On 3rd January 2020, the Directorate of Investment and Company Administration (“DICA”) issued its Notification No. 2/2020 re: Guidance on Approval Requirements for Payment of Remuneration and Other Benefits to Directors and Related Parties (“Notification”). Pursuant to Sections 187 and 188 of the Myanmar Companies Law 2017 (“MCL”), the Board of Directors (“BOD”) or the... Read More

On 27th January 2020, the Internal Revenue Department (“IRD”) issued its public ruling (“PR”) related to tax assessments, fines, criminal actions and applicable penalties for failures to pay relevant taxes during the transitional period under the Tax Administration Law 2019 (“TAL”), which became effective retroactively since 1st October 2019. According to the PR, the IRD... Read More

On 29th January 2020, the Directorate of Investment and Company Administration (“DICA”) issued its Announcement on striking off companies from the Companies Register due to their failures to file their Annual Returns (AR-Form) with DICA. Companies registered in Myanmar through the Myanmar Companies Online (“MyCO”) system are recommended to check their company statuses in the... Read More