Analysis
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 […]
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 […]
30
Apr
2019
Recent Directives by Central Bank of Myanmar
The Central Bank of Myanmar (the “CBM”) recently published several directives relating to corporate governance aspects of banks’ operation. Highlights of this note 1. Directive on Fit and Proper Criteria 2. Directive on Directors of Bank 3. Directive on Related Parties
12
Apr
2019
Celebrating Thingyan and Reflecting on a Successful Year With VDB Loi
With the recent celebration of our seventh anniversary as well as the upcoming Thingyan Festival in Myanmar, we at VDB Loi would like to thank you for your continued support. We are very pleased to share with you some of VDB Loi’s best moments and achievements over the past year. We are delighted to report […]
31
Mar
2019
Enactment of Specific Goods Tax regulations: more compliance requirements for producers?
Although the Specific Goods Tax Law (“SGT Law”) which imposes Specific Goods Tax (“SGT”) on certain goods in Myanmar was enacted back in January 2016, the Specific Goods Tax regulations (“SGT regulations”) which provide detailed compliance requirements were only recently enacted in January 2019. SGT is similar to excise tax in other countries and is […]
29
Mar
2019
10 Frequently Asked Questions About the Myanmar Trademark Law 2019
On 31 January 2019, the President of Myanmar signed and formally enacted the Industrial Design Rights Law (No:2/2019) and the Trademark Law (No.3/2019) (“Trademark Law”).
22
Mar
2019
Second chance to re-register your company before being struck off the registry
According to the recent Directorate of Investment and Company Administration (“DICA”) announcement issued on 8th March 2019, companies who missed the 31 January deadline now have until March 30 to re-register. However, any companies who fail to re-register by this new deadline will be struck off from the registry, and will not be able to […]
28
Feb
2019
How to Best Split a Myanmar Insurance Company in a Life and a Non-Life Corporate Entity?
Most of the insurance companies which Myanmar has licensed since the liberalization of the sector to the local, private sector in 2013 are actually composite insurance companies. Highlights of this note Life and Non-Life entities may not hold shares in each other Form one, not two new entities How to transfer the Life business to […]
21
Feb
2019
Project Bank Notification for PPP Projects
On 30 November 2018, the President’s Office issued a Notification on a publicly assessible database, the Project Bank, which will help to regulate Private Public Partnership (“PPP”) projects in Myanmar. The government hopes the Project Bank will enable greater transparency, facilitate cooperation between different government agencies, and strengthen fiscal policy on infrastructure. The primary purpose […]
21
Feb
2019
CLIENT ALERT: Myanmar: Are you prepared for this financial year end?
The 2018–19 financial year end is around the corner and all taxpayers have less than two months left for tax payments, tax returns, and possibly some tax planning. All taxpayers should now be in the process of planning their annual tax filings. Please be reminded that annual Corporate Income Tax (“CIT”), Commercial Tax (“CT”), and […]
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