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Myanmar Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
55,622,506 (July 2018 est.)GDP (PPP)
$329.8 (2017 est.)GDP growth rate
6.8% (2017 est.)High and stable
GDP (PPP) per capita
$6,300 (2017 est.)Very low. One of the poorest countries in Asia
Local currency
Burmese kyat (MKK)Weak currency
Financial stability (Public debt)
33.6% of GDP (2017 est.)Low
Inflation
4.0% (2017 est.)Medium to high and unstable
Language
Burmese (official) and other local languagesEnglish is not widely spoken
Corruption perception index (Source: Transparency International)
Rank 132/180Very high, however it is improving
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
No VATThere is a commercial tax at rates ranging from 0% to 8% depending on type of goods/service
Corporate Tax
25% standard rateVarious systems of economic incentives have been created, due to that exemptions are possible (see Myanmar Investment Law and Myanmar Special Economic Zone Law)
Duties
Rates up to 40%Various systems of economic incentives have been created, due to that exemptions are possible (see Myanmar Investment Law and Myanmar Special Economic Zone Law)
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