Myanmar companies with a Taxpayer Identification Number (TIN) are urged to pay taxes using electronic payment systems made available online starting October 1, according to the internal Revenue Department (IRD). This is to facilitate ongoing efforts to control the spread of COVID-19 by avoiding mass gatherings in public places. Firms can now pay their taxes..

Myanmar is making official arrangements for foreign investors and key employees locked out of the country due to COVID-19 to return for business purposes. The country formally stopped all international commercial flights from landing since March 30, a week after the first cases of COVID-19 were detected. Officially, flights will remain suspended until July 31,..

  The Union Tax Law for fiscal 2020-21 will include provisions supportive of small and medium-size enterprises (SMEs) in Myanmar, including incentives aimed at reducing tax burdens as well as simplifying compliance procedures, Deputy Minister for Planning, Finance and Industry U Maung Maung Win said upon submission of the bill at the Pyidaungsu Hluttaw (Assembly..

  The Ministry of Commerce has announced that it will fully adopt online procedures for issuing import and export permits for more than 100 types of goods starting April 1, 2020, as part of efforts to implement social distancing to stop the spread of COVID-19 in Myanmar. “The move is being made with the aim..

  The Central Bank of Myanmar (CBM) slashed interest rates by an additional 1 percent today (March 24), taking total rate cuts to 1.5pc within the span of two weeks. Starting from April 1, bank deposit rates in Myanmar will be reduced a minimum of 6.5pc, while lending rates will not exceed 11.5pc for collateralised..

  In a fresh move to lure more firms to set up shop in Myanmar, fees to incorporate or register a new business in the country will be reduced to K150,000 from K250,000 from October 1, the first month of fiscal 2019-20.   The Directorate of Investment and Company Administration (DICA) yesterday issued Notification (84/2019)..

Nyan Zay Htet/The Myanmar Times   The Central Bank of Myanmar (CBM) is planning to take additional measures to further stabilise the foreign exchange market, vice governor U Soe Min said in Parliament on Monday.   The new measures may include it intervening in the foreign exchange market, the Myanmar Times understands. The move comes..

    Myanmar has accumulated US$10.2 billion in debt owed to more than 20 countries and multilateral organisations, the Joint Public Accounts Committee of the Pyidaungsu Hluttaw noted in a report on the Union budget for the 2017-18 fiscal year.   The committee said the Ministries of Home Affairs; Agriculture, Livestock and Irrigation; Transport and..

Lim Jock Hoi speaks at the 3rd ASEAN Media Forum in Bangkok on Monday. Photo - ASEAN Secretarit   All ASEAN members, including Myanmar, will be connected under the ASEAN Single Window (ASW) before the end of this year, officials of the regional body say.   The ASW’s objective is to expedite cargo clearance and promote..