Articles
28
Feb
2020
미얀마 세무 가이드북 2019 – 2020
2019년 5월 28일, 기획재정부(“MOPF”) 산하 국세청(“IRD”)에서는 2019 년 10월 1일부터 과세연도가 기존의 4월1일 – 3월 31일에서 10월 1 일 – 9월 30일로 변경된다고 발표했습니다. 이에 따른 결과로 납세자는 2019년 4월 1일부터 2019년 9월 30일(“2019회계연도” 또는 “과도기”) 까지 6개월의 기간을 한 과세연도로 인정합니다. Download here
26
Feb
2020
The DICA Clarifies Corporate Approval of Director and Related Party Transactions
Related party transactions are a frequent occurrence in Myanmar corporate life. When one company transacts with another company with which it has some sort of connection through shareholders, directors, family etc… Highlights of this note Board approval procedure under s. 187: Member approval procedure under s. 188: Different interpretations possible Clarification
26
Feb
2020
Banks Ordered to Improve Customer Due Diligence
On 15 November 2019, the Central Bank of Myanmar (“CBM”) issued Directive 18/2019 on 15 November 2019 on customer due diligence. The directive sets out guidelines for customer due diligence, and mandates that banks develop an effective framework and practices in order to conduct risk assessments and manage money laundering and terrorism financing risks. Highlights […]
31
Jan
2020
Myanmar Approved FDI for 2019 in Power Sector: All Projects Selected VDB Loi as Advisor (VDB Loi Insights)
HIGHLIGHT OF THIS MONTH Myanmar Approved FDI for 2019 in Power Sector: All Projects Selected VDB Loi as Advisor From our Energy and Infrastructure Team – Myanmar Office We are very proud to hear that our firm’s strong position in the Myanmarpower sector was once again underscored by the financial reports of the Myanmar Investment […]
30
Jan
2020
Yangon Elevated Expressway Project
VDB Loi has been assisting as local legal counsel to the International Finance Corporation (“IFC”), acting in its capacity as lead transaction adviser to the Ministry of Construction of the Government of Myanmar on the Yangon Elevated Expressway Project Phase 1, which is the first-ever international road Public Private Partnership (“PPP”) in Myanmar. VDB Loi […]
22
Jan
2020
Central Bank of Myanmar updates and clarifies criteria for offshore loans
The Central Bank of Myanmar (“CBM”) has recently made changes to the offshore loan criteria that it has published on its website (see https://www.cbm.gov.mm/content/2066). Clearer wording has been added in terms of the differences in requirements for companies holding permits from the Myanmar Investment Commission (“MIC”) and non-MIC companies. Further updates have been made to […]
2
Jan
2020
Myanmar Trademark Alert: Register Your Trademark as Soon as Possible
After almost one year of enactment of the Myanmar Trademark Law 2019 (for our previous article about the law, please see here, the Ministry of Commerce (“MOC”) has brought implementation of the law on schedule. A draft regulation of the Trademark Law has been circulated for comments, and the MOC is testing the new on-line filing systems for trademark registration. In light of the recent meetings […]
4
Dec
2019
Myanmar Tax Booklet 2019-2020
On 28 May 2019, the Internal Revenue Department (“IRD”) of the Ministry of Planning and Finance (“MOPF”) announced a change to the income year (formerly from 1 April to 31 March) of private and cooperative sectors (“taxpayers”) to 1 October to 30 September, effective from 1 October 2019. Download here
30
Nov
2019
The Impact of the 2019 Construction Law on Property Development in Cambodia (VDB Loi Insights)
  INSIGHTS THIS MONTH NOVEMBER 2019   Highlight of This Month / In This Issue / Recent VDB Loi Work / Recent Publications HIGHLIGHT OF THIS MONTH The Impact of the 2019 Construction Law on Property Development in Cambodia by VDB Loi Cambodia Office In the wake of the tragic and fatal building collapse in […]
30
Nov
2019
Myanmar reduces Stamp Duty penalties
Stamp Duty (“SD”) is applicable on all chargeable instruments unless explicitly exempted under Schedule 1 of the Myanmar Stamp Act 1899 (“MSA”). Chargeable instruments mean documents that create, transfer, extinguish, or record rights or obligations and upon which governmental charges are collected in order to give legal effect thereto. Some commonly used chargeable instruments include […]
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