Working in Yangon
The Myanmar Recruitment Market
As the country’s economy opens up, the Myanmar recruitment market sees an explosion in demand for skilled professionals and managers to staff multinational companies as well as international organizations and NGOs. This demand mostprobably leave many local businesses and government agencies devoid of need professionals they need so much. Hence, MNCs intending to enter the Myanmar market are already in need to recruit Myanmar exiles, returnees or foreign expatriate hires.
Working in Myanmar
As Myanmar institutes reforms and more and more sanctions imposed on the country ease, foreign expatriates working in Myanmar can expect even more changes when it comes to visas and work permits. Right now, a Myanmar business visa will allow for a stay of 10 weeks and is extendable for up to 12 months on case-by-case basis. However, foreign expatriates intending to work in Myanmar should contact the nearest Myanmar embassy for more information on current visa and work permit formalities.
On the tax front, non-resident foreign expatriates working in Myanmar are subject to a flat tax rate of 35% on any salary derived from Myanmar employment but if the salary is paid in any foreign currency, it will be taxed at a flat rate of 15%. Taxes for foreign expatriate salaries can also vary depending upon the status of the employer in the country. Otherwise, resident foreigners and those with Myanmar citizenship have their salaries taxed at progressive rates between 3% to 30% while income from other sources is taxed between 5% to 40%.
Nevertheless, foreign expatriates who plan to work in Myanmar should expect to be quoted a net salary with taxes handled by the employer. Moreover and as Myanmar opens up its economy, it should be assumed that its tax laws are in flux. In fact and at the end of 2011, Myanmar scrapped taxes on Myanmar overseas workers. Hence and for further information about Myanmar tax rates or Myanmar’s taxes in general, go to the website for the Myanmar Internal Revenue Department
Meanwhile, foreign expatriates should be aware that Myanmar’s reputation for health care is poor with wealthier citizens opting for medical treatment in Thailand as well as Singapore and even India. Hence, foreigners and returnees alike working in Myanmar will need to have international health insurance that also covers medical evacuation in the event of a serious illness or accident.
Finally and foreign expatriates especially who are thinking about employment in Myanmar should be aware that life in the country may take an adjustment. For example: There is still very slow internet connection, services are at low level, infrastructure is really bad, so at the same time quiet dangerous. Nevertheless and as Myanmar opens up to the rest of the world, these inconveniences are gradually easining.