(b) Any expenditure from the reserve
fund shall be made only by the decision of the Government;
(c) The Government shall submit
matters relating to expenditure to be incurred out
of the reserve fund to the State Law and Order Restoration
Council together with objects and reasons casewise.
7. The State Law
and Order Restoration Council, Multi-Party Democracy
General Election Commission. Government, Chief Justice.
Attorney General. Auditor General. Ministries and
Departments shall not he ed to submit supplementary
budget of the State in respect of receipt of amounts
in excess of or less he estimated amount under this
Law or appropriation of allotment by transferring
budget heads the sanctioned expenditure or expenditure
incurred from the reserve fund or expenditure incurred
he sanction of the Government under section 4. Provided
that if expenditures in conformity with the lions
contained in section 6 are not covered by the reserve
fund allowed under this Law, then such expenditures.
may be submitted to the State Law and Order Restoration
Council together with objects and as casewise.
Chapter 1ll
Taking Of Loans
8. the purpose of projects or for
expenditures shown in the State Budget, the Government
may take loans in security bonds guaranteed by Government
or deventures or by other means, within the country
in abroad. Reasonable rates of interest may he prescribed
for such loans. Conditions for repayment, portion
or provision otherwise may also be stipulated.
9. Regarding loans
obtained by issuing security bonds for covering
the deficit in the budget of the previous financial
year, new security bonds may he issued when repayment
of the loan becomes due.
10. The State
Economic Organizations and Cantonment Municipalities
may take loans from abroad, for their projects with
the approval of the Government.
11. (a) The Government
may empower the Minister of the Ministry of Finance
and Revenue for carrying out wholly or partly the
duties contained in this Chapter III;
(b) The Minister of the Ministry of Finance and
Revenue may, on behalf of the State furnish guarantees
for the taking of loans under this Chapter III.
12. During the
Financial year commencing 1st April 1995 and ending
on 31st March 1996. the amount of loans actually
received by the execution of loan agreements under
this Chapter III shall not exceed kyats thirty thousand
million.
PART III
State Economic Organizations
13. The State
Economic Organizations shall carry out their functions
in accordance with the State Budget Programme. In
carrying out such functions, a11 receipts shall
be credited to the State Budget and all expenditures
payable shall be debited from the State Budget.
14. (a) The respective
persons Who have been given the responsibility for
the receipt and expenditure of the State Economic
Organizations shall supervise and collect those
receipts and administer those expenditures as are
shown against them on Schedules (5) and (6);
(b) The respective persons who
have undertaken the responsibility under sub-section
(a) may delegate their powers to the respective
persons serving under them;
(c) Supervision and collection
of the receipts and administration of the
expenditures shall be in accordance with the provisions
of this Law, relevant laws, rules, regulations,
bye-laws, orders, directives and procedures.
15. (a) The Government
may alter the amounts shown in Schedules (5) and
(6), if it becomes necessary for the functions of
the State Economic Organizations. Such alterations
shall be shown in the revised estimate budget for
the 1995-96 financial year submitted to the State
Law and Order Restoration Council together with
objects and reasons therefore;
(b) The Government may determine
the amount of money to he contributed by the State
Economic Organizations towards the State.
PART IV
Cantonment Municipalities
16. The Cantonment
Municipalities shall subsist on their own funds
and shall carry out their functions in accordance
with their Budget Programmes.
17. (a) The respective
persons who have been given the responsibility for
the receipt and expenditure of Cantonment Municipalities
shall supervise and collect those receipts and administer
those expenditures as are shown against them in
Schedules (7) and (8);
(b) The respective persons who
have undertaken the responsibility under sub-section
(a) may delegate their powers to the respective
persons serving under them:
(c) Supervision and collection
of the receipts and administration of the expenditure
shall be in accordance with the provision of this
Law, relevant laws, rules regulations, bye-laws,
orders, directives and procedures.
18. (a) The Government
may alter the amounts shown in Schedules (7) and
(8) if it becomes necessary for the functions of
Cantonment Municipalities. Such alterations shall
he shown in the revised estimate budget for the
1995-96 financial year submitted to the State Law
and Order Restoration Council together with objects
and reasons therefore.
(b) The Government may permit Cantonment
Municipalities to obtain money required for carrying
out their functions or for investment from grants
or loans.
19. The Cantonment
Municipalities may collect only such rates and taxes
permitted by the existing laws, rules, regulations,
bye-laws, orders, directives as are relevant to
them.
Chapter V
Development Committees and Municipalities
20. The Government
may grant loans and contributions to the Development
Committees and Municipalities.
PART VI
Income-tax
21. Income-tax rates and provisions
prescribed in this Part shall Come into effect from
1995-96 assessment year.
22. Income-tax
shall he assessed at rates prescribed in Schedule
(9) of this Law.
23. The basic
relief allowed under section 6 of the Income-tax
Law shall he equivalent to twenty per cent of each
class of income. Provided that total relief for
a year shall not exceed kyats six thousand.
24. (a) Relief
allowed for the wife of an assessee, other than
an association of persons under section 6 of the
Income-tax Law shall be kyats two thousand five
hundred;
(b) Under section 6 of the Income-tax
Law relief allowed for the children of an assessee,
other than an association of persons shall be as
follows:
(1) for each child not over five
years of age, shall be kyats five hundred; -
(2) for each child above five years
of age, who has not completed ten years shall be
kyats six hundred;
(3) for each child above ten years
of age, who has not yet completed fifteen years
shall be kyats eight hundred;
(4) for each child who is above
fifteen years of age, shall be kyats one thousand.
25. In respect
of other reliefs allowed under section 6, sub-section
(b) of the Income-tax Law, the amount of relief
shall be the amount actually paid by the assessee
during the relevant assessment year.
26. The expressions
contained in this Part and in Schedule (9) of this
Law shall have the same meaning as in the Income-tax
Law.
The State Law and Order
Restoration Council
Commission, Government, Chief Justice, Multi-Party
Democracy General Election Attorney General and
Auditor General
Schedule (1)
***table at Page 26-27 at law 95-96
The State Law and Order Restoration Council,
Multi-Party Democracy General Election Commission,
Government, Chief Justice, Attorney General and
Auditor General
Schedule (2)
***table at Page 28-29 at Law 95-96
Ministries and Departments
Schedule (3)
***table at Page 30-31-32-33-34-35 at Law 95-96
Ministries and Departments
Schedule (4)
***table at Page 36-37-38-39 at Law 95-96
* * table at page - 34-35
* * Draw the table –page -36-37-38-39
* * table at page 40-41 Sc (5)
* * table at page -42-43 Sc (6)
* * table at page -44-45 Sc (7)
* * table at page -46-47 Sc (8)
* * table at page -48 Sc (9)
(b) Professions, business, property,
income from undisclosed sources and income from
other sources-
* * table at page -49-
2. In the case of non-resident
Myanmar citizens shall be 10 percent on the total
income accrued abroad before any relief allowed
under section 6 of the Income-tax Law is deducted.
3. Resident Myanmar
citizens in the Union of Myanmar and non-resident
Myanmar citizens who earn the following type of
income in foreign currency shall pay 10 per cent
(ten per cent) of the total income earned during
the income earning period in such foreign currency
as income tax:
(a) persons who earn income in
foreign currency by renting buildings, vehicles
and other property;
(b) persons who earn income under
the heading of “Salaries” such as salary,
wage, pension and annuity in the foreign currency;
(c) persons who earn” income
in foreign currency for services rendered as representatives
and for other types of services:
4. In the case
of a foreigner engaged in a State enterprise or
a State sponsored project, enterprise or in and
transaction with the approval of the Ministry concerned
shall be 20 per cent of the total income, before
any relief allowed under section 6 of the Income-tax
Law is deducted.
5. In the case
of an association of persons formed in a foreign
country, which is engaged in a State enterprise
or State sponsored project, enterprise, or in any
transaction with the approval of the Ministiy concerned
the tax shall be 30 per cent of the total income,
before any relief allowed under section 6 of the
Income-tax Law is deducted.
6. In the case
of a company established in Myanmar under the Myanmar
Companies Act or under any existing law shall he
30 per cent of the total income before any relief
allowed under section 6 of the Income-tax Law is
deducted.
7. In the case
of a non-resident foreigner, shall he 35 per cent
of the total income before any relief allowed under
section 6 of the Income-tax Law is deducted. If
the income is earned in foreign currency, income-tax
is to he paid only in such foreign currency. Provided
that if the income-tax calculated at the relevant
rate of the rates mentioned in the above sub-clause
(b) of clause I exceeds the sum calculated at 35
per cent, then the greater sum shall be paid.
Co-operative Sector
8. For the income
of the Basic Co-operative Society, group of Co-operative
Societies, Headquarters of the group of Co-operative
Societies or Central Cooperative Societies formed
and registered under the Co-operative Law-
* * table at page-51
State-owned Sector
9. The tax on
the total income of State Economic Organizations
shall be 30 per cent before any relief allowed under
section 6 of the Income-tax Law is deducted.
Rates applicable to the three Sectors
10. The tax on
the Capital gains shall be 10 per cent, before any
relief allowed under section 6 of the Income-tax
Law is deducted. Provided that if Capital gains
have accrued to a non-resident foreigner the tax
shall be 40 per cent on such Capital gains before
any relief allowed under section 6 of the Income-tax
Law is deducted.
11. If the enterprise
is formed under the Union of Myanmar Foreign Investment
Law the rate shall be 30 per cent on its total income
before any relief allowed under section 6 of the
Income-tax Law is deducted.
Determination of assessable Income
12. No income-tax
shall be paid on a total income of salary which
is not more than Kyats 25,000(Kyats twenty five
thousand only) shown in sub-clause (a) of clause
I under the Private Sector of this Schedule.
13. No income-tax
shall be paid on the total income shown in sub-clause
(b) of clause 1 under the Private Sector and the
Co-operative Sector of this Schedule which is not
more than Kyats 25,000 (Kyats twenty five thousand
only).
14. Capital assets
of one or more if sold, exchanged or transferred,
and if the total value of such transactions within
a yaer does not exceed Kyats 50,000 (Kyats fifty
thousands only) income-tax shall not be paid.
15. In cases where,
although the income exceeds the amount shown in
the above clauses 12,13 and 14, if the excess is
not considerable, the Minister of the Finance and
Revenue Ministry may, by notification prescribe
special modes of calculating the assessment of income-tax
as required, so that there shall be fairness in
assessment and without burdening the assessed.
16. Notwithstanding anything contained
in sub-section (b) of section 4 of the Income- tax
Law, no additional income-.tax shall be paid other
than the taxes shown above.
Sd./ Than Shwe
Senior General
Chairman
The State Law and Order Restoration Council
