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Articles
17
Dec
2012
Myanmar’s Draft Law on Telecommunications: A Few Notable Issues for Foreign Investors
On the eve of the opening of Myanmar’s telecommunications market to foreign investors, the National Assembly will pass yet another milestone on the road to modernizing Myanmar’s legal framework for business and investment.
6
Dec
2012
Due Diligence for Mining Acquisitions in Myanmar: 5 Key Issues
With the easing of foreign sanctions in relation to Myanmar, foreign mining companies that were previously excluded from doing business there are focusing their attention on Asia’s last frontier. Whether for nickel, tin, iron, copper or gold, mining companies are looking into Myanmar with a healthy interest.
12
Nov
2012
Salient Details of Myanmars New Foreign Investment Law
A new Foreign Investment Law (“FIL”) has passed the Union Parliament of Myanmar (the “Parliament”), an important step in Myanmar’s economic liberalization. The FIL clears up many mysteries related to Myanmar’s investment environment.
5
Nov
2012
New 2012 Myanmar Foreign Investment Law now in force – full text English translation
Now available for download, the VDB Loi translation of the 2012 Myanmar Foreign Investment Law (Law nr. 21 of 2012 dated 3 November 2012), which our lawyers and translators have prepared over the weekend since the text was signed into law by the Union President on Saturday.
22
Oct
2012
European Union Moves towards Reinstating Trade Preferences for Myanmar
The European Commission (“EC”) has adopted a proposal to reinstate Myanmar as a beneficiary nation of the Generalised System of Preferences (“GSP”). The GSP is used by the European Union (“EU”) to assist developing countries in the area of trade.
11
Sep
2012
How Will Myanmar’s 2012 Foreign Investment Law Affect New Oil and Gas Production Sharing Contracts?
This Analysis includes the following points: Myanmar’s new Foreign Investment Law (FIL) has passed the National Assembly, Typically, PSCs will refer to the FIL, The new FIL has a tax holiday of 5 years, compared to 3 years in the old FIL, Depending on language in PSC and side-letter, the new FIL may apply to existing PSCs, Loss carry forward remains a point of attention
28
Aug
2012
Myanmar Introduces Tax Credit for Importation and Distribution of Gasoline and Diesel
A new notification by the Ministry of Finance and Revenue has made it possible for importers and distributors of gasoline and diesel to credit the Commercial Tax that is due on import and resale. Importation of most petroleum products is subject to, among other taxes, a 10% Commercial Tax. Domestic trading of petroleum products is taxed at 5%.
19
Aug
2012
Questions on the Myanmar Taxation of Oilfield Services under Its Double Taxation Agreements with Malaysia, Singapore and Thailand
This Analysis includes the following points: Myanmar’s domestic taxation of oilfield service providers Do oilfield services trigger a PE under DTAs in general? PE issues under Myanmar’s DTAs with Malaysia, Singapore and Thailand Withholding tax for oilfield services under Myanmar’s DTAs with Malaysia, Singapore and Thailand
19
Aug
2012
Salient Tax Features of Production Sharing Contracts in Myanmar
This Analysis includes the following points: What are the key tax points of PSCs in Myanmar? Which taxes are due when acquiring or divesting an oil & gas interest? What are the tax implications of cost recovery, royalty, training fee, bonuses? How do Myanmar’s DTAs apply to gains on oil & gas interests?
15
Aug
2012
Myanmar’s taxation of non-residents on the eve of its big leap in FDI
The lifting of US sanctions on general investment in Myanmar is one of the key indications that this Southeast Asian frontier market is poised for a big leap in terms of FDI. Myanmar, the second-largest Southeast Asian country after Indonesia, is rich in natural resources and has a population of around 60 million people, which is comparable to that of Thailand.
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