18 Sep 2018 – Myanmar has been attracting significant attention among international investors due to its booming economy, vast resources, and a sizeable population. With a number of investments going into the country, Myanmar has been actively updating its rules and regulations, particularly on foreign investment and incorporation processes, in order to streamline the ease of doing business in Myanmar and to keep pace with its neighbouring countries.
Investing in Myanmar can be complicated however, and local taxation rules are undergoing rapid evolution. In fact, within the past few months, Myanmar has already issued a new tax law, a new withholding tax rule, and a number of notifications to address certain tax issues that are commonly faced by taxpayers.
In this seminar, Diberjohn Balinas, Senior Tax Manager at DFDL discussed recent developments to Myanmar tax laws and regulations, including the 2018 Union Tax Law, the new Withholding Tax Notification, and recent changes to tax policies and practices in Myanmar. In addition, he also provided practical insights on the most effective ways of investing and doing business in Myanmar, especially for Singapore investors, taking into account the existing tax treaties and local taxation rules in the country.
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