Myanmar revises commercial tax rate on sale of gold, gold bullion, and gold jewellery from 1 October 2024

27 September 2024

On 28 August 2024, Myanmar’s State Administration Council amended the Union Taxation Law to reflect changes to the taxation of gold and gold-related products. 

The amendment removes the exemption from commercial tax rate previously in place for specific gold products. From 1 October 2024, pure gold and gold bullion will be subject to 3% commercial tax. In addition, the commercial tax applicable to jewellery made from gold has been increased from 1% to 3%.