Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 4/3/2014

Myanmar / Burma - Tax benefits for export-oriented, supply-chain industries 

April 3: Tax benefits under Myanmar's (Burma's) special economic zone law, enacted 23 January 2014, for export oriented industries are viewed as more generous than those accorded under the foreign investment law.

The tax benefits under the special economic zone law include:


  • Extended lease terms for foreign investors in Myanmar of up to 75 years (50 years with an extension of 25 years), compared to the foreign investment law lease term of 70 years (50 years with two extensions of 10 years each)
  • Protection against nationalisation and guarantee of foreign investors' ability to repatriate profits
  • Ability of foreign insurance companies or joint venture insurance companies―which are currently only allowed to have representative offices within Myanmar―to operate within the special economic zones

Read an April 2014 report prepared by the KPMG member firm in Myanmar: Myanmar Tax Alert - Special Economic Zone Law in Myanmar




©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now