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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