Myanmar Enacts Union Tax Law 2026, Including Increased Threshold for SME Tax Exemption

Myanmar's National Defense and Security Council enacted the Union Tax Law (UTL) 2026 on 15 March 2026. One of the main measures of the UTL 2026 is an increase in the income tax exemption threshold for newly established small and medium-sized businesses from MMK 15 million to MMK 20 million per year for 3 consecutive years, including the year in which the business started. The UTL 2026 also increases the Specific Goods Tax (SGT) on liquor, wine, beer, cigarettes, and cheroots, and removes the …