Setting up and maintaining a Myanmar payroll
Myanmar (formerly Burma) is a fast-growing Southeast Asian country of more than 50 million people. Its convenient location in the Asian continent, close to India, China, and other economic powers, as well as its growing economy, make it a great choice for expansion for many organizations.
If your organization is looking to build a presence in the country, it is likely that you’ll need to hire locally and set up a Myanmar payroll. This can be a difficult process, with complicated, frequently changing labor laws often slowing down expansion progress for weeks or months on end.
At New Horizons, we specialize in providing tailored Myanmar payroll outsourcing for companies hiring in Myanmar. Our experts can handle the setup and ongoing management of your Myanmar payroll, whether or not you have an established entity in the country.
Why choose the New Horizons payroll solution?
If you have an entity
Do you already have a registered subsidiary in Myanmar? We provide payroll outsourcing services to help you set up and run your Myanmar payroll.
our entity will be the employer of record, but we are here to handle all the HR, administration, tax compliance, and more, using our expertise in Myanmar regulations so you can focus on growing your business.
If you don’t have an entity
If you haven’t yet established a Myanmar subsidiary, then our full Myanmar payroll outsourcing service is perfect for you. Our Myanmar PEO will act as your employer of record and our team will handle the administration, HR, contracts, and compliance work.
This flexible and low-risk solution helps you to enjoy all the benefits of hiring staff in Myanmar, without having to navigate the difficult employment landscape.
Simplifying your Myanmar Payroll processing
Myanmar payroll guide
What are the regulations for withholdings and taxes in Myanmar?
Myanmar uses a progressive tax system, so earners pay more in tax if they have high income levels. The rate varies from as low as 0% up to 25%. These taxes must be withheld by the employer. The corporation tax rate is set at 25%.
Entitlements and terminations of employees
Employees hired within Myanmar should be provided with a formal contract of employment. This contract should clearly detail any entitlements and termination rights.
For terminations, employers are required to provide at least 30-days notice for termination without proper reason, and they must pay severance.
How to establish Myanmar payroll outsourcing
Importantly, you will need to establish a Myanmar-based entity before setting up an in-country payroll. This process can take months or even longer in some cases, and requires a solid understanding of the regulations to ensure legal compliance.
At New Horizons, we provide Myanmar payroll outsourcing setup and management as well as our Myanmar PEO & Employer of Record for you to use as employer of record. Additionally, we can run your HR, taxes, contracts, and more to make your expansion as straightforward and problem-free as possible.