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Myanmar Law (1991)
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The State Law and Order Restoration Council
The Law Amending the Income-tax Law
(The State Law and Order Restoration Council Law No. 6/91)
The 1st Waning Day of Hnaung Tagii, 1352 M.E.
(30th March, 1991)
The State Law and Order Restoration Council hereby enacts the following
Law:
1. This Law’ shall be called the Law Amending Income-tax Law.
2. The provision of this Law shall come into force commencing from the assessment year 1991-92.
3. In section 6 of the Income-tax Law the following sub-section shall be inserted as sub-section (c):
(c) donations made to any religious or charitable organization sponsored by the different levels of the State Organization or recognized by the Minister for the Ministry of Planning and Finance by notification for the purpose of this sub-section or any fund relating to such purposes. Such deducted amount shall not exceed twenty five per cent of the total income of the assessee.
Explanation. Charity includes contributions for public benefit such as education. health relief and welfare of the poor and needy.
4. Section 20 of’ the Income-tax Law shall be substituted by the following sections: -
20. If there is loss in any source of the income during the assessment year, such amount shall be deducted from the income accruing from the remaining sources in that year. If the total loss is not covered by such deduction, deductions shall be allowed for three consecutive years. Provided that, this section shall not apply to the following:
(a) loss from the capital assets;
(b) share of loss from any association of persons.
Sd./ Saw Maung
Senior General
Chairman
The State Law and Order Restoration Council
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Bangkok Office : |
Burma Lawyers' Council
P.O. Box 29, Hua Mark Post Office, 10243, Bangkok Thailand, E- Mail : [email protected]
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