The Internal Revenue Department (IRD) drafted a new income tax law with the help of International Monetary Fund (IMF) expert, U Min Htut, director general of Internal Revenue Department (IRD), told The Myanmar Times. He said the new legislation will modernise the rules and “effectively cover” different parts of the economy, catching up with international standards. […]
Read MoreWITH MORE people moving to major cities for better opportunities, Myanmar is planning to improve the quality of its indoor network coverage as part of preparing for the fifth generation of wireless technology (5G), officials say. Soe Naing, deputy director-general of the Posts and Telecommunications Department, told the recent Myanmar Indoor Coverage Digitalisation Summit 2019 […]
Read MoreMyanmar has the potential to leapfrog semi-automated production lines and jump straight into the era of Industry 4.0, or fourth industrial revolution, under which cyber-physical systems and marketplaces, smart robots and machines, big data, connectivity, energy efficiency and virtual industrialisation will take center stage. This is because Myanmar has not even fully participated in the […]
Read MoreInflation in the first six months of the current fiscal year of 2018-19 exceeded the government’s forecast by 2.7 percent, U Maung Maung Win, deputy minister of the Ministry of Planning and Finance, said at the Pyidaungsu Hluttaw meeting held yesterday. Inflation averaged 7.3 percent during the six month period ending in March compared to […]
Read MoreSalai Lian Luai, Chin chief minister, sees big opportunities for growth and returns for investors willing to channel funds into the state. Besides hotels and tourism, Chin, he said, requires large investments in infrastructure such as roads and power grids to draw a higher volume of tourists and connect the state to rest of the […]
Read MoreStarting June 1, a five percent commercial tax on mobile phones and accessories shall be collected from buyers at the time of purchase and the relevant tax stamps affixed to the receipts in accordance with the Commercial Tax Law, the Internal Revenue Department (IRD) announced earlier this month. The department issued the instruction to clarify […]
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