Capital City

Official Language (s)

Language required for filings


51.48 million (2014)

$ 244.331 billion

Corporate tax rate

Foreign exchange controls

Myanmar is rich in natural resources, arable land, forestry, and minerals, as well as freshwater and marine resources, gems and jade. In recent years, the country has also emerged as a natural gas exporter, with exports to neighbouring countries providing an increasingly important revenue stream. There are visible signs of economic progress in Myanmar. For example, mobile phone services have never been more accessible. Myanmar has historically had the lowest mobile phone penetration in the region (with only fewer than 10% of the population having access to mobile services). With the entry of Ooredoo and Telenor, telephone penetration is expected to grow to approximately 40% by 20171 . Automated teller machines, which did not exist a few years ago, are starting to dot the major cities as well. The economy is expected to grow by about 6.4% a year in the fiscal year ending 31 March 2015 (FY14). The economy continues to perform well: tourist arrivals were up by nearly 50% in 2014, foreign investment is poised to more than double in FY14 (compared with the previous FY) and two-way merchandise trade was up by more than 30% year on year in January - August 2014.

Business in Myanmar

The agency in charge of incorporating companies and business registration is Directorate of Investment and Company Administration.
1.1 Types of Business

There are several types of businesses in Myanmar

  • Private Limited Liability Company
  • Public Limited Liability Company
  • Sole Proprietorship
  • Company Limited by Guarantee with Share Capital
  • Company Limited by Guarantee without Share Capital
  • Partnership
  • Branch of Foreign Company

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1.0 Employment

The relationship between employers and employees in Myanmar is regulated by the Ministry of Labour, Employment and Social Security.
1.1 Types of Employment

There are several types of employment that is recognized

  • Fixed Term Contract (12 to 36 months)
  • Non Fixed Term Contract
  • Seasonal (Less than 12 months)

1.2 Mininum Wage

3,600 kyat for an eight-hour work day.

1.3 Annual Leave

The minimum number of annual leaves in Myanmar is 10 days.

1.4 Pension

Insured person: 1.5% of monthly earnings, according to 15 wage classes.

  • The minimum and maximum monthly earnings used to calculate contributions are based on 15 wage classes.
  • The minimum monthly contribution is 45 kyats (lowest wage class).
  • The maximum monthly contribution is 465 kyats (highest wage class).
  • The insured's contributions also finance the work injury funeral grant.

Self-employed person: Not applicable.

Employer: 2.5% of monthly payroll, according to 15 wage classes.

The minimum and maximum monthly earnings used to calculate contributions are based on 15 wage classes.

  • The minimum monthly contribution is 75 kyats (lowest wage class).
  • The maximum monthly contribution is 775 kyats (highest wage class).
  • The employer's contributions also finance the work injury funeral grant.

Government: Subsidies as required.

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2.0 Taxation
Inland Revenue Board of Malaysia

The Ministry of Finance Myanmar formulates and implements effective monetary and financial policies in order to meet political, economic, social, and other development objectives laid down by the State.

2.1 Corporate Tax

Businesses in Myanmar are subject to corporate income, personal income, commercial, and property taxes. A 25 percent corporate tax rate per annum is applied to all companies incorporated in Myanmar under the Myanmar Companies Act and Foreign Investment Law. A branch of a foreign company is taxed at a rate of 35 percent per annum because they are considered nonresident by Myanmar tax laws, while other types of companies are generally considered resident.

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Goods & Services
2.2 Commercial Tax

There is no VAT system in Myanmar. A commercial tax (Commercial Tax) is imposed on a wide range of goods, imported into or produced in Myanmar, trading sales, and services by the Myanmar Customs Department. The rates of Commercial Tax are set out in various schedules to the Commercial Tax Law introduced on 31 March 1990.
Registration for commercial tax is required when the amount of income from sales and services for an income year is MMK 10 million or more. There is no commercial tax on the export of goods with very few exceptions. These include:-

  • 5% – petroleum crude
  • 8% – natural gas
  • 30% – jade and other precious stone
  • 50% – teak log and teak conversion; and hard wood log and hard wood conversion. (Such as teak, jade, precious stones, oil and natural gas). Services are only subject to commercial tax if they are listed in schedule 7 to the Commercial Tax Law.

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