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Myanmar: Tax relief provided for tourism industry, certain other taxpayers (COVID-19)

Myanmar: Tax relief provided for tourism industry

Tax relief is provided to certain taxpayers (including small and medium size entities, those in the hotels and tourism sector, and the “cut make pack” industries) in response to the coronavirus (COVID-19) pandemic.

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The tax relief provided for these taxpayers includes:

  • Postponed deadlines for payment of income tax for the quarters ending 31 March 2020 and 30 June 2020—the new deadline is extended to 30 September 2020
  • Advance income tax at a rate of 2% on exports is exempt from tax until 30 September 2020
  • Deferral of payment of monthly commercial tax for the period 31 March 2020 through 30 August 2020 until 30 September 2020

The government also provided a lending program for these taxpayers, with loans having an interest rate of 1% for the first year.

Read a March 2020 report prepared by the KPMG member firm in Myanmar

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