Home » Myanmar Publications » Offshore Remittances – New Rules
Offshore Remittances – New Rules

Offshore Remittances – New Rules

May 29, 2023

As a regulatory measure, the Ministry of Planning and Finance (the “MOPF”) issued a new Standard Operating Procedure (“SOP”) on 1 May 2023 regarding offshore remittances and required tax documentation. According to the SOP, the entrepreneurs, companies, organizations, and individuals are now required to provide certain tax documentation, such as tax payment receipts or tax exemption letters issued by the Internal Revenue Department (“IRD”) or tax clearance certificates, to the Authorized Dealer Banks (“AD Banks”) when remitting offshore payments exceeding US$10,000 per transaction.   

Below is the summary of required tax documentation for each type of offshore remittance:

 No. Type of offshore remittance Required tax documentation Required action taken by the IRD and AD Banks
1Interest, royalty (license, trademark or copyright), and service fee payment
  • Taxpayer Identification Number certificate
  • WHT payment receipt
  • WHT exemption letter issued by the IRD
  • IRD is responsible to provide clarifications should there be any clarifications sought by the AD banks relating to required tax documentation.
  • IRD is responsible to respond to any queries from individuals who are remitting offshore payments.
  • AD banks are responsible to verify required tax documentation before they approve and process the offshore payment transactions.
2Dividend payment and offshore remittance for the goods purchased
  • Tax clearance certificates
    • Pa Ta Kha (Wa Nga) – 8) under Official Assessment System (“OAS”) or
    • SAS-1 under Self-Assessment System (“SAS”)
3Salary remittance
  • PIT payment certificate
    Pa Ta Kha (Wa Nga)-15A of employees

As per the SOP, taxpayers are now requested to make WHT or PIT payment first before offshore remittances can be made, which in fact conflicts with requirements under the Income Tax Regulation (“ITR”) and WHT Notification 47/2018. Under the ITR or the WHT Notification 47/2018, taxpayers are required to make WHT or PIT payment within 15 days from the date of payment. In other words, taxpayers can still pay WHT or PIT to the respective IRD office after having made payments to their vendors or employees. The introduction of SOP may lead to a delay in the payment process between a taxpayer and its vendors or employees.     

In respect of offshore remittances for the goods purchased, tax clearance certificate may not be relevant tax documentation that should be requested from the taxpayers. In practice, taxpayers may not receive tax clearance certificates from the IRD yet for recent financial years. Please also be informed that it is still required to seek approval from the Foreign Exchange Supervisory Committee for offshore remittances.


Honey is a Partner and is advising clients in a wide range of industries on tax compliance, accounting and payroll, financial and tax due diligence and tax structuring. She has recently conducted financial due diligence on state-owned banks in Myanmar for its restructuring. Honey qualified as a CPA with PwC in Sweden and holds a master’s degrees in accounting, finance and business development from Umea University in Sweden and a bachelor degree in Business Management from National Management College in Myanmar.

Read more

Ei is a senior tax manager in our Tax team. She assists clients in a wide range of sectors on tax. and labor compliance matters. She has been experienced about 3 years in Deloitt touch Myanmar vigour audit firm as a senior associate, one year in KDDI company limited as senior staff for internal audit. She graduated with BSc. (Maths) form Yangon University of Distant Education. She got Dip in International Financial Accounting, Dip in International Financial Reporting from ACCA and IQN. She is current attendance CPA-Part (1).

Read more