The Myanmar Times
Thursday, 24 April 2014
The Myanmar Times
The Myanmar Times

Tax department admits error over public disclosure

The IRD disclosed the names of more than 10,000 businesses said to be guilty of tax evasion in the 2012-13 fiscal year, but now admits that some of those were listed in error.


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Further delays expected as airport talks fall apart

The Incheon consortium's negotiations with government over the Hanthawaddy Airport project have fallen apart, with original bidders invited to resubmit their applications to tender.

 

 

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Asahi to enter Myanmar in new soft-drinks deal

Beverage manufacturer Loi Hein is to partner with the Japan-based Asahi group to form a major new soft-drinks company in Myanmar. 

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New tax law sees marked rate reductions

Parliament has approved changes to the tax law for the 2014-2015 year that will see many tax rates lowered and new tax breaks introduced as an incentive to reign in endemic tax evasion and illegal trade, officials said.

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The Fine Print: Legal & Tax insight

Consultants Alessio Polastri  and Sebastian Pawlita on the logistics of convertible loans in Myanmar's emerging market conditions.

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WTO trade talks begin in Geneva

A goverment delegation led by deputy commerce minister U Pwint Sann met with officials from the WTO in Geneva last week to discuss how to bring Myanmar’s trading practices into line with the rest of the world.

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Rice exports to double in 5 years

For rice exports to double in five years, the government will need to introduce new subsidies and FDI in the sector will need to pick up say experts.

 

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Malay firm gets partner JV for new rubber plant

Malaysian agribusiness firm Felda Global Ventures Holdings Berhad Co and locally based Pho La Min Trading Ltd (PLM) have entered into a joint-venture agreement to build a rubber processing plant in Taninthar­yi Region, the two firms announced last week.

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Reforms could put govt at risk of arbitration suits

Efforts by the European Union to push forward with an investor-state international arbitration agreement with the Myanmar government may backfire in the form of costly arbitral suits arising from new policies implemented on the back of the country’s expeditious reform agenda, experts said.

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Jewellers demand new gems law

Local jewellers are calling for the government to privatise their industry and allow individual traders to export rare commodities directly under a more favourable tariff scheme.

 

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