Myanmar's major tax reforms set for analysis in the report: Myanmar 2019 by global research and consultancy firm Oxford Business Group (OBG)

Myanmar’s plans to overhaul its tax regime, as part of broader efforts to boost revenue on the back of slower growth, will be mapped out in a forthcoming report by the global research and consultancy firm Oxford Business Group (OBG).

The Report; Myanmar 2019 will shine a spotlight on the 2018 Union Taxation Bill, while also considering what’s next for the government’s tax amnesty proposals, which are now subject to review, following criticism that they could encourage tax evasion and inflows from dangerous groups.

Key initiatives also set for analysis include the government’s decision to move away from the current method of tax collection to a self-assessment system.

In addition, the publication will look in detail at the broader structural reform programme, which is driving Myanmar’s efforts to attract foreign investment for its pipeline of mega-projects, such as the phased Yangon New City initiative.

Win Consulting has signed a sixth memorandum of understanding (MoU) with OBG for its forthcoming publication. Under the MoU, the firm will help OBG to produce the Tax Chapter of The Report: Myanmar 2019.

U Win Thin, Chairman, Win Consulting, said far-reaching reforms would sit well with business leaders eyeing Myanmar’s myriad investment opportunities, but perhaps also looking for signs of progress in the country’s gradual transition from frontier to market economy.

“The introduction of a self-assessment system sends out a signal that Myanmar is aware of the need to reduce corruption and improve transparency, while its plans to digitalise government services are a key step forward in the modernisation process,” he said. “I look forward to exploring these and the many other changes underway that will be of interest to OBG’s readers.”

OBG’s country director in Myanmar, Naiade Freitas, said she was delighted that Win Consulting would be contributing to the Group’s research for its 2019 report. “As a longstanding partner and one of the country’s largest professional service firms, Win Consulting has undoubtedly strengthened our coverage of Myanmar’s evolving tax regime and the implications of ongoing reforms for investors,” she said. “I’m thrilled that we will once again benefit from the input of its experts as we track the next phase in this exciting market’s economic development.”

The Report: Myanmar 2019 will mark the culmination of more than ten months of field research by a team of analysts from Oxford Business Group. It will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments, and contain contributions from key, leading representatives.

The report will be produced with the Myanmar Investment Commission. Contributions will also be made by Win Consulting, Kelvin Chia Yangon and Parami Energy. It will be available in print and online.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/major-tax-reforms-set-analysis-2019-report-myanmar )

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