The Central Bank of Myanmar (CBM) issued a letter on 1 March 2021 imposing weekly withdrawal limits of MMK 2million for individuals and MMK20 million for corporate account holders. In reality due to a lack of liquidity, most banks have set their own withdrawal limits significantly lower than those set by the CBM, making it challenging to withdraw cash from banks, exchanging Myanmar Kyat to foreign currency and remitting funds overseas. (more…)

Investments in Myanmar are regulated by the Myanmar Investment Law 40/2016 (MIL), which includes a number of tax and other investment incentives for both Myanmar and foreign investors. Key tax incentives include: (more…)

On 16 June 2021, the Central Bank of Myanmar (CBM) issued letter 105/2021 (Letter), its latest attempt to combat the liquidity problems faced by the Myanmar financial sector. (more…)

Hot off the heals on the ban on importing certain food products across land borders, the Directorate of Trade (Myawaddy Trading Zone), under the Ministry of Commerce (MOC) has as of 4 June 2021 further prohibited the import over land borders of:
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The Ministry of Commerce (MOC) has announced the end of concessional fees for obtaining import licences. (more…)