9th Waning of Wagoung 1386 ME 28 August 2024

THE State Administration Council hereby enacts this Law under Section 419 of the Constitution of the Republic of the Union of Myanmar.

1. This Law shall be called the Law Amending the Union Taxation Law, 2024.

2. This Law shall come into force from 1 October 2024 to 31 March 2025.

3. The words "Pure gold; gold bullions (standard gold bars, gold bullions, gold coins) and" mentioned at No 39 in Schedules attached to the Commercial Tax Law at Subsection (a) of Section 14 of the 2024 Union Taxation Law shall be removed.

4. Subsection (i) of Section 14 of the 2024 Union Taxation Law shall be substituted as follows:

"(i) A three-per-cent commercial tax shall be levied on the income from the sale of pure gold; gold bullions (standard gold bars, gold bullions, gold coins) and gold ornaments or on the landed costs in case of imports from abroad. However, the commercial tax paid when buying pure gold, gold bullions (standard gold bars, gold bullions, gold coins) or gold ornaments domestically or importing it from abroad shall not be deducted from the commercial tax payable when selling domestically or exporting."

I hereby sign this under Section 419 of the Constitution of the Republic of the Union of Myanmar.

Sd/Min Aung Hlaing Senior General Chairman State Administration Council

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