South Korea’s Busan Bank to open office

South Korea’s Busan Bank has registered with the Directorate of Investment and Company Administration (DICA) to open a representative office in Myanmar, through DICA’s one-stop-shop service, according to the regulator’s website. Busan Bank, a subsidiary of Korean holding company BNK Financial Group, will join a number of other South Korean financial institutions in opening a […]

Myanmar Tax Department Says 2,500 Tax-Evading Firms Named in Error

YANGON — The Myanmar government’s tax department has admitted that it mistakenly named nearly 2,500 companies as tax evaders. The Internal Revenue Department (IRD) on March 6 published a list of 10,670 companies that it said had failed to pay taxes for the 2012-13 fiscal year, which ended in March 2013. The list included well […]