Companies in Myanmar urged to pay taxes online

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..

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Competition watchdog rejects protests over solar tender

  Myanmar’s competition watchdog says it does not intend to challenge the government’s controversial solar plant tender despite protests by foreign governments and business associations that conditions imposed during the COVID-19 pandemic effectively excluded many outside bidders. Responding to questions from the Myanmar Times, the Competition Commission said the solar tender requirements set by the..

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DICA reduces registration fees for new companies

  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)..
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Myanmar foreign loans rise to US$10.2B in last fiscal year

    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..
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