On 12th October 2021, the Central Bank of Myanmar (“CBM”) issued its Directive No. 16/2021 to allow local foreign exchanges of the Chinese Yuan and Japanese Yen. The authorized dealer banks and the authorized non-financial Institutions are now allowed to exchange Chinese Yuan and Japanese Yen in addition to US Dollar, Euro, Pound, Singapore Dollar,… Read More
On 1st October 2021, the Ministry of Planning and Finance (“MOPF”) issued its Notification No. 510/2021 on procedures for assessments of specific goods tax (“SGT”), commercial tax (“CT”), personal income tax (“PIT”), corporate income tax (“CIT”) and capital gains tax (“CGT”) for the transitional period of six months from 1st October 2021 to 31st March… Read More
On 30th September 2021, the State Administration Council (“SAC”) issued the State Administration Council Law No. 21/2021 as the new Union Tax Law effective from 1st October 2021. The UTL changes the rates of the personal income tax, the corporate income tax, the tax on income from undisclosed sources, and the specific goods tax. 1. … Read More
Foreign investors can set up legal entities and business units in Thailand to do foreign direct investments in Thailand. Private Limited Company Foreign investors can register a private limited liability company with the Ministry of Commerce (MOC). The company must have at least three promoters, three shareholders and one authorized director. The promoters must be… Read More
On 25th October 2021, the Cabinet approved in principle the draft of the Royal Decree on Supervision of Digital Platform Services Required to be Notified (“DPRD”) to be enacted under the Electronic Transactions Act B.E. 2544 (A.D. 2001) to provide protection to consumers and digital platform users, enhance the credibility of digital platforms, and maintain… Read More
On 1st September 2021, the Myanmar Investment Commission (“MIC”) issued its Newsletter No. 28/2021 on the plans for the recovery of burned and damaged industries in Yangon during the political unrests in March 2021. The MIC grants the opportunities and provides support to business operators to re-operate their businesses suffered from the political unrests in… Read More