Professional
Professional
Taxation & Calculation
- 5% Commercial charged on professional activities (e.g. income gained from Tax, Accounting, Legal, Construction related consultancy services) except the rendering of healthcare service, education service, artistic service. (Section 14(c) of the Union Tax Law, 2018)
Self-employed professional (Income Tax)
- Income tax on professional income shall be computed by deducting the expenditure incurred for the purpose of earning that income, and depreciation allowance prescribed by the section (6) of the Income Tax Law and the remaining income shall be taxed according to the following rates:
|
Sr.No |
Income Bracket to be levied after deducting the allowances |
Income Tax Rates to be levied |
|
|
From (Kyats) |
To (Kyats) |
||
|
i |
1 |
2,000,000 |
0% |
|
ii |
2,000,001 |
5,000,000 |
5% |
|
iii |
5,000,001 |
10,000,000 |
10% |
|
iv |
10,000,001 |
20,000,000 |
15% |
|
v |
20,000,001 |
30,000,000 |
20% |
|
vi |
30,000,001 and above |
25% |
|
(the monthly income tax can be estimated &calculated in Tax Calculator link.)