Articles
30
Aug
2019
Myanmar Passes New Law for Land Acquisition, Resettlement and Rehabilitation
On 19 August 2019, the Union Parliament of Myanmar, Pyidaungsu Hluttaw, enacted Land Acquisition, Resettlement and Rehabilitation Law (Pyidaungsu Hluttaw Law No. 24/2019) to replace the colonial-era Land Acquisition Act (1894) as well as to provide a legal framework for resettlement and rehabilitation for the first time in Myanmar. Highlights of this note Overview What’s […]
27
Aug
2019
MoPF announcement on life and non-life insurance JV
Following previous announcements by the Ministry of Planning and Finance (“MoPF”), foreign life and non-life insurance companies can now form joint ventures with local insurance companies. In light of the recent developments, VDB Loi has been engaged by applicants in the application process. On 31 July 2019, the MoPF by way of Announcement No. (3/2019) […]
31
Jul
2019
How to Create a Tidal Wave of Foreign Investment in Electricity and Infrastructure? By These 5 Steps. (VDB Loi Insights)
  INSIGHTS THIS MONTH JULY 2019   Highlight of This Month / In This Issue / Recent VDB Loi Work / New Myanmar Laws and Regualtions / Upcoming Events / Recent Publications HIGHLIGHT OF THIS MONTH How to Create a Tidal Wave of Foreign Investment in Electricity and Infrastructure? By These 5 Steps. From our […]
24
Jun
2019
MBSC’s directive on interest rates on micro-credits and savings
On 5 June 2019, the Microfinance Business Supervisory Committee issued Directive 1/2019 (the “Directive”) which revises the interest rates applicable to micro-credits and savings of the members.New rates of interest The Directive introduces an interest rate of 28% on micro-credit (the “New Rate”) and provides illustrations with regard to calculating the effective rate of interest […]
5
Jun
2019
Myanmar Tax Booklet 2019
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
31
May
2019
Change of the Income Year in Myanmar: What Do Companies Need to be Aware of?
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. As a result, the taxpayers will have a […]
30
May
2019
10 Frequently Asked Questions about the Myanmar Industrial Design Rights Law 2019
As we mentioned in our previous article on the Myanmar Trademark Law 2019 [10 Frequently Asked Questions About the Myanmar Trademark Law 2019], the Myanmar Industrial Design Rights Law 2019 (the “Industrial Design Law”) was passed at the same time. Highlights of this note What kind of industrial design is registrable? Can I sell the […]
28
May
2019
Myanmar Power Barges: Legal and Tax Issues
Lack of electricity generation and the growing demand in power supply have led the government of Myanmar to resort to short-term power rental projects to feed electricity into the grid as early as 2014 when the government awarded a number of power rental projects to companies such as Aggreko and APR Energy. Highlights of this […]
8
May
2019
Central Bank of Myanmar provides a warning against the risks of transactions with cryptocurrencies
The Central Bank of Myanmar (the “CBM”), by an announcement on 3 May 2019, noted that it does not recognize digital currencies as legal tender in Myanmar (the “Announcement”). The CBM further stated that any persons that engage in transactions involving digital currencies act at their own risk.  The Announcement, which is cautionary in nature, […]
30
Apr
2019
VDB Loi Insights
  INSIGHTS THIS MONTH APRIL 2019   Highlight of This Month / In This Issue / Recent VDB Loi Work / New Myanmar Laws and Regualtions / Upcoming Events / Recent Publications HIGHLIGHT OF THIS MONTH   2019 edition of the Project Finance Market Intelligence publication by Getting the Deal Through, Southeast Asia   As […]
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