by www.jobsinyangon.com
Tags: personal income tax in myanmar-jobsinyangon.com-rogerquest
1. Allowance for Parents : 1,000,000 MMK for father and 1,000,000 for Mother
2. Child Allowance : 500,000 MMK for a child ( If the child is above 18 years old and if the child is student, allowance for this child will be considered)
3. Presonal Relif : 20%
4. Spouse Allowance : 100,0000 MMK
5. If the employee will earn not more than 4,800,000 MMK per year, he/she is not eligible for Personal Income Tax.
For Example , if you earn MMK 1,632,000 per month, please see below,
| Monthly Salary (MMK) |
1,632,000 |
|
|
| Income for 12 month(s) |
19,584,000 |
|
|
| Personal Relief |
-3,916,800 |
20% |
|
| Parent Relief |
-2,000,000 |
2000000 for father and mother |
|
| Spouse Relief |
-1,000,000 |
Spouce Reliefe |
|
| Child Relief |
-1,000,000 |
Allowance for two child |
|
| Social Security |
-72,000 |
|
|
| Total Relief |
-7,988,800 |
|
|
| Taxable Income |
11,595,200 |
Employee needas to pay PIT based on this tax |
| Total Tax (MMK) |
889,280 |
|
|
| Monthly Tax (MMK) |
74,107 |
|
|
| |
|
|
|
| Details Calculation for taxable income |
| Description |
Rate |
Taxable |
Tax Amount (MMK) |
| Up to 20 Lakh |
0% |
2,000,000 |
0 |
| 20 Lakh - 50 Lakh |
5% |
3,000,000 |
150,000 |
| 50 Lakh - 100 Lakh |
10% |
5,000,000 |
500,000 |
| 100 Lakh - 200 Lakh |
15% |
1,595,200 |
239,280 |
| Total |
11,595,200 |
889,280 |
Salary Up to 450,000 MMK
| Example |
|
|
| |
|
| Monthly Salary (MMK) |
450,000 |
|
|
|
| Income for 12 month(s) |
5,400,000 |
|
|
|
| Personal Relief |
-1,080,000 |
20% |
|
|
| Parent Relief |
-1,000,000 |
2000000 for father and mother |
|
|
| Spouse Relief |
-1,000,000 |
Spouce Reliefe |
|
|
| Social security fees |
-72,000 |
|
|
|
| Child Allowance |
-500000 |
500000 per child |
|
|
| Total Relief |
-3,652,000 |
|
|
|
| Taxable Income |
1,748,000 |
( No Need to Pay Personal Income Tax) |
|
|
| |
|
|
|
|
| Details |
|
|
|
| |
|
|
| Description |
Rate |
|
|
|
| Up to 20 Lakh |
0% |
|
|
|
| 20 Lakh - 50 Lakh |
5% |
|
|
|
| 50 Lakh - 100 Lakh |
10% |
|
|
|
| 100 Lakh - 200 Lakh |
15% |
|
|
|
| 200 Lakh - 300 Lakh |
20% |
|
|
|
| Above 300 Lakhs |
25% |
|
|
|
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