Pay as You Earn (PAYE) Calculation for 2023-2024 Financial Year From (1-4-2023) to (31-3-2023)
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1. |
Salary per month (Foreign Currency) |
= |
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2. |
One Unit Equivalent MMK |
= |
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3. |
Annual Salary (Salary per month x 12 month x One Unit Equivalent MMK) |
= |
MMK |
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4. |
(Subtract) Relief |
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Basic Allowance (20%) (Not Exceed 10 Million Kyats) |
= |
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Relief for a parent who stay together |
= |
1 | 2 | ||||
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Relief for a spouse only |
= |
Yes | No | ||||
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Relief for a child |
= |
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Premium paid for the life insurance policy of an assessee and spouse |
= |
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Assessee contribution for social Security Fund |
= |
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Donation |
= |
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5. |
Net income for tax assessment |
= |
MMK |
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Income Tax Calculation |
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From 1 to 2,000,000 |
= |
0% |
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From 2,000,001 to 10,000,000 |
= |
5% |
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From 10,000,001 to 30,000,000 |
= |
10% |
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From 30,000,001 to 50,000,000 |
= |
15% |
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From 50,000,001 to 70,000,000 |
= |
20% |
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70,000,001 and above |
= |
25% |
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6. |
Amount of tax due |
= |
MMK |
$ |
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7. |
Income Tax Payment under the taxation laws in force in the respective Contracting States (For DTA Countries) |
= |
$ |
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8. |
Taxiable Income
|
= |
$ |