daily11-nov16-2018-akk01

The Internal Revenue Department issued to submit income tax return, annual salary statement and annual trade tax declarations

The Internal Revenue Department issued to submit income tax return, annual salary statement and annual trade tax declarations. Year of Revenue, Year of Sales / Revenue The year of sales and revenue (accounting period) is from October 1, 2021 to March 31, 2022. Offices that will receive the declaration must submit it to the tax assessment office of the current taxpayer. If the company is not yet a taxpayer, the application must be submitted to the Central Tax Service Office for registration and tax assessment office, and the declaration must be submitted to the tax office designated by the Central Office for Taxation Services. 

If it is an individual who is not yet a taxpayer, it must be submitted to the relevant Township Revenue Office. If the submission is made in person, it will be considered as submission by the Department on the date of receipt of the receipt. In case of sending by post, it will be considered as delivery on the date stamped. In case of electronic submission, the Department will consider the submission on the date of receipt of the electronic form. When filling out the declaration, you must use the relevant forms prescribed by the Internal Revenue Department, and the tax declaration forms can be obtained from the relevant tax offices and the department’s website  at www.ird.gov.mm. The taxpayer is responsible for the accuracy and completeness of the tax declarations, so it is necessary to complete the prescribed declaration forms. 

The declaration form must be signed by the taxpayer himself, and if the tax declaration or part of the tax declaration is amended for a fee, the person making the amendment must also co-sign the declaration. The declaration must be submitted by June 30, 2022 at the latest. Failure to submit tax returns on time will result in a fine of one of the following two fines: (A) one percent of the amount of tax to be paid for each month or part of the month which continues to fail to submit the declaration from the date stipulated to be submitted by the Director-General in addition to five percent of the tax payable; (B) One hundred thousand kyats. If for some reason it is difficult to submit the declaration on time, you can apply to the relevant tax office in advance to extend the tax filing deadline.

Source: Daily Eleven

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