Myanmar companies with a Taxpayer Identification Number (TIN) are urged to pay taxes using electronic payment systems made available online starting October 1, according to the internal Revenue Department (IRD).

This is to facilitate ongoing efforts to control the spread of COVID-19 by avoiding mass gatherings in public places.

Firms can now pay their taxes through digital services provided by local banks including CB Bank, Ayeyarwady Bank, KBZ Bank and Myanmar Apex Bank, via mobile money transfer and corporate debit cards by the Myanmar Payment Union.

Arrangement will also be made for individual taxpayers to pay their income taxes online. Instead of issuing a tax recordĀ  book, transactions will be recorded electronically on a mobile app.

The government will support mobile payment methods and local financial institutions will make digital and mobile payments available as much as conditions allow.-Translated

More Details: https://www.mmtimes.com/news/companies-myanmar-urged-pay-taxes-online.html