Myanmar About to Launch Power Barge Tender (VDB Loi Insights)

31
May
2019

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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
 
VDB Loi named Myanmar Tax Firm of the Year at

International Tax Review

2019 Tax Awards

 

VDB Loi has received yet another award and is proud to be recognized as the Myanmar Tax Firm of the Year at the International Tax Review (ITR) 2019 Asia Tax Awards. Our Myanmar team is honored to be acknowledged along with various outstanding firms for excellence in providing tax advice to businesses in the region.

IN THIS ISSUE
Central Bank of Myanmar    
Myanmar Power Barges: Legal and Tax Issues
[From our Energy and Infrastructure Team] – Myanmar
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.
Trade Mark    
10 Frequently Asked Questions About the Myanmar Industrial Design Rights Law 201
[From our Telecom, Media and Technology Team] – Myanmar
As we mentioned in our previous article on the Myanmar Trademark Law 2019 the Myanmar Industrial Design Rights Law 2019 (the “Industrial Design Law”) was passed at the same time.
Factory    
Central Bank of Myanmar Provides a Warning Against the Risks of Transactions With Cryptocurrencies
[From our Banking and Finance Team] – Myanmar
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”).
Projects    
Change of the Income Year in Myanmar: What Do Companies Need to be Aware of?
[From our Taxation Team] – Myanmar
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.
Work Permit    
Special Client Alert: Tax Saving Opportunities
[From our Cambodia Office]
The Royal Government of Cambodia has been working hard to stimulate investment and economic growth. The General Department of Taxation (“GDT”) is playing an important role in this process and many new tax regulations and procedural changes have been introduced to improve transparency and eliminate disincentives to investment.
Work Permit    
Client Alert: Tax Treatment of Seniority Payments Clarified and VAT Exemption on Recruiting and Training Fees
[From our Cambodia Office]
On 11 April 2019, the Ministry of Economy and Finance issued Circular 003 to confirm the tax treatment of seniority payments introduced by a 2018 amendment to the Labor Law and the issuance of Prakas 443 in September 2018.
OUR UPCOMING EVENTS
 

RECENT VDB LOI WORK
Market entry expertise: We are providing legal and tax advice to a European renewable energy company on its market entry into Myanmar.

Tower acquisition: VDB Loi’s TMT team has been engaged by a leading regional telecommunications company to assist with all aspects of its tower acquisition deal.

Tax team breaks new ground: VDB Loi’s tax team is assisting a regional oil & gas company with its precedent-setting appeal to the Large Taxpayers’ Office.

New renewable energy projects: The Energy and Infrastructure team is advising a foreign player on the development of various wind power projects, including drafting of the power purchase agreement with the Electric Power Generation Enterprise. The team is also acting as local counsel for a consortium on the development of a reservoir hydropower project in northern Myanmar.

NEW MYANMAR LAWS AND REGULATIONS THIS MONTH
 
  • Bill on Industrial Zone Law
    (2/May/2019)
    Newly drafted to control the Industrial Zone Land permits
     
  • Bill on Law amending the Union Judiciary Law
    (24/April/2019)
    Mainly changed on the appointment of Judges by Chief Justice
     

RECENT PUBLICATIONS
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