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Property Tax Generates K43 Billion
BUSINESS Date: Sep 10, 2019   View: 119
During the first ten months of this fiscal year, Myanmar generated around K43 billion from levying tax on buying and selling real estate. The total exceeds last year’s amount by K6.9 billion than...
Demand sees gold prices surge to nearly K1.3million
BUSINESS Date: Sep 07, 2019   View: 116
Uncertainty and seasonal factors have been leading more people to jump into gold as a safe haven, pushing up prices of the precious metal, gold traders in Yangon say. Local prices for gold reac...
Bank collapse rumour is false : State Counsellor
BUSINESS Date: Sep 07, 2019   View: 116
n a meeting with the MPs from Bago Region on September 5, Myanmar State Counsellor Daw Aung San Suu Kyi said widespread rumour about the bank is untrue. The public don’t need to worry about it, said...
Gold Association Warns Against Trading Based on Oral Contracts
BUSINESS Date: Sep 03, 2019   View: 152
The Myanmar Gold Entrepreneurs Association has reminded its members not to conduct gold trading based on oral contracts amid raising gold prices, which has seen an upward trend since June. “Execu...
Withholding Tax Lowers Golds Potential
BUSINESS Date: Sep 02, 2019   View: 146
Myanmar has only allowed gold and jewelry to be exported from the country since September 2018. Since that time, there have only been three occasions where gold was exported. Those three exports combi...
Central Bank deputy chief says businesses should pay loans
BUSINESS Date: Aug 31, 2019   View: 148
Banks have a fiduciary duty to ensure that the financial system remains sound and secure by adhering to regulations. Central Bank of Myanmar (CBM) deputy governor U Soe Thein said in remarks to...
Central Bank Extends WeChat Pay for Three Months
BUSINESS Date: Aug 13, 2019   View: 332
China’s WeChat Pay was introduced to Myanmar earlier this year. Now, Central Bank of Myanmar has decided to extand the license period of the digital payment service for the next three months. In ...
UAB Bank to Verify Large Transactions in Order to Combat Fraud
BUSINESS Date: Aug 13, 2019   View: 313
Beginning on July 1, United Amara Bank (UAB) will use a telephone verification system for every transaction exceeding K1 million, if the transaction is initiated by a representative rather than the ac...
Local Banks Provide K21 Trillion in Loans in 6-Month Period
BUSINESS Date: Jul 26, 2019   View: 438
According to the Quarterly Financial Statistics Bulletin 2018, Volume 3, which was recently released by the Central Bank of Myanmar, between March and September 2018, local private banks provided arou...
Commercial Tax Generates K700 Million Per Week
BUSINESS Date: Jul 26, 2019   View: 457
The Internal Revenue Department said that revenue from commercial tax on mobile sales has surged to roughly K700 million per week, the surge is after they instructed local mobile stores to put commerc...
K119 Million Collected in Tax Fines
BUSINESS Date: Jul 26, 2019   View: 406
The Government of Myanmar has generated over 119 million between October 2018 and May 2019 from fining restaurants, hotels and motels for failing to put tax stamps on receipts, according to the Intern...
Yangon Stock Exchange Hits K1.3 Billion in June
BUSINESS Date: Jul 23, 2019   View: 522
The five listed companies trading on the Yangon Stock Exchange (YSX) hit K1.3 billion in June, the highest amount of trading was seen by First Myanmar Investment (FMI) and Myanmar Thilawa SEZ Holding ...
2020 Target for Opening Yangon’s New “International Standard” Myanmar Aquarium
BUSINESS Date: Jul 13, 2019   View: 610
The Mottama Development Group says that it will work to open the aquarium it has been building in 2020. It has been building the new facility on five acres of land in Kandawgyi Park, spending some $30...
Mottama Development Group Holds Exhibition for Five Projects
BUSINESS Date: Jul 13, 2019   View: 515
Mottama Development Group is one of the leading developers in Myanmar, they have opened an exhibition at Maha Land Center located on Gabaraye Road, Yangon, for its five projects. The exhibition wil...
Myanmar's new insurers face a tough sell
BUSINESS Date: Jul 11, 2019   View: 493
The insurance sector is about to undergo rapid growth thanks to a recent liberalisation, but competition will be fierce and attracting customers to new, unfamiliar products could prove hard. WHEN T...
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