Accounting Services

Cho Myint & Associates provides a full range of accounting services to small and medium-sized businesses in Myanmar. Some companies only require the most basic tax reporting, while some opt in for a full bookkeeping service.

 

Bookkeeping Services

In Myanmar, all Myanmar and foreign companies have to comply with a number of requirements for accounting and tax compliance. Interactive helps your business comply with Myanmar’s statutory requirements. We will assist you in all applicable areas from monthly bookkeeping, tax advisory, statutory filing requirements and more.

 

Income Tax
The Income Tax Law is applicable to the following types of taxpayers:

  1. State Economic Enterprises
  2. Co-operative Societies
  3. Foreigners and foreign organizations engaged under special permission in State sponsored enterprises
  4. Foreigners engaged by the private sector enterprises
  5. Foreign and local companies
  6. Myanmar Nationals
  7. Partnerships or joint ventures formed between or with the above

 

Types of Income

Taxable income is computed under each of following heads of income. Income tax is charged on total income of the followings except salaries and capital gains which are assessed separately.

  1. Salaries
  2. Profession
  3. Business
  4. Property
  5. Capital gains
  6. Income from other sources
  7. Income from undisclosed sources

 

Taxable period

Myanmar financial year is from 1 April to 31 March. Companies as well as individuals are not allowed to select different financial year ends. Taxable year or income year of a company is the same as its financial year.

 

Tax Advisory Services

Along with increasing business transactions within Myanmar the last few years , there have been an increase in taxation related issues for both individuals and companies . Interactive Myanmar’s tax team provides professional consulting services in taxation such as corporate and personal income tax services for both local and international enterprises within the areas of:

  1. Tax Disputes
  2. Custom Duties
  3. Statutory Compliance
  4. Tax Advisory
  5. Structuring Investment in Myanmar
  6. Mergers and Acquisitions
  7. Liquidation
  8. International Corporate Tax

Our services are available for Myanmar and foreign business entities and individuals that want to know whether they are complying with the latest Myanmar fiscal rules, that want to limit their tax exposure and plan their investment, and for every business entity that needs advise on how to run their day-to-day operations in compliance with Myanmar tax laws.

If you have any questions or are seeking for advice, please do not hesitate to contact Interactive Myanmar.

 

Payroll Services

Even with a small number of employees, calculating and processing salaries can be a tedious and time consuming process.

Our scope of work will include the following services:

  1. Prepare computation of the monthly salary of the staff
  2. Submit monthly payroll statement to management of the Company as instructed by the Company from time to time

Management of the Company is responsible for providing the following necessary information and documents on timely basis:

  1. Copy of employment contract
  2. Any changes to existing employment contract
  3. Daily attendance record
  4. Leaves taken during a month
  5. Overtime record and rate if overtime is entitled for the staff

 

We are happy to discuss your particular needs at a time of your convenience. Simply send us an E-mail or give us a call to set-up a meeting time.