevant assessment year. Companies, organisations and non-profit organisations that are incorporated or registered on or after 1 April 2022 must apply for a TIN within 90 days from the date of their incorporation or registration. The Notification does not specify any penalties for non-compliance and companies which have not yet applied after 30 June 2022 can still apply without any additional cost.
