Category: Legal Box

New Gambling Law passed by Pyidaungsu Hluttaw

The Pyidaungsu Hluttaw recently passed a new Gambling Law (Pyidaungsu Hluttaw Law No.13/2019) on 7th May, 2019 (the “Law”), replacing the previous Gambling Law, 1986.As understood, the Law was drafted during 2017, on the premise of request receiv

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Myanmar Patent Law passed

Continuing the dictum of revamping the intellectual property regulations in Myanmar, on 11 March 2019, the Patent Law was passed by the Myanmar Parliament (Pyidaungsu Hluttaw Law No.7/2019). This announcement comes in almost about one and half month

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Notification towards accounting period for the medium taxpayers

On 8th January 2019, The Financial Institution Supervision Department (“FISD”) under the Central Bank of Myanmar (“CBM”) via Letter No.16(6)/Ou/sa-1/patakha/ 2019(158) notified to all the financial companies, representative offices of foreign

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Central Bank of Myanmar revisits the lending rates

Pursuant to the terms of the Central Bank of Myanmar law, on 15 January, 2019, Central Bank of Myanmar (CBM) issued a Directive no. 1/2019 (“Directive”) in respect of the amendment of lending rates. The amendment as set out in the Directive shall

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Corporates to adapt international auditing standards

The Directorate of Investment and Company Administration (“DICA”) made an announcement on 05 December, 2018 (the “Announcement”) in connection with adherence of international accounting standards by public accountants by the corporates. The A

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New Myanmar Tourism Law: An effort towards development of accountable and sustainable tourism in Myanmar

The Myanmar Parliament recently promulgated the new Myanmar Tourism Law (“MTL”) on 17 September 2018, which replaces the old Myanmar Hotel and Tourism Law that was enacted by State Law and Order Restoration Council. The key spirit of this new MTL

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