Update
9
Nov
2019
New round of foreign bank licensing in Myanmar
On 7 November 2019 the Central Bank of Myanmar issued announcement confirming that a third round of foreign bank licensing will be initiated and opened to foreign banks with representative offices in Myanmar (the “Announcement”). Pursuant to the Announcement, foreign banks will be able to apply either for a branch or for a subsidiary license, […]
31
Oct
2019
Can you sue a dissolved company?
When a company has dissolved, it essentially means that the company has ceased to exist, and thus cannot sue or be sued. The question then becomes, how can a party pursue a claim against a dissolved company? Highlights of this note How can a party pursue a claim against a dissolved company? How to restore […]
30
Sep
2019
Myanmar Arbitration Update (VDB Loi Insights)
  INSIGHTS THIS MONTH SEPTEMBER 2019   Highlight of This Month / In This Issue / Recent VDB Loi Work / New Myanmar Laws and Regualtions / Recent Publications HIGHLIGHT OF THIS MONTH Myanmar Arbitration Update From our Disputes Team – Myanmar Office On 26 September 2019, VDB Loi held a successful live webinar event […]
30
Sep
2019
Union Tax Law 2019: Everything you need to know about amnesty, exemptions and significant changes
The Union Taw Law (“UTL”) 2019 was enacted on 24 September 2019 by the Union Parliament (the Pyidaungsu Hluttaw) and will be applicable for the Financial Year (“FY”) 2019-2020 (1 October 2019 to 30 September 2020). With the new income year commencing on 1 October 2019 and the Tax Administration Law (“TAL”) coming into force, […]
30
Sep
2019
Myanmar Arbitration Update
Highlights of this note Arbitration in Myanmar – recent developments Are parties free to choose for foreign arbitration under Myanmar law? How to invoke an arbitration clause in Myanmar and apply for a stay of court proceedings under the Myanmar Arbitration Law Does the subject matter of the dispute fall within the scope of the […]
27
Sep
2019
လျှပ်စစ်စွမ်းအင်ကဏ္ဍနှင့် အခြေခံအဆောက်အအုံများအတွက် နိုင်ငံခြားရင်းနှီးမြှုပ်နှံမှု အလုံးအရင်းဖြင့် ဝင်လာအောင် မည်သို့ဖိတ်ခေါ်မလဲ။ အောက်ပါအချက် ၅ ချက်ကို လိုက်နာဆောင်ရွက်ပါ။
လျှပ်စစ်စွမ်းအင်မရှိဘဲ မည်သည့်အလုပ်ကိုမျှ လုပ်ကိုင်၍ မရပါ။ လမ်း၊ ဆိပ်ကမ်းနှင့် မီးရထား သံလမ်းများ မရှိဘဲ မည်သည့် နေရာကိုမျှ သွား၍ မရပါ။ လျှပ်စစ်စွမ်းအင် အပါအဝင် အခြေခံ အဆောက်အအုံများသည် မြန်မာ နိုင်ငံ၏ စီးပွားရေး အလားအလာကောင်းများ နှင့် အများပြည်သူတို့၏ အကျိုးစီးပွားကို လမ်းဖွင့်ပေးမည့် သော့ချက်ဖြစ်သည်။ ကောက်နှုတ်ချက် ၁။ ယခုချက်ချင်းပင် အသေးစား စီမံကိန်းများကို အလျင်အမြန် ပြီးမြောက်အောင် ဆောင်ရွက်၍ မြန်မာနိုင်ငံ၏ ဂုဏ်သတင်းကို ပိုမို ကောင်းမွန်အောင် ဆောင်ရွက် ရန် လိုပါသည်။ ၂။ အစိုးရအနေဖြင့် စာချုပ်ပါ ဝတ္တရား များကို ဖော်ဆောင်ပြီး မိမိပေး ဆောင်ရမည့် အဖိုးအခ များကို ပေးဆောင်မည်ဖြစ်ကြောင်း နိုင်ငံခြား ရင်းနှီးမြှုပ်နှံသူများကို အာမခံရန် […]
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) […]
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 […]
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 […]
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