• Home
  • About Us
    • Our Founder
    • Our Story
    • Myanmar Investment Seminar
    • Singapore Business Federation’s Networking Session in Yangon
    • Our Clients
  • Legal Update
    • Import office equipment and service related equipment
    • Setup 65%/35% JV Company
    • Private School Education Law
    • Approved Foreign Investment
    • Foreign banks
    • Corporate Tax
    • Personal Income Tax
    • Franchising
    • Trademark
    • Arbitration Law
    • Registration of Association or NGO
    • Restrictions on trading activities
      • Wholesale, Trading and Retail Sectors
    • Prioritized Investment Activities
    • Promoted Sectors under MIL
    • Development Zone for Tax Exemption under MIL
    • Restricted Investment Activities under MIL
  • Useful Info
    • Myanmar COVID19 Travel Restrictions
    • Public Holidays in Myanmar for 2021
    • Yangon Taxi
    • Tourist eVisa
    • 12 Types Myanmar Entry Visa
    • Restricted areas for foreigners and tourists in Myanmar
    • Foreign Banks with branches in Myanmar
    • Insurance Companies
    • Business Chambers and Associations in Myanmar
    • Myanmar Exhibtion Hall
  • Testimonials
    • EB5 Capital – Testimonial
    • Eletec Elevators – Testimonial
    • Avialite – Testimonial
    • Momoride – Testimonial
    • ProDVD – Testimonial
    • Mitosis – Testimonial
    • Echo Communications – Testimonial
    • C Square – Testimonial
    • OSI – Testimonial
    • ASIGWLL – Testimonial
    • EOS Group Management – Testimonial
    • Our Client List
  • Internship
  • Contact
  • 联系我们

Consult Myanmar

for fruitful investment in Myanmar

  • Business Opportunity
  • Business Visa
  • Company Registration
  • Business Association Registration
  • Myanmar Virtual Office
  • Myanmar Investment Commission
  • 65%/35% JV Company
  • Business Matching
  • Due Diligence
  • Low cost rental solution
  • More
You are here: Home / Latest News / Final warning to deposit export earnings in local accounts issued

Final warning to deposit export earnings in local accounts issued

May 29, 2019 by Thiha


The export-import registration certificates of 93 companies will be revoked and actions will follow if export earnings are not deposited back into local bank account within two weeks of the trade, the Ministry of Commerce (MOC) said in a final warning against the companies last week.

According to Foreign Exchange Management Law, all earnings in foreign currency received in the course of exports must be deposited in a local company bank account within six months after the goods are loaded and shipped.

However, the MOC said in March that it found 110 trading companies which failed to deposit the income earned despite having shipped goods overseas in 2016.

The companies had been asked to deposit their exports earnings within 60 days from March 19, the date the announcement issued, failing which their export-import registration certificates will be withdrawn.

Only 17 companies have complied, with the remaining having either deposited a portion of their export earnings or nothing at all as at May 20, the MOC said. The 93 companies have been identified by name.

“This is the final warning after which we would take action. If they don’t comply by June 5, we will take action,” U Khin Maung Lwin, deputy permanent secretary of the MOC, told The Myanmar Times.

Source: Myanmar Times

To see the original article click link here

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

 Opportunities from COVID19

.

Looking for foreign investors to invest in your business in Myanmar

Latest News

  • Invitation for Open Tender – Myanma Oil and Gas Enterprise ; Deadline : 22nd February 2021 January 22, 2021
  • Myanmar, China to conduct feasibility study on Mandalay-Kyaukphyu railway January 22, 2021
  • Completion of glass bridge near Goteik Viaduct expected in 2022 January 22, 2021
  • Coordination underway to conduct day trip flight between Yangon and Ngapali January 22, 2021
  • Myanmar sees trade deficit of over $230m in three months January 22, 2021
Filed Under: Latest News Tagged With: Export Earnings, export-import registration certificates, foreign currency, Foreign Exchange Management Law, local bank account, Ministry of Commerce (MOC)

Myanmar Union Day
Our office will be closed on Wed 12 Feb 2021 for Myanmar Union Day holiday.

COVID19 is seriously disrupting global business and supply chain. In this once in a lifetime chaos there are also opportunities as many market leaders have fallen. If you want to share your market opportunities with us and see how we can work together, click here and tell us.

NO FLIGHT AVAILABLE? We can setup your company in 1-day and open your bank account without you stepping foot in Myanmar during this difficult period.Click here to learn more.

COVID19 Travel Restrictions

To learn more about the latest Travel Restrictions affecting all travelers entering Myanmar due to the COVID19 Pandemic, click here

Debt Recovery Service

INVEST IN MYANMAR

https://www.youtube.com/watch?v=xkPm2XpaAzc

Myanmar Virtual Office

Myanmar Virtual Office Rental

;

MYANMAR INTERNSHIP


Subscribe to Tender Alert

* indicates required



Categories

  • Business Networking (74)
  • Featured Stories (144)
  • Franchise Opportunity (3)
  • Job Opportunity (7)
  • Latest News (12,855)
  • Looking for Business Partners (50)
  • Property Report (223)
  • Tenders & Awards (1,060)

What are the benefits of setting up a holding company in Singapore to invest in Myanmar?

Download the Guide

Our location in downtown Yangon:
our location map

To see our location on Google Map click here
To contact us at Email : info (at) consult-myanmar (dot) com
To download our contact (vCard) to your mobile or computer click here

缅甸,投资,注册,年审,报税
缅甸投资,注册,年审,报税. 可用微信跟本公司联系, 微信ID名:Consult-Myanmar

Myanmar New Tourism Promotion Video

https://www.youtube.com/watch?v=9uJ1wIkICYs

Some of Our Clients:

 

  

  


To see more of our client click here

Copyright © 2021 — Consult-Myanmar Co Ltd, Myanmar Co Reg No: 100066009, • All rights reserved. • Privacy Policy • Disclaimer