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31
Oct
2018
New labor law rules
The Ministry of Labour, Immigration and Population published the Leave and Holidays Rules (Notification 69/2018) and the Shops and Establishment Rules (Notification 68/2018) (the “Rules”) which implement the relevant laws. The Rules provide new forms for use by employers in lodgments to labor offices, and clarify entitlements relating to days off, public holidays, leave and […]
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 The law will mainly repeal outdated regulations from the 1950s and intends to serve as a way of organizing the sector.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 is the Companies Law Affecting Group Financing? (VDB Loi Insights)
      HIGHLIGHT OF THIS MONTH From our Banking and Finance Team 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 […]
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 […]
27
Sep
2018
Ministry appoints Condominium Registrars to implement Condo Law
For the first time, the Myanmar government is to open new registration offices and assign registrars for condominiums.  This is an important sign that the government is serious about reforming the property market, with both Myanmar people and foreigners now able to obtain an ownership title of units registered as condominiums. The Condominium Law and […]
19
Sep
2018
Tax Notes: Draft Union Tax Law 2018–2019
Authors: Jean Loi, Ngwe Lin Myat Chit Due to the change in financial year, the end of the six-month gap period is approaching and the Union Parliament (“Pyidaungsu Hluttaw”) has announced a draft Union Tax Law 2018–2019 (“Draft UTL”) which will be effective from 1 October 2018. A few interesting points from the Draft UTL […]
14
Sep
2018
Fintech in Myanmar: Telecommunications, Media and Technology Myanmar Update 2018
Although the term “currency” is not directly defined under any modern Myanmar statute or regulation, terms such as “foreign currency”, “token”, “e-money”, and “payment instrument” are defined.
14
Sep
2018
Banking and Finance Myanmar Update 2018
In July 2017 the Central Bank of Myanmar (“CBM”) introduced a fresh set of four regulations (Notifications 16-19/2017 pertaining to capital adequacy, asset classification and provisioning, large exposures and liquidity ratio requirement respectively).
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