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Myanmar Legal/Regulatory and Investment Newsletter – June 2023

Welcome to the June 2023 edition of our newsletter. In this edition:

Legal/regulatory developments

Implementation of online taxpayer registrations Registration system to be developed for rice storage New forms for tax refund applications CBM continues to ratchet up rhetoric on currency enforcement IRD tendering for tax management system upgrade DICA blacklisting for forex issues Reduced customs duty on SKD/CKD imports New sanctions against State-owned banks

Investment news

Yoma Strategic full year results Myanmar-China (Lancang) Trade Fair MTSH full year results FDI into Myanmar continued to fall in April Chinese Yuan prioritized for iron and steel import permits Rumoured Yoma Central project re-start Tighter restrictions blamed for trade volume drop Thailand completes East-West Economic Corridor upgrade Electricity tariff surveys Myanmar to China exported goods impounded IDR cross-border settlement mechanism closer to implementation Bangkok to Kolkata highway link progressing Myanmar delegation at St Petersburg International Economic Forum

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