It
is with pride that we announce the start
of our new law firm: Please welcome Lincoln
Legal Services (Myanmar) Ltd. to this world!
It
is an exciting time to start a new firm in Myanmar: The democratic transition
went splendidly, the new government was
sworn in on 30 March. We have no reason to believe that the clock will be
turned back; the point of no return has long been passed.
The
new parliament has drastically cut the
number of ministries from previously 36 to now 21. Daw Aung San Suu Kyi - who is by the present constitution barred from
becoming president -heads four
ministries herself: The ministries of foreign affairs (which also automatically
makes her a member of the national defence and security council), of electric
power and energy, of education, and of the president’s office. Furthermore, the
NLD has introduced a bill into
parliament that, if passed, will make
her “state counsellor” - a new position that may be akin to that of a prime
minister.
Whereas
the members of the Union government are from the NLD, the military, the USDP or
are not officially affiliated, all Region and State chief ministers are NLD
members.
Please
find an overview of the new Union government inside the newsletter on our homepage.
On a
more mundane note, the Union Tax Law
2016 and the Special Goods Tax Law
introduced important changes in taxation that took effect on 1 April. Please find an analysis of the changes as well as an English translation of the two laws inside the newsletter on our homepage.
Furthermore,
the MIC slightly amended its list of
restricted businesses (notification 26/2016 dated 21 March). We have
translated the notification. In a way, it is already outdated as it still
contains the names of the ministries prior to their new layout under the new
government.
To contact the author or subscribe to our newsletter, please visit us on our homepage: www.lincolnmyanmar.com
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