On 14th July 2023, the Ministry of Planning and Finance (MOPF) issued its Notification No. 50/2023 on Customs Rules (CR) for Protection of Trademark Rights Pursuant to Section 106 (c) of the Myanmar Trademark Law 2019 (MTL 2019). The CR consists of 3 major parts: (1) recordal of registered trademarks with the Customs Department (CD);… 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 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
On 29th June 2022, the Central Bank of Myanmar (“CBM”) issued the Letter No. FE-1/643 for exemption of the foreign currency conversion requirements under the CBM Notification No. 12/2022 to exclude the following entities from the foreign currency conversion requirement: Representative Office of Woori Bank; Special Economic Zone Management Committees and their subordinated companies, such… Read More
This is an update on the law and the practice of Myanmar in relation to registration of new trademarks and re-filing / re-registration of registered trademarks and used trademarks as of 29th March 2022. New Trademark Registration under the Old Law The owner of a new trademark can register the trademark with the Office for… Read More