According to the Directorate of Investment and Company Administration (DICA), all companies must register online within six months of 1st August 2018 when the Myanmar Companies Act bylaw comes into effect

All companies in Myanmar must re-register online within six months of Au­gust 1, 2018, when My­anmar Companies Act bylaw comes into effect, according to the Directo­rate of Investments and Company Administration (DICA).

It is, according to U Aung Naing Oo, Director General of DICA, part of the e-government plan the government trying to implement.

‘‘All the registered com­panies must re-register. It won’t be very difficult, it’s just simply complet­ing the online forms,’’ he added.

The new Myanmar Com­panies Act emerged when Amyotha Hluttaw, the upper house, approved it on November 22nd. The bylaw includes changes to online registration, erases tax exemption for small and medium companies, and allows foreigners to invest up to 35 percent in citizen-owned companies.

Despite erasing tax ex­emption, the bylaw eases submission of financial statements by small and medium companies.

Companies Act was first enacted by British Gov­ernment in 1914, revised in 1950; this is the com­bination of the two acts easing some restrictions in accordance with the present time.

There are over 60,000 registered companies at the moment and until Au­gust 2018, companies still have to register paper­work as before, according to DICA.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/all-companies-must-register-online-when-bylaw-comes-effect )

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