Tax documents no barrier to business visas

Foreign nationals will not have to provide tax documents to receive either a business or an employment visa, according to immigration officials, although new regulations had indicated this would be necessary. The new regulations, which came into force on January 11, also altered who is eligible to apply to enter Myanmar under a business visa. […]

Hoteliers claim to face double taxes for liquor licences

Hotels that serve liquor are groaning under the burdens of taxation and red tape, hoteliers have complained, as police raided hotels in Bagan on suspicion of importing alcohol illegally. U tin win, chair of the Yangon hotel zone established by the Myanmar hoteliers’ association, said the raids were the result of a misunderstanding over conflicting […]

Surging land prices, opaque tender process ‘deterring foreign investment’

Foreign investors are disappointed that only domestic construction firms are being granted contracts to build government housing projects as surging land prices continue to make them wary of investing in housing, panellists said at the second day of the Myanmar Global Investment Forum. Cyrus Pun, executive director of Yoma Strategic Holdings, said surging land prices […]

Permits to import wine, spirits due by end of year, official says

Wine is at the top of the list for granting official import permits for foreign-made alcohol and the permits should be granted by the end of the year, according to a senior official at the Ministry of Commerce’s Directorate of Trade. He said official permits for importing foreign liquor would also be ready by the […]

Fee increase hits Yangon liquor sellers

Liquor businesspeople may be reaching for the bottle for consolation after Yangon Region’s decision to raise the annual licence fees that shops and manufacturers must pay to operate. Fees will significantly increase for a range of different liquor manufacturers and sellers after legislation was passed on September 1, with licences for beer manufacturers increasing the […]

Diverted industrial land hinders development for Mandalay businesses

The Ministry of Industry is considering ways to improve access to land for businesspeople, including looking at ending speculation and housing on industrial property, said deputy industry minister U Thein Aung. The ministry is creating a list of land granted to businesspeople, aiming to find a solution to vacant lands and plots where people have […]

Companies face hefty fines for failing to file taxes: IRD’s Aung Myo Oo

The Internal Revenue Department (IRD) on Tuesday gave a stern warning that companies in Myanmar must file their taxes by June 30, otherwise they stand to face a heavy fine that could be up to 150 times the size of their actual tax bill. “Trying to dodge tax could be a risky task. If they […]

Myanmar to legislate on computer software

YANGON — Computer professionals and government officials will form a committee to legislate on the import and export of computer software, according to Myanmar Computer Professionals Association (MCPA). “There is still no legal structure for software import/export in our country. Taxes on them are also yet to be decided. This is a requirement for the […]