On 11 July 2019, Diberjohn Balinas, DFDL Myanmar Senior Tax Manager, spoke at a seminar in Yangon organized by the American Chamber of Commerce Myanmar (“AmCham”) discussing the new Tax Administration Law (“TAL”). This new law was recently enacted by the Union Parliament on 7 June 2019 and is due to enter into force on 1 October 2019. In the seminar, Diber provided an overview of the key changes introduced in the TAL, which include new tax filing and payment procedures, the new retention period of maintaining documents, changes to the re-assessment of tax returns and the appeal process, and penalties applicable to instances of non-compliance, among others. In addition, Diber also highlighted the key areas that must be considered by taxpayers, especially on the penalty provisions, before the law takes effect by this October.
The event was well attended by over 50 participants from various sectors who engaged in thought provoking and informative exchanges with our speaker during the Q&A session, which drew the seminar to a close.
Senior Tax Manager