"Amendments to Myanmar?s tax regime have been long-awaited. On March 24, 2014, the Union Government enacted two new tax laws with immediate effect. These are the Law Amending the Income Tax Law, Pyihtaungsu Hluttaw Law No. 15/2014 and the Law Amending the Commercial Tax Law, Pyihtaungsu Hluttaw Law No. 16/2014. On March 28, 2014 a third tax law, the Tax of the Union Law, Pyihtaungsu Hluttaw Law No. 20/2014, was enacted as well. The new laws clarify exemptions and tax rates charged as well as outlining a certain amount of tax administration housekeeping. New tax rates will apply to the forthcoming tax year..."