1. The Union Government established the Central Committee of Intellectual Property (“CCIP”) on 6th March 2020. The CCIP is in charge of creating policies, strategies and projects related to IP rights and supervising and directing their implementations, coordinating with local and international organizations in relation to intellectual property matters, and carrying out other functions and… Read More
On 17th November 2022, the State Administration Council Law No. 48/2022 was issued to amend the Union Tax Law 2022 (“UTL”) in relation to the exemption of the Commercial Tax (“CT”) and Specific Goods Tax (“SGT”) for battery electric vehicles (“BEV”) and prescribe the Corporate Income Tax (“CIT”) rate for association of persons (“AOP”) which… Read More
On 31st October 2022, the Ministry of Commerce (“MOC”) issued the Newsletter No. 10/2022 in relation to settlement of payments for cross-border trading in order to strengthen compliance with the report of the Financial Action Task Force (“FATF”) effective from 1st November 2022. All payments received in a foreign currency from a cross-border trade or… Read More
On 14th September 2022, the Directorate of Investment and Company Administration (“DICA”) issued the announcement to set out the requirements for extension of visa for foreign employees. The employer company must an application for a recommendation letter from DICA for visa extension for each foreign employee. The company employer must have been registered for at… Read More
On 2nd July 2022 and 14th July 2022, the Ministry of Commerce (“MOC”) released the Letter No. Ka Ba Ya (Ma Sha) Pa Ka 2022-2023 (0199) and the Letter No. Ka Tha Ra (Mar Ta) Management/2022-2023 (0515) to prescribe the requirements for issuance of export license for export of rice, pulses, corn, various types of… Read More
On 13th July 2022, the Central Bank of Myanmar (“CBM”) issued the Letter No. FE-1/739 to cancel the exemption of the compulsory foreign currency conversion for companies registered with the Directorate of Investment and Company Administration (DICA) with 10% or more of foreign ownership (“Foreign Companies”). The CBM also issued the Letter No. FE-1/754 on… Read More