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New rules, incentives will boost taxpayer numbers

Paying tax is the duty of every Myanmar citizen. Without sufficient tax revenues, the country must rely on resource exports and foreign debt to fund its growing fiscal budget. However, many say the benefits of paying taxes to the government, which typically involve public infrastructure and subsidised healthcare and education, have so far been lacking. […]

Myanmar’s 1st MMA champ Aung La N Sang: ‘I’m no politician, but I fight for my people

SINGAPORE: Aung La N Sang feels good. “Amazing”, even, with barely a week having passed since he was crowned Myanmar’s first-ever mixed martial arts (MMA) champion. On June 30, willed on by a thunderous Yangon home crowd, the 32-year-old underdog stunned his undefeated opponent to capture the middleweight title belt of ONE Championship, Asia’s largest […]

Seven foreign and local enterprises permitted to invest US$1,435.808 million

Seven foreign and local enterprises have received permission to invest US$1,435.808million, creating 5,533 job opportunities, according to the Myanmar Investment Commission meeting held on 21st January. There were foreign investments of US$1,416.080million and Myanmar Citizen investments of US$19.728million. The foreign investments were from China, Singapore, South Korea, Viet Nam and Samoa, it is learnt. The […]

No automatic tax breaks under new law

Companies investing through the Myanmar Investment Commission will no longer automatically receive a five-year tax break, but will be granted exemptions based on the nature of the project and its geographic location, MIC secretary U Aung Naing Oo said yesterday. The changes will come into effect when the new Myanmar Investment Law is passed, he […]

Precast concrete factory to be built in Myanmar

YANGON—The Youth Force Group of Companies (Youth Force), which is owned by a Myanmar citizen, says it will build a precast concrete factory here for low-cost housing projects with the assistance of Yau Lee Holding, Ltd, a top Hong Kong-based company. “Myanmar is now facing high demand for housing. A precast concrete factory will be […]