On 5th December 2018, the Directorate of Investment and Company Administration (“DICA”) issued its Announcement to encourage companies in Myanmar to adopt the international auditing standards as previously issued as notification by the Myanmar Accountancy Council on 4th July 2018 under its Notification No. 20/2018. The said notification requires public accountants to comply with the… Read More
The Myanmar’s Trademark Law (“TML”) was finally passed by the Union Parliament of Myanmar (PyidaungsuHtuttaw) on 24thJanuary 2019. The TML has been sent to the President for his approval and signature before it becomes effective on the day of its publication in the official gazette. Once the TML comes into force, it will establish a… Read More
On 9th August 2018, the Trade Department of the Ministry of Commerce (“MOC”) issued its Newsletter No. 6/2018 on Amendment of Importer and Exporter Registration (“IE Registration”) Procedures to govern new registration, renewal, amendment and obtaining certified registration certificate for import and export of goods under the Exporter and Importer Registration Order 1954 issued under… Read More
On 20th September 2018, the Ministry of Planning and Finance issued its Notification No. 76/2018 (“Notification”) to amend the Myanmar Investment Rules 2017 (“MIR”). The major amendments include:- 1. An investment strategically important to Myanmar must obtain a Myanmar Investment Commission Permit (“MIC Permit”) if its investment value exceeds USD20 million and if it… Read More
On 3rd August 2018, the Directorate of Investment and Company Administration (“DICA”) issued the Announcement on Anti-Corruption Code of Ethics (“ACCE”) for entering into business deals with the government authorities and other companies and organizations in the private sector in order to develop the entire economic environment. All companies and corporations established under the existing… Read More
On 26th July 2018, the Ministry of Commerce (“MOC”) issued the Newsletter No. 2/2018 on the Standard Operation Procedure (“SOP”) for 100% foreign owned companies (“FOC”), joint venture companies between Myanmar nationals and foreigners (“JVC”) and Myanmar local companies (“MLC”) to set out the framework for obtaining a license for wholesale business (“WSL”) and/or a… Read More