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Explanation
PART (A)
Only the income received within the Union of Myanmar shall be stated in this part.
(1) Salaries.- Income to be show under the head Salaries shall include salary, wages, pension, bonus, fees, commissions received or receivable by the assessee, and in addition shall include perquisites or profits such as the annual value of rent-free accommodation provided to the assessee by his employer, any sum of money paid on behalf of the assessee by his employer, any sum contributed on his behalf by an employer into the provident fund recognized for income tax purpose and interest thereon, but does not include any interest received from his own contribution to the Government Provident Fund.
(2) Income from Profession.- The explanation given in sub-paragraph (3) below also to the assessees who have income under the head “profession”.
(3) Income from Business.- A Statement of accounts including the Manufacturing Account, the Trading Account, the Profit and Loss Account, and the Balance Sheet for the relevant year concerning the business of the assessee shall be attached to this return of income. As depreciation allowance may be claimed in respect of capital assets owned and used by the assessee in the business, particulars of the capital assets are to be furnished in the prescribed form.
(4) Income from Property.- The income shall be computed on the basis of the bona-fide rent receivable. Capital expenditure, personal expenses, and inappropriate expenses shall not be included in the deductible expenditure.
(5) Capital Gains.- Profits or benefits received from the sale, exchange, relinquishment, or transfer of land, buildings, vehicles and capital assets shall be stated under this head.
PART (B)
All assessees other than the non-resident foreigner shall declare their income, profits and benefits received outside the Union of Myanmar.
Tax and other sums of money paid during the income year
(a) The income-tax paid on the assessee’s own estimate, the income-tax paid in compliance with the assessment, and the income-tax deducted from salary, or any other receipt during the year are to be included in the amount of income-tax paid during the income year.
(b) Life insurance premium paid for the assessee or for his spouse during the income year is to be included in the amount of life insurance premium paid during the income year.
(c) The assessee’s contribution to the Government Provident Fund is to be included in the contribution to Government recognized savings funds during the income year.
Acknowledgement
Received a copy of the return of income for the 200 200 assessment year field by (Name .............................................................
Address ................................................................................................................................................................) .
Dated........................................ .............................................
.............................................
Contact
Contact with the Internal Revenue Department can be made as follow:
Internal Revenue Department
Ministry of Finance and Revenue
Address |
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Building No. (34),
Nay Pyi Taw, MYANMAR |
E-mail |
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MYANIRD@mptmail.net.mm |
Phone |
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095-067-410324, 095-067-410326 |
Fax |
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095-067-410325 |
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