Update
15
Jan
2019
MYANMAR OPENS UP INSURANCE SECTOR TO FOREIGN INVESTORS
In another exciting development in the Myanmar financial regulatory landscape, foreign life and non-life insurers can form joint ventures with local life and non-life insurers respectively. In addition, up to 3 (three) licenses will be granted to foreign life insurers to operate as wholly-owned subsidiaries. Therefore, foreign insurers will now play a much more active […]
30
Nov
2018
PFI: “Myanmar Reforms Sparks Major Projects Pipeline” (VDB Loi Insights)
Energy and Infrastructure Team PFI: “Myanmar Reforms Sparks Major Projects Pipeline” Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects.
30
Nov
2018
PFI: “Myanmar Reforms Sparks Major Projects Pipeline”
Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects.
28
Nov
2018
Online registration of mortgages and charges becomes operational on MyCO
As of late last week, online registration of mortgages and charges on the new electronic companies’ registry system, Myanmar Companies Online (“MyCO”) has become operational. This is achieved using the prescribed ‘Form H’ to comply with the statutory requirements under Section 229 of the Myanmar Companies Law 2017 (“MCL”), whereby Myanmar companies are required to […]
27
Nov
2018
Commercial Tax Payment and Offset Timings
COMMERCIAL TAX PAYMENT AND OFFSET TIMINGS The Internal Revenue Department (“IRD”) has issued clarifications regarding Commercial Tax (“CT”) payment and offset timings. Clarification 2/2018 provides an explanation regarding CT payment timelines. CT charged to customers (“output CT”) is due the earlier of issuing invoice to customers or receiving payments. For example, if an invoice is […]
31
Oct
2018
Energy and Infrastructure Market: Our Latest Insights (VDB Loi Insights)
      HIGHLIGHT OF THIS MONTH From our Energy and Infrastructure Team Energy and Infrastructure Market: Our Latest Insights Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects. Many of these reforms, although they are crucial, are not widely […]
31
Oct
2018
Parliament to pass new law affecting upstream oil & gas sector
Parliament is currently debating a bill on petroleum exploration, drilling, and production, which is intended to apply to both offshore and onshore activities. The law will mainly repeal outdated regulations from the 1950s and intends to serve as a way of organizing the sector. The bill follows the long-awaited Mining Rules issued in February 2018 […]
30
Sep
2018
How the New Companies Law Affects Group Financing Transactions
Myanmar Companies Law 2017 (“MCL”) has introduced a special corporate approval procedure for “related party transactions” into the Myanmar legal system. While such type of transactions are often subject to particular scrutiny under corporate governance laws in many jurisdictions, there are a number of peculiarities to be followed under the MCL, and they are summarised […]
27
Sep
2018
ミャンマー、LNG発電所急ぐ
日本経済新聞9月21日朝刊に「ミャンマー、LNG発電所急ぐ –電力不足解消へ窮余の策」のタイトルでミャンマー電力事情の紹介記事が掲載されました。VDB-Loi エドウィンのコメントが紹介されました。
27
Sep
2018
Are you Myanmar Companies Law compliant?
The recently effective Myanmar Companies Law (the “MCL”) brings about groundbreaking changes to the corporate landscape in Myanmar, as it modernizes the rules related to entities (companies, branches and representative offices) conducting business in Myanmar. Despite the changes companies still need to act so they can reap the benefits of the new measures. In this […]
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