Re­cent Le­gal Changes Af­fect­ing Busi­ness

Thai-American Business (T-AB) Magazine - - Contents -

The Myan­mar Min­istry of Plan­ning and Fi­nance has an­nounced the low­er­ing of stamp duty rates for cer­tain doc­u­ments. Un­der No­ti­fi­ca­tion No. 146/ 2016 dated Septem­ber 30, 2016 by the Min­istry of Plan­ning and Fi­nance, the fol­low­ing in­stru­ments are now sub­ject to lower stamp duty rates: bond ( Sec­tion 15) stamp duty rates were de­creased from 1.5% to 0.5%; con­veyance ( Sec­tion 23) from 3% to 2%; fine or pre­mium or money ad­vanced in ad­di­tion to rent ( if the lease agree­ment was pre­vi­ously sub­jected to stamp duty) ( Sec­tion 35( c)) was de­creased from kyat 600 to kyat 300; and trans­fer of shares or deben­tures ( Sec­tion 62( a, b)) went down from 0.3% to 0.1%. The No­ti­fi­ca­tion amends Stamp Duty Sched­ule 1 from Oc­to­ber 1, 2016.

For more information con­tact DFDL at diber­john.bali­nas@dfdl.com.

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