The Myanmar Investment Law 2016 (“MIL”) was enacted to replace the Foreign Investment Law 2012 and the Myanmar Citizens Investment Law 2013 on 18th October 2016. On 30th March 2017, the Ministry of Planning and Finance, therefore, published the Myanmar Investment Rules (“MIR”) under the Myanmar Investment Law 2016 (MIL) as Notification No.35/2017 for implementation… Read More
On 19th January 2017, the Telecommunication Department of the Ministry of Transport and Communication (“MOTC”) announced the updated list of Communication Service Licenses (“CSL”) issued in Myanmar under Telecommunication Law and Rules. As of 19th January 2017, there are 118 CSLs that have been issued to local and foreign companies:- The following 3 CSLs were… Read More
On 10th January 2017, the Internal Revenue Department (“IRD”) of the Ministry of Planning and Finance (“MPF”) announced the Notification No. 2/2017 to reduce the withholding tax rates for payments in Myanmar and abroad and replace the Notification No. 41/2010 and the Notification No. 167/2011 of the IRD. The new WHT rates will become effective… Read More
On 24th October 2016, the President Office of the Republic of the Union of Myanmar announced the formation of the Private Sector Development Committee (the “Committee”) pursuant to the Notification No. 79/2016 in order to implement the Private Sector Development Framework of the Private Sector Development Committee (the “Framework”) effectively. The Committee consists of 18… Read More
On 18th October 2016, the Myanmar Investment Law 2016 (“MIL”) was enacted to replace the Foreign Investment Law 2012 (Pyidaungsu Hluttaw Law No. 21, 2012) (“FIL”) and the Myanmar Citizens Investment Law 2013 (Pyidaungsu Hluttaw Law No. 18, 2013). The MIL will notably introduce a new form of investment approval, called MIC Endorsement, to speed… Read More
The Thilawa Special Economic Zone (“TSEZ”) is a 2,500 hectares industrial complex being developed in Kyauktan and Thanlyin Townships, 25 kilometers from Yangon under a joint venture between the governments of Myanmar and Japan and some other private investors. As of October 2016, more than US$800 million have been invested in the TSEZ. A total… Read More