On 28th August 2020, the Ministry of Commerce of Myanmar (“MOC”) issued Order No. 63/2020 to announce the Soft Opening Period (“SOP”) starting from 1st October 2020 for owners of registered trademarks to refile their trademarks under the Myanmar Trademark Law 2019 (“MTL2019”). As of 31st December 2020, around 26,000 registered marks have been refiled.  They were refiled via... Read More

On 28th October 2020, the Ministry of Commerce issued its Newsletter No. 18/2020 on the amendment of the trade service fees for online licensing through Tradenet 2.0, which came into force on 1st November 2020. In order to enable online licensing and related activities, Myanmar Tradenet 2.0 is in place to support the national single... Read More

On 19th November 2020, Internal Revenue Department (“IRD”) issued its notice to alert to the taxpayers to file the annual return on income tax, the salary statement and the commercial tax during the prescribed financial year. 1.   The relevant period for preparing the annual tax return is the previous financial year from 1st October 2019... Read More

On 20th October 2020, the Directorate of Investment and Company Administration (“DICA”) issued its Notification No. 92/2020 to rule that the stay period of resident directors of companies registered under the Myanmar Companies Law (“MCL”) will not include the Covid-19 lockdown period. Pursuant to Section 4 Sub-section (a) (v) of the MCL, a company must... Read More

On 14th October 2020, the Directorate of Investment and Company Administration (“DICA”) issued its Notification No. 90/2020 to specify the qualifications of independent directors (“ID”) of listed and non-listed public limited companies (“PLC”) registered under the Myanmar Companies Law for good corporate governance. According to this Notification, the major qualifications of the ID are: • ... Read More