Myanmar Tax Tables 2024 - Tax Rates and Thresholds in Myanmar

This page contains the tax table information used for the calculation of tax and payroll deductions in Myanmar in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ MM, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Myanmar or would like to add to or suggest amendments to the information herein then please contact us.

Myanmar Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Myanmar are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Myanmar Tax Calculator 2024.

In Myanmar, social security contributions made by employees are deductible from their gross income for the purpose of calculating taxable income. This means that the amounts contributed towards social security by employees can reduce their taxable base, potentially lowering the amount of income tax owed. This provision aligns with the objectives of Myanmar's tax system to encourage participation in the social security system while providing some tax relief to individuals, supporting their financial well-being.

Myanmar Social Security and Payroll Deduction Rates in 2024

In Myanmar, the social security system is designed to provide financial protection and support to employees in various circumstances, including retirement, health issues, work-related injuries, and maternity. Both employers and employees contribute to this system, which is administered by the Social Security Board under the Ministry of Labour, Immigration, and Population. The contributions fund several key programs aimed at supporting the well-being of the workforce.

One of the main components of the social security system in Myanmar is the health and maternity insurance program. Contributions to this program provide coverage for medical treatment, hospitalization, and maternity care for employees and their dependents. This ensures access to healthcare services, reducing the financial burden of medical expenses on workers and promoting the health of the labor force and their families.

Another significant aspect of the social security system is the provision for work-related injury benefits. These contributions fund compensation and medical care for employees who suffer from injuries or illnesses due to their job. This includes temporary or permanent disability benefits, rehabilitation services, and, in the case of work-related death, benefits for the dependents of the deceased worker.

The social security program also includes a retirement benefit scheme, which provides a pension to employees upon reaching the retirement age. This ensures a source of income for individuals after they have concluded their working life, contributing to their financial security in old age.

Unemployment benefits are also part of Myanmar's social security contributions, designed to provide temporary financial support to employees who lose their jobs. This helps to mitigate the impact of unemployment, providing workers with financial stability while they seek new employment opportunities.

Employers in Myanmar are required to register with the Social Security Board and make contributions on behalf of their employees. These contributions are deducted from the employees' salaries and, along with the employers' contributions, are directed towards funding the social security benefits.

Despite the comprehensive coverage offered by Myanmar's social security system, challenges such as extending coverage to the informal sector and improving the efficiency and sustainability of the system remain. Efforts are ongoing to reform and strengthen social security in Myanmar, aiming to enhance protection and support for all workers.

Understanding the structure and benefits of social security and payroll deductions is essential for both employers and employees in Myanmar. It ensures compliance with legal obligations and provides a vital safety net for the workforce, supporting their well-being and financial stability.

Myanmar VAT Rates in 2024

VAT rates for Myanmar are reviewed annually, you can use the VAT Calculator to calculate VAT due in Myanmar or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Myanmar

The following tax tables are supported by iCalculator™ MM as part of the suite of free tax tools we provide for Myanmar.