Monday, April 4, 2016

Please say hello to our new law firm!

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 In a way, it is already outdated as it still contains the names of the ministries prior to their new layout under the new government.

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