Myanmar Legal & Tax Updates

The Republic of the Union of Myanmar intends to promote foreign investments in the electric vehicle sector in Myanmar by means of a mix of legal and policy initiatives aimed at incentivizing such investments.   For the purpose of this article we have considered the year 2022 as the most critical year for legal regulations...

Enforcement date and the upcoming rules On 10 March 2023, the State Administration Council (“SAC”) made effective the Trademark Law (“TL”). The Notification No. 82/2023 provides 1st April 2023 as the effective date for the TL to come into effect. Prior to the abovementioned announcement, the Intellectual Property Department (“IPD”) under the Ministry of Commerce...

The Ministry of Immigration and Population of the Republic of the Union of Myanmar has issued a notice that updates the application process to extend eBusiness Visas for foreigners working for companies or engaging in business in Myanmar. All such applications must be submitted in the name of a company that is duly incorporated and...

On 20 December 2022, the Department of Consumer Affairs (“DOCA”) issued a directive which established guidelines for the “recalling and the permanent/temporary ban on the sales and distribution of perilous goods and services” (“Directive”). The Directive provides DOCA with a process for recalling perilous goods and services – hereby referred to as “products” – and...

On 30 December 2022, the Central Bank of Myanmar issued letter No. FE-1/2861(Ka) concerning the Foreign Exchange Supervisory Committee Meeting Resolution No. (78/2022). The most pressing issue faced by foreign companies in Myanmar was resolved by the decisions made in paragraphs 1(d) of the meeting resolution no. 78/2022. Meeting resolution Paragraph 1 (d) states that...

On 17 November 2022, the State Administration Council (“SAC”) enacted the Law Amending the 2022 Union Tax Law (“2022 UTL Amendment”). This law provides tax exemptions for Battery Electric Vehicles (“BEVs”) and increases the corporate income tax rate of companies engaged in the oil and gas exploration and production sector in Myanmar. We highlight below...

On 16 November 2022, the Internal Revenue Department (“IRD”) issued Public Ruling 3/2022, which clarifies how the tax authorities will interpret tax avoidance, underpayment, false or misleading tax information, and tax evasion as provided under Myanmar’s Tax Administration Law (“TAL”). This Public Ruling will take effect on 1 January 2023. A summary of the Public...

The global Financial Action Task Force (“FATF”) on 21 October 2022 placed Myanmar in the category of “High-Risk Jurisdictions Subject to a Call for Action,” commonly referred to as the “blacklist,” due to its failure to implement its action plan that expired in September 2021.   The international watchdog has called upon its members and...

On 28 October 2022, the State Administration Council (“SAC”) enacted the Organization Registration Law (“ORL”) via Notification No.46/2022 as per the Section 419 of the Constitution of the Republic of the Union of Myanmar  The ORL will repeal the former Association Registration Law 2014 (“ARL”) enacted through the Pyidaungsu Hluttaw Law No. 31/2014 that was...

Companies operating in Myanmar have been deeply affected by the present economic downturn due to several factors, ranging from pandemic to political. The economic downturn has led many companies in Myanmar to consider possible restructuring options. DFDL Myanmar has helped many companies navigate the economic downturn, whether through the M&A process, suspending/hibernating (including mothballing) operations...