On 10th September 2019, the Ministry of Agriculture, Livestock and Irrigation (“MOALI”) issued its Notification No. 299/2019 called Deeds Registration Rules (“DRR”) under the Deeds Registration Law 2018 (“DRL”) to set out the procedures for registration of deeds in Myanmar. The major provisions of the DRR include: – 1. For a deed executed abroad, the… Read More
Old System and Trademark Law 2019 Before 2019, protection and enforcement of trademarks in Myanmar were possible under the “old system” based mainly on the Specific Relief Act 1877, the Law of Torts 1855, the Penal Code 1860, the Civil Procedure Code 1908, the Registration Act 1908 and the Deeds Registration Law 2018. The first-to-use… Read More
The Union Parliament of Myanmar passed Tax Administration Law (“TAL”) on 7th June 2019 as a Pyidaungsu Htuttaw Law No. 20/2019. It was signed by the President of Myanmar on the same day. It will enter into force on 1st October 2019. The TAL is one of the most significant tax legislations. It aims to… Read More
On 5th June 2019, the Microfinance Business Supervisory Committee (“MBSC”) issued the Directive No. 1/2019 on new interest rates for microfinance institutions operating in Myanmar, which will enter into force on 1st October 2019. The new interest rates are as follows:- 2.3% per month but not more than 28% per annum for microfinance loans calculated… Read More
On 4th June 2019, the Ministry of Commerce (“MOC”) issued the Notification No. 24/2019 (“Notification”) to allow foreign companies and joint venture companies to export 7 categories of local products subject to recommendations of the relevant authorities and/or other requirements listed below. The MOC may adjust the categories of the products depending on the local… Read More
On 24 May 2019, the Union Parliament of Myanmar passed the Copyright Law (Law No. 15/2019) (“CRL”). It will come into force after the President of Myanmar issues a notification to that effect. It repeals and replaces the Copyright Act 1914 and establishes a new copyright protection system with the following major principles:- 1. … Read More