On­line tax pay­ment to start from early 2018

The Myanmar Times - - Business -

BUSI­NESSES and com­pa­nies in Myan­mar will be able to make all tax pay­ments on­line through any of the par­tic­i­pat­ing banks of the Myan­mar Pay­ment Union (MPU) pay­ment pro­cess­ing sys­tem from Fe­bru­ary 2018.

The scheme will ini­tially be made avail­able for on­line tax pay­ment by large or medium-sized tax­pay­ers be­fore be­ing ex­tended to all busi­nesses and in­di­vid­ual tax­pay­ers.

At present, all of Myan­mar’s 18 dif­fer­ent taxes, in­clud­ing in­come, com­mer­cial and sales tax are re­quired to be paid through a cum­ber­some and time-con­sum­ing pa­per-based sys­tem. The gov­ern­ment ex­pects the on­line sys­tem to not only boost tax col­lec­tion but also stream­line util­i­sa­tion of tax rev­enue. - HK­TDC

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