Myanmar Ministry of Planning, Finance and Industry issues notification on tax exemption recognition for non-profit organisations

28 August 2020

On 27 July 2020, the Myanmar Ministry of Planning, Finance and Industry issued Notification No. 79/2020 which clarifies procedures relating to tax registration, tax exemption and tax compliance for non-profit organisations ("NPOs") under the Income Tax Law and Tax Administration Law. The Notification notes that NPOs constitute an essential part in undertaking development activities and must be registered for tax purposes. However, an NPO may apply for a confirmation of income tax exemption. Once registered, the NPO must comply with tax compliance requirements under existing Myanmar tax regulations, including the submission of tax returns to the relevant tax office and maintenance of records for seven years from the date of the transaction as stated in the Income Tax Law and Tax Administration Law.