On 25 May 2022, DFDL Myanmar and Euracific Strategies were the co-hosts of an exclusive seminar for International Non-Governmental Organizations (“INGOs”) on how Myanmar’s current economic and political climate has affected legal and tax requirements situation for both existing INGOs and the INGOs looking to establish their offices in Myanmar. The seminar also captured discourse on liquidity issues and possible payment solutions.
The workshop, which was held at the DFDL Myanmar office in Yangon, began with an insightful presentation by Nishant Choudhary (DFDL Partner, Myanmar Managing Director), Nay Nay Eaint (DFDL Tax Manager), and Mar Mar Aung (DFDL Legal Adviser). The DFDL experts explained the legal and tax requirements that are required to establish an INGO in compliance with the laws of Myanmar and the recent tax development and its impact on INGOs.
Nishant and Mar Mar shared practical guidelines on Memorandums of Understanding (“MOUs”) and discussed the advantages of a range of options. They also factored the possible forms of entities that INGOs can opt for. Nay Nay went through the main tax considerations that INGOS must follow to stay compliant with Myanmar’s current framework.
The seminar continued with a discussion of liquidity payment solutions by Raphaël Goué (Euracific Strategies General Manager) and Jerome Sterckx (Euracific Partner). In their overview for the 20 INGOs in attendance, the experts spoke about important cash management solutions and shared client case studies.
The DFDL-Euracific workshop, which was organized as an information session for the INGO community, was well received by attendees.