An overview of the financial charges, in the form of taxes, that could be met in Myanmar (Burma)
Incentives Under The New Myanmar Foreign Investment Law:
+ For the first 5 years of operation, you will not be required to pay income taxes
+ Tax exemption on reinvested profits (those reinvested within one one year)
+ Accelerate depreciation of assets
+ 50% reduction on taxes if your goods are produced for export
+ You can deduct research and development expenses (if research and development take place in Myanmar)
+ No... [ More ]
Myanmar will likely allow international banks to operate by 2015 as it revises laws to attract foreign investment. The authorities plan to complete amendments to laws on banking, insurance and foreign exchange operations.
The moves are expected as part of a broader opening of Myanmar's economy.
Myanmar's financial system remains primitive by international standards, and the country only recently got its first ATMs. The country also employs a confusing multiple exchange-rate system, though Myanmar's government is widely expected to change that system in favour of... [ More ]
Did You Know?
Bargaining is an art long practiced in Asian countries including Myanmar . So feel free to ask for a proper discount when shopping in places where prices are not marked. Be careful in dealing with sidewalk vendors who... ... More