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UMFCCI members push for lower tax rates

BUSINESSES at the Union of Myanmar Federation of Chambers of Commerce and Industry have urged Nay Pyi Taw to lower the tax rate, while the Internal Revenue Department said the tax rate has been lowered on an annual basis. Businesses collectively asked the tax rate to be reduced during the Chief Financial Officer conference (CFO […]

Myanmar’s business confidence plummets as policy uncertainty bites: survey

YANGON (Reuters) – Business confidence among entrepreneurs in Myanmar dropped “drastically” this year due to unclear economic policy, a survey shows on Tuesday, amid growing frustration over leader Aung San Suu Kyi’s management of the fledgling economy. Suu Kyi has identified economic reform as a key goal to complete Myanmar’s democratic transition after decades of […]

Cocokyun, industrial zones in Yangon’s spotlight

THE development of Cocokyun township covering the islands in the northeastern Indian Ocean, as well as the flight and maritime access between the islands and the mainland, are included in Yangon Region’s plan, according to Chief Minister U Phyo Min Thein. Yangon Region will implement a three-year project which will focus mainly on the improvement […]

Real estate market remains cool, expert says

Interview on 9 June with U Khin Maung Than, chair of the Myanmar Real Estate Services Association by May Thet Hnin, a reporter for the Global New Light of Myanmar. Q: What is the current conditionof real estate market? A: First of all, let me give you a brief history of the real estate market […]

Tariff Bill Expected to Create Export Exemptions

Manufacturing companies will be able to deduct taxes for material imports and manufacturing operations from their export tariffs if a bill to update the Tariff Law for 2015-16 fiscal year passes. The tax credit for exports is aimed at promoting value-added processes and the export production capacity, U Zay Ya Si Thu, deputy director of […]