Monthly Archives: June 2021

1. Under the Ministry of Planning and Finance, the Internal Revenue Department arranges easy and rapid tax payment ways for taxpayer people through electronic payment, mobile banking, mobile payment, MPU Debit Card online, and links with relevant banks.
2. The taxpayer, who has received taxpayer identification number-TIN, can pay income tax, commercial tax, special commodity tax, and gem tax to the banking accounts of relevant tax office at the branches of Myanmar Economic Bank from their bank A/C opened at private banks including foreign bank branches in Myanmar with the use of CBM-NET of the Central Bank of Myanmar or https://onlinepayment.ird.gov.mm/etax which is the online tax payment system of using MPU Debit Card.
3. Income tax payment of staff from the companies paying tax at the Large Taxpayer Office or Medium Taxpayer Office can be paid to the banking accounts of the respective tax offices through electronic payments, mobile banking and mobile payments or MPU Debit Cards.
4. Relevant private banks will issue the initial documents for payment as evidence of paying tax from the banking accounts of companies through electronic payment methods, mobile banking and mobile payment or payment from MPU Debit Card. After receiving the tax payment in the accounts, the Internal Revenue Department will send the e-payment to the taxpayers on completion of paying the tax.
5. The taxpayers who have opened the banking accounts at the State-owned banks can pay tax through cash/cheque and account transfer.
6. Hence, Income tax payment for staff of the taxpayers and the companies which pay tax at the Large Taxpayer Office and the medium taxpayer offices in Yangon, except for the taxpayers who opened bank accounts at the State-owned banks, will apply easier and smoother electronic payment systems instead of cash/cheque payment system as of 1 July in 2020-21 financial year. So, the department requested the taxpayers to cooperate in the process.
7. For further information, taxpayers may contact-
   (a) Tax service office (Nay Pyi Taw)
   Office No. 46, Internal Revenue Department, Nay Pyi Taw
   Tel: 067-3430533 and 067-3430522
   (b) Tax service office (Yangon)
   No 59/61 (first floor), Pansodan Road, Kyauktada Township, Yangon
   Tel: 01-378370 and 01-378372
   (c) Information and Technology Branch (e-payment section)
   No 569/577, corner of Merchant Street and Baha Bandoola Park Street
   Kyauktada Township, Yangon, Tel: 01-8379021.
   Internal Revenue Department

Source: The Global New Light of Myanmar

National Payment System Governing Committee held its first coordination meeting in Nay Pyi Taw yesterday. During the meeting, Committee Chairman and CBM governor U Than Nyein said that it should implement the visions and missions of the National Payment System Strategy (2020-2025). It also needs to establish a secure national payment system that can effectively contribute to its financial stability and economic growth.

He also discussed matters pertaining to the use of electronic payment system for national payment, duties of government to supervise in implementing a digital payment system to reduce cash usage, modern payment and electronic payment systems, enactment of the law to protect service providers and customers, and plans to draft a law supervisory framework meeting the international criteria.

Then, Daw Than Than Swe, Deputy-Governor of CBM, presented CBM-Net System, tax payment on CBM-Net System, other tax payments via Digital payment platform of Mobile Financial Service Providers like Wave Money, OK Dollar, MPT, Ooredoo and MyTel and MMQR system. The attendees to the meeting also discussed the mobile payment systems of local banks, criteria and procedures for payments, digital payment system, cooperation works between government and private sectors for tax relief, digital sales for retail and wholesale, Cheque Truncation System, safe and secure payments and illegal payment system to be added in the payment system of the country. 

Source: The Global New Light of Myanmar

The licenced overseas recruitment agencies are allowed to send employees abroad under the Overseas Employment Law (1999), according to the Ministry of Labour, Immigration and Population. Regarding granting licence to the overseas recruitment agencies, most employees choose to depart mainly to Thailand, Malaysia, Korea, Japan, Singapore, the United Arab Emirates, Qatar, Macao and Jordan. So far, Myanmar has sent 1,320,914 employees to foreign countries from 1990 to May 2021.

The Ministry of Labour, Immigration and Population has been increasing business licence deposit fees for the overseas employment agencies from K5 million to K25 million starting from 4 February 2020. It raised deposit fees to reduce the number of overseas employment agencies, make them interested in their businesses, and work effectively. It would also ensure more prominent agencies are more responsible and accountable. According to the Ministry, among the overseas recruitment agencies, there are 295 overseas employment agencies in Myanmar that pay increased deposit fees of K 25 million.

Those who wish to apply for the new overseas employment agency license need to come and apply for the permit at the department of labour relations (head office) in Nay Pyi Taw. The application must be signed in person by the managing director of the agency companies. The managing directors need to bring the necessary documents such as company profile, national ID, census and recommendation of the police station and ward. Those, who will apply for agency licences, must show proof of personal assets worth K100 million, an updated bank account with at least K100 million from the last six months and demand letters. 

Source: The Global New Light of Myanmar