On 3rd January 2020, the Directorate of Investment and Company Administration (“DICA”) issued its Notification No. 2/2020 re: Guidance on Approval Requirements for Payment of Remuneration and Other Benefits to Directors and Related Parties (“Notification”). Pursuant to Sections 187 and 188 of the Myanmar Companies Law 2017 (“MCL”), the Board of Directors (“BOD”) or the... Read More

On 27th January 2020, the Internal Revenue Department (“IRD”) issued its public ruling (“PR”) related to tax assessments, fines, criminal actions and applicable penalties for failures to pay relevant taxes during the transitional period under the Tax Administration Law 2019 (“TAL”), which became effective retroactively since 1st October 2019. According to the PR, the IRD... Read More

On 29th January 2020, the Directorate of Investment and Company Administration (“DICA”) issued its Announcement on striking off companies from the Companies Register due to their failures to file their Annual Returns (AR-Form) with DICA. Companies registered in Myanmar through the Myanmar Companies Online (“MyCO”) system are recommended to check their company statuses in the... Read More

Myanmar Trademark Law 2019 (“MTL”) The MTL establishes a new trademark registration system in line with international standards and practices which will come into force when the President of Myanmar publishes an announcement to that effect (expected within Q1 of 2020) replacing the current system of Declaration of Trademark Ownerships (“DTO”) registration and Cautionary Notices... Read More

On 13th November 2019, the Microfinance Supervisory Committee of the Ministry of Planning and Finance issued its Directive No. 2/2019 on Customer Due Diligence for Anti-Money Laundering and Combatting Financing of Terrorism (“Directive”) for microfinance institutions (“MFIs”) operating in Myanmar to comply.  The MFIs are required to conduct customer due diligence (“CDD”) and they are... Read More